Costco Gets Tough News on 1 Location After Gas Station Announcement

Earlier this week Costco announced a big move for customers, instituting a buy now, pay later program reached in partnership with payment app Affirm.

"Buy Now, Pay Later" programs enable customers to purchase products by paying for them over a specific period of time. Costco's "Buy Now, Pay Later" will be available for transactions on its website for purchases between $500 and $17,500 with repayment times between three months and 36 months.

The payments won't come cheap, though, as Costco is offering annual percentage rates of 10-36% meaning an $815 purchase could cost $840 for over 6 months of payments, $875 over 12 months and $903 over 18 months - with a 20% rate. The company did announce that there is no penalty for paying off the item early, though.

Costco also revealed those who use the new payment method won't see their credit affected when creating an Affirm account. "When you apply for or check to see if you prequalify for Affirm financing, it's considered a soft inquiry, which does not affect your credit. If you decide to buy with monthly payments through Affirm, your payments may be reported to credit bureaus," it said.

In addition to its new payment option, Costco also announced a notable change for its gas stations, announcing most will stay open until 10 p.m. “Generally, our stations are now staying open an hour later than they did previously, with some opening earlier as well,” Costco CEO Rob Vachris said in a statement.

As Costco continues to make big moves with its buy now, pay later option and extended hours for gas stations, the company did take a small loss. One particular Costco location won't be getting a new gas station after all.

According to the Jacksonville Daily Record, the city council denied rezoning to allow for a members-only gas station to be built.

"With a 15-3 vote May 27, the Jacksonville City Council denied a rezoning to allow a members-only gas station in a corner of the wholesale retailer’s parking lot," the report stated. "The vote came on Ordinance 2025-0249, which contained a request to rezone Costco’s 13.91-acre site at 4901 Gate Parkway from its current Planned Unit Development to a PUD that allowed for the fuel facility. "

Related: Costco’s Gas Stations Are Changing—Here’s What You Should Know