JD Williams Home Shopping

wacwac

Hi I am new on this site so not sure if I have done this is right but here goes.

I have a account with JD Williams (Ambrose Williams, Jacamo, Premire Man, Simply Be) and I have noticed that even though I have been paying the statements on time and the correct amount etc my account balance doesn't seem to go down much, also the Credit Charges seems to be very high each statement and the last few statements the minium payment has been the same amount and I have been in touch with JD Williams who say that my account it correct and the chargers are right too.

For instance this last statement for the 3 rd time in a row minium payment £71 and credit charges added to my account this month is £38 so minus that from the £71 = £33 that will only be taken off my account.

So what I am asking is this legal and correct and has any one else noticed this too on there statement ???
I look forward to your replies if any and if I have done this in the wrong place sorry

Regards
Wacwac

Enfieldian

?

What are you asking for? An explanation of how credit accounts and APR/interest works?

Are you not aware that a "minimum payment" is a maximum moneyspinner for the credit issuer?

Try paying off a bit more each month.

wacwac

Well yeah and if these charges are legal ?? and if anyone else has a JD Williams account and noticed the same thing.

naijapower

Yeah, the charges are legal. I can confirm this.

cifpower

Well the APR is 40-odd % but 29% if you pay by direct debit. These charges are legal so I don't see what your point is?

wacwac

my point is these charges legal which 2 have said yes as I thought these where high..and my balance doesn't seem to go down much as the charges take over half of the minium payment.
And I was asking others if they noticed this.

cifpower

Yes they are legal. If you want to pay at a lower rate of APR pay by direct debit and then overpay as and when

System

wacwac wrote: »

Well yeah and if these charges are legal ?? and if anyone else has a JD Williams account and noticed the same thing.

This is called 'interest'. And very high interest by the sounds of it.

On a more helpful note (!) are you in a position to obtain a 0% purchases credit card? If so you could clear the balance and save yourself a fair bit in interest. I'm assuming that JD Williams take credit cards.

Regards
UNDERGROUND

jonesMUFCforever

Pay it off as soon as possible.
The days when they gave you a year interest free AND then time to repay again interest free have gone.
It is now free for a year but if you have a balance outstanding at the end of the year interest at around 40% is applied.

System

My Grattan catalogue still gives me by now pay in 6 months then interest free over a year, free courier delivery and returns - works out well especially as I only buy stuff in the sale!

I'm surprised they haven't got rid of me since they can't make much out of me!

UNDERGROUND

PS - OP: change to Grattan!

beattiesman

i to had a account with this company owed £600 had some savings not getting a good rate of interest so draw them out & paid the full amount off.realise not everyone can do this but i was fotunate to have a bit of savings. but i agree it is depressing when you got your statement to see how much was interest .