Argos Card - HELP!!

jadeandandrew

Hello. We have suddenly received an expensive, but essential bill, and no money to pay for it. However we have an Argos card (Not credit card) with £2000 credit on it. Does anyone know if Argos do a "cash before pay day" scheme or similar? Alternately we could buy something and resell it for cash.

I understand this is far from a perfect way to make some quick cash, but unfortuantly we have no alternatives at this time.

Any replies or suggestions would be greatly appreciated.

Jade & Andrew.

Numpty_Monkey

Hi Jade and Andrew
This has just been posted as a reply to another member and i think it says it all

urg123 wrote: »

It sounds like you need to address paying off the ODs - taking out a further loan or taking a greater loan may not be addressing the reasons for the ODs and you may find yourself in the same situation again.

If you post your Statement of Affairs http://www.makesenseofcards.com/soacalc.html maybe we can help you to look at your finances.

Good luck

URG says it all in there,

Hope they don't mind me quoteing them

jadeandandrew

Hi and thanks for the reply. Not really what I was hoping for though it could be useful further down the line. I was rather hoping to take advantage of the Argos card this week to sort out an imminent problem. Thanks.

doodledo_2

I can't see Argos giving you a cash advance and if I remember rightly doesn't it have a ridiculous APR on it.

As Im not sure of your actual situation and how much cash you need and by when its hard to comment. Smaller amounts are obviously easier to raise.

Hope you get your situation sorted.

boredofbeingathome

In all honesty *No* is the answer. Although you can buy goods on it, however you do pay back at a high APR, unless you buy a certain amount and then you can pay back after a ltd 0% period of time.

What other avenues have you explored? Would it be possible to pay any creditors a token gesture?

I was just thinking, however, that argos do a mastercard which is separate to the storecard, that maybe what you are referring to..you could apply for one of those.

jadeandandrew

I know the APR is high, but the idea is to get an item with 12 month interest free and we will be able to pay it off in full at the end. I'm also aware of the potential massive loss of immedietly trading this item in as somewhere like cash converters (apologies for my language!), what would trade in at the best price? we were thinking of a gold ring..
Thanks.

doodledo_2

Have you spoken to the people to whom you owe money, is there not a possibility of paying it off monthly or something similar?

I know you say you will pay it off in the 0% period but you are still paying interest as such as if you go to cash converters you will not get the value for the item which you have bought. So the difference you lose is just the same as being stung for interest.

jadeandandrew

boredofbeingathome wrote: »

What other avenues have you explored? Would it be possible to pay any creditors a token gesture?

What do you mean by "token gesture"? is this likely to slow down the interest they keep piling on? that's half our problem, we just cannot catch up purely because of all the fees they keep applying :mad:

boredofbeingathome wrote: »

I was just thinking, however, that argos do a mastercard which is separate to the storecard, that maybe what you are referring to..you could apply for one of those.

As per my original post this is not a mastercard / credit card. We have tried applying for additional cards for balance transferring but have already explored this with no success.

Thanks.

Nic25

I'd personally steer far clear of the Argos card - the APR on it is ridiculous!
As far as I'm aware, they don't do any 'cash advance' deals - your only option I think would be to buy something very expensive on the 6 months interest free option, sell it on (probably losing some money here) and hope that you've made enough money to pay back the card before the interest-free runs out.
Doesn't sound like the greatest plan ever though....:undecided

jadeandandrew

doodledo wrote: »

Have you spoken to the people to whom you owe money, is there not a possibility of paying it off monthly or something similar?

We will be looking into this imminantly but need something more short term just to tie us over til the end of the month.

doodledo wrote: »

I know you say you will pay it off in the 0% period but you are still paying interest as such as if you go to cash converters you will not get the value for the item which you have bought. So the difference you lose is just the same as being stung for interest.

I know it'll cost more in the long term however in that time I can do overtime plus get xmas bonus from work to prepare for it.

Thanks.

doodledo_2

Well my advice would be not to rush into it and speak to them first as you may be able to get something sorted.

Fingers are crossed for you.