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Ideal World Flexi Pay - Credit check?
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# 1
nogoodwithmoney11111
Old 25-07-2010, 9:00 AM
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Default Ideal World Flexi Pay - Credit check?

Hi,

I was going to buy something for the house from Ideal World and they offer flexi pay over 4 months - wondered if there would be any credit check run? how safe is this? I have budgeted for this purchase and I will be able to make all 4 payments so wont risk defualting on it.

thanks in advance.
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# 2
Geebee
Old 25-07-2010, 9:17 AM
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Hi Nogoodwithmoney. Am i correct in thinking that the 'Ideal world' you are referring to is the shopping channel?.

As far as i am aware, Ideal world dont actually do a credit check when paying using the Flexy pay method.. which you actually pay using your debit or credit card.
I would think very carefuilly before committing myself to it.
This is from their website....

  • Who is eligible for Flexi-pay?
  • All customers are eligible to use Flexi-pay when it is offered by us; however we reserve the right to refuse to allow payment by Flexi-pay.
  • What happens if I miss a payment?
  • We understand that sometimes mistakes happen. If we attempt to take a payment and your bank declines it, we will send you a letter to let you know. We will attempt to take payment again 14 days after the original instalment date. However if your card is declined again, we will add a 10 plus VAT administration charge to your outstanding balance and this will be payable immediately along with your missed instalment.
  • What happens if the second attempt to take payment fails?
  • We will attempt to collect an instalment three times before handing it over to a debt collection agency. On the second and third attempt we will add a 10 plus VAT administration charge to your account. If you have still not paid, all outstanding payments due for your items (the missed instalments and any future instalments otherwise due at a later date) will be payable immediately in full, together with the combined 20 plus VAT administration fee. A debt collection agency will be instructed to recover these amounts from you who will add additional charges to the debt. Document and administration charges of 14% plus VAT will be added when the agency is instructed to recover the debt. This charge will be increased to 29% plus VAT if a doorstep collection is required. Failure to settle the account with the debt collection agency may result in legal action being taken against you and any legal fees and costs added to your debt.
HTH GB.
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How people treat you is their karma; how you react is yours~Wayne Dyer
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Last edited by Geebee; 25-07-2010 at 9:19 AM.
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# 3
nogoodwithmoney11111
Old 25-07-2010, 9:25 AM
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Thanks Geebee - it is surely a sign of the value of these forums that I came to here first before looking at the ideal world own website!!!! After reading through it is still a bit "legal wordy" as i like to call it. Why oh why cant people explain things on their websites in general simple terms - we can but wish......

In summary though if there is not credit check then i am quids in as it is effectively interest free credit - although the number of times you get before it goes to DCA seems little. A bit worried that there would be an admin error or something then I would be worrying.......

Will have a good think about it (offer valid for 24 hours) as I could pay up front on a cashback credit card and pay out of emergency fund that would be topped back up to "safe limit" in 2 months.

Thanks for the reply. As ever this site is the premier port of call for assistance
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# 4
Geebee
Old 25-07-2010, 9:38 AM
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Hi again... I have looked through their terms and conditions again and still cant find anywhere that it says that they consult a credit reference agency so i think they must not. Maybe someone else with experience of these would know.

They dont seem to leave it long before they hand it over to a DCA, but having said that, an admin error shouldnt happen too many times hopefully and if you are confident that you can pay, you shouldnt have anything to worry about. I am just very cautious about credit, if i cant pay for it outright, i do without, except obviously for the usual mortgages etc so maybe i am a bit paranoid?.

Best of luck anyway, GB.
If you can, help others; if you cannot do that, at least do not harm them~Dalai Lama
How people treat you is their karma; how you react is yours~Wayne Dyer
Let none find fault in others. Let none see omissions and commissions in others. But let one see one's own acts, done and undone~ch4 vs50
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