Costco is now offering a buy-now, pay-later option for online shoppers through a new multi-year partnership with Affirm.

The installment plans will allow customers to select the payment option at checkout for purchases ranging from $500 to $17,500.

Customers will be checked for eligibility in real time and can choose a monthly payment plan that fits their budget.

The plans offer "transparent pricing without late or hidden fees," offering customers an option outside of traditional credit, Costco said in a news release.

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