DENVER (CBS4) – Not only have major retailers already launched their holiday layaway programs, one is already changing its policy.
Walmart tacked on a new hefty fee for its upcoming layaway program, and now, because of consumer complaints, it’s stepping back a bit.
Despite the fact that it’s hot and it’s barely September, many consumers looked ahead and they didn’t like what they were seeing at Walmart stores.
Last month Walmart announced its new layaway program. The fee for putting merchandise on hold and paying it off slowly went from $5 in 2011 to $15 this holiday season. Consumers made their objections known loud and clear, so Walmart announced it’s going back to the $5 fee.
Sears offers a layaway plan also with a $5 fee and Toys R Us boasts of a free layaway plan.
Be sure to check the cancellation policies of various layaway plans. Some have a $15 cancellation fee.