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Argos Store card-Isn't this a con??
RunnyJam
Posts: 8 Forumite
I purchased a few items from Argos, using their store card on a "buy-now-pay-later" interest free credit. One item was on ordinary credit payable at the end of the month and others were to be paid for within 3 months or within 6 months, if they were to remain interest free.
As payment became due on a couple of items, I sent off an internet payment to settle the amount due.
I received the store card statement today and guess what?? They deliberately applied my payment to the amount which was not repayable for another 6 months. The item to be paid earlier therefore remained still outstanding. The obvious result was that they made my account appear to be in arrears AND then charged me interest on it.
To clarify matters, I had to phone them on an 0845 number, which of course cost me more money and made them more money.
The Argos store card staff said to me unashamedly that "...if you want us to apply your payment to settle the balance which is due for payment, shown in our statement, you have to phone us (on the 0845 number) and ask us to apply the payment to that amount for which payment is due. We would consider that you would be in arrears as per our computer. You should disregard the facility of internet payment."
She agreed to reverse the interest charge but was unrepentant and continued to insist that in future I should phone them on the 0845 number.
I draw two morals from this story:-
1. I will clear my balance as soon as possible, cut up the card and close the Argos store card account.
2. I urge all the public to consider how many people will have been conned by this dishonest and unscrupulous practice, into paying interest charge on balance which is artificially made to be in arrears.
If there is an item worthy of exposure on tv consumer programs like those on Channel 4 and the BBC, surely this must be one!
RunnyJam :mad:
As payment became due on a couple of items, I sent off an internet payment to settle the amount due.
I received the store card statement today and guess what?? They deliberately applied my payment to the amount which was not repayable for another 6 months. The item to be paid earlier therefore remained still outstanding. The obvious result was that they made my account appear to be in arrears AND then charged me interest on it.
To clarify matters, I had to phone them on an 0845 number, which of course cost me more money and made them more money.
The Argos store card staff said to me unashamedly that "...if you want us to apply your payment to settle the balance which is due for payment, shown in our statement, you have to phone us (on the 0845 number) and ask us to apply the payment to that amount for which payment is due. We would consider that you would be in arrears as per our computer. You should disregard the facility of internet payment."
She agreed to reverse the interest charge but was unrepentant and continued to insist that in future I should phone them on the 0845 number.
I draw two morals from this story:-
1. I will clear my balance as soon as possible, cut up the card and close the Argos store card account.
2. I urge all the public to consider how many people will have been conned by this dishonest and unscrupulous practice, into paying interest charge on balance which is artificially made to be in arrears.
If there is an item worthy of exposure on tv consumer programs like those on Channel 4 and the BBC, surely this must be one!
RunnyJam :mad:
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yes, another thing I have noticed is that it isn't actually an 'interest free period' on an Argos Card, but a 'deferred interest' period. If you don't settle the balance you took on buy now pay later at the end of the 6 or 9 month period, they charge you interest on the whole period of time from when you bought the product, not from when the 'interest free' period ends, as I have just discovered on ours, something we bought 6 months ago on this that we haven't settled, they are applying £150 in interest charges to our account next month.
I am pretty sure it probably states this somewhere in the T&C's but its not obviousAug GC £63.23/£200, Total Savings £00 -
Yes it is somewhere in the T&C
I do sympathize with you.
It seems they have made obscure the basis of charge, thus luring you into a transaction which you would have otherwise thought twice about.
In my case it seems there is outright deceitful manipulation and falsification of the amount I owe to generate income for them. In fact in addition to the amount I owed at the due date, I had paid £20 extra which I had spare at the time, hoping my next payment due would be less. This amount too is misapplied by them. It all came to light when I received the statement for the following month. Even after my conversation with Argos Store Card, they have not amended this wrong application.
In my purchases, there is a matter of a few hundred £s. However there must be thousands of people duped into paying interest on money that they do not really owe!!
The sooner Argos is brought to book, the better. :money:
RunnyJam0 -
Is is Argos' fault that you are stupid enough not to read the terms and conditions?Gone ... or have I?0
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Oh dear, was that language necessary QUIDCO £2827 paid out since October 2007:D0
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Is is Argos' fault that you are stupid enough not to read the terms and conditions?
Thats a bit harsh. The problem in my opinion is the sales staff in the stores only point out the good points of the card and probably don't even know how payments are applied to account so wouldn't even be able to point it out the the OP.
It is unfair but the card company is hoping for customers like you who don't fully understand how the card works to help them make more money.0 -
Thats a bit harsh. The problem in my opinion is the sales staff in the stores only point out the good points of the card and probably don't even know how payments are applied to account so wouldn't even be able to point it out the the OP.
It is unfair but the card company is hoping for customers like you who don't fully understand how the card works to help them make more money.
No, it is not. Would you take out a mortgage without reading the paperwork? This is no different.
People need to take responsibility for their own actions. If you don't understand the paperwork, then you shouldn't borrow the money. If you choose not read the paperwork, irrespective of whether you will understand it or not, then you are irresponsible and stupid.Gone ... or have I?0 -
Is is Argos' fault that you are stupid enough not to read the terms and conditions?
No, but I know many companies make the T&Cs as difficult to read as possible. In the past I have had to take loan agreements to work and enlarge them on the photocopier to make them big enough to be able to read.
Not to mention that they write them in jargon that the ordinary person will find very difficult to understand!0 -
have had my argos card for many years and bought masses of 3,6,9 and 12 month items on it.
a few weeks before the relevant period runs out, argos have always sent me a letter to say 'your 6 months interest free period expires on 01/01/2008 [ie]and the full amount of £xxx is due then' , with the letter is a tear off slip to attach to a cheque and send back to them with your payment. Think I have used this method of interest free payment over 30 times and never paid a penny in interest.
would be lost without my argos card, but it is advisable to always read the small print.;)0 -
Is is Argos' fault that you are stupid enough not to read the terms and conditions?
I remember reading a post from you a few days ago complaining because someone was using stress as a means of aquiring benefit of some kind. You referred to yourself as having a problem and felt offended or something similar.
Perhaps you ought to think a little then before insulting others on here by calling them stupid.0
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