Simply Be

DeloresK

I buy clothes and shoes from Simply Be. This is the first month I haven't paid my account in full. The balance is £127.78, which includes a credit charge of £5.99, which I take to be interest. I have rung them and asked how it was claculated, and what the APR is, but they were unable to tell me because the person who knows that has just left the office. They referred me to the back of the catalogue, which I asked them to send me a copy of.

I roughly make the APR 254%. By charging a credit charge are they circumnavigating interest charges?

OlliesDad

DeloresK wrote: »

I buy clothes and shoes from Simply Be. This is the first month I haven't paid my account in full. The balance is £127.78, which includes a credit charge of £5.99, which I take to be interest. I have rung them and asked how it was claculated, and what the APR is, but they were unable to tell me because the person who knows that has just left the office. They referred me to the back of the catalogue, which I asked them to send me a copy of.

I roughly make the APR 254%. By charging a credit charge are they circumnavigating interest charges?

If that is the interest i work it out to be approx 56% APR. (((5.99/127.78) x100) x12)

System

have a look at your account online there should be a section saying "my apr" .

RadoJo

Do they not have that kind of info in the Ts and Cs when you sign up?
It sounds as though they are charging you for the line of credit, which would presumably be equivalent to overdraft fees such as you get on many standard bank accounts.

DeloresK

CHRISSYG wrote: »

have a look at your account online there should be a section saying "my apr" .

There's nothing there, but the amount appears as a service charge on the online statement.

I can't find the T&Cs, which is what they tell me are at the back of the catalogue. I'm minded to pursue this to find out exactly what they are doing.

gordikin

OP try looking here:-

http://www.simplybe.co.uk/shop/policies?decoration=true&finalTarget=policies_credit_summ

Lip_Stick

I think the interest rate is 39.9% according to what I've seen. I bought a dryer from them. They had the check to charge me the £2.99 for postage and packaging when I paid £25 delivery from the supplier. grrr