Argos MasterCard - 3 months interest free on everything

nitehawk616

I was in Argos on 17/05/2007, I was offered the new Argos MasterCard, I completed the simple application in store and was accepted, I was given a number to call for further information if needed, out of interest I called the number when I arrived home, and they confirmed that phone applications are being accepted with immediate affect on the following number, 0800 007 007.

Gook Luck

Nitehawk

swayze

Pound wrote: »

Sorry, I didn't make the 3 months interest free clear. Basically, everything you but you get 3 months 0% interest. What I mean by 'forever' is, unlike other cards, this isn't just an introductory offer. So if you use it in 12 months time you get 3 months interest free on what you buy. Hope that makes sense.

This is a standard credit card, not the Argos store card so you should be able to BT with this one.

I agree with exel1966. There are cards with better APR and you might be better going for cards with 12 months 0% interest. The 3 months interest free everytime is a unique thing Argos is offering so might be of use to some people.

Yeah that makes sense. I understand where you are coming from now.

jinkssick

!!!!!!?!

let the original poster think this is 3 months forever! We will see you on here in 3 months time when you are being charged 17.9% interest on what you bought in Argos 3 months ago, and asking for help.

Hollisio

blimey, how hard is it to understand!Think the OP has given us some useful info and then just gets slated by certain people!Its clear that the OP knows there are longer 0% deals out there but he is trying to explain that this 3 months interest free is FOREVER!

You use you card next week you get 3 months interest free on that purchase.
Use your card next year, get 3 months interest free
Use it in 10 years time and still get the first 3 months of the pruchase interest free.

Obviously after 3 months the APR goes to 17% but the point is you would pay it off by then.

0% deals for 9 months or more are good but after that 9 month period, interest will be charged on any more purchases as normal.

Thinks its quite good, to me it seems that instead of a standard credit card that gives you 56 days to pay off your balance before charging interest, this gives you 3 months.

Mozette

Cheers Hollisio, I was a bit confused I must admit, but I get it now!

veronarona

So it means that you get 3 months' interest free credit on everything you ever buy from Argos (which you charge to the card)? Or just on the first thing you buy, whether that be within the first week you get the card or in a year's time or in 10 years' time?

veronarona

Treadmill

This is the ideal card fot ticket touts, you buy your tickets on it and then you have 3 months before the interest kicks in to flog them on ebay etc... sweet.

Treadmill

Interest free period Up to 3 months on purchases provided you pay for them in full before the payment due date on the second statement after your purchase. No interest free period on cash advances, cheques or balance transfers

Milarky

Suppose you have a credit limit of £3000 - then you can only really spend 1/3 of that per month, because the balance will hover between 2/3 and 100 percent

Eg

.................Purchases..........Balance............Repayment
Month 1 .....£1000................£1000..............NIL
Month 2 .....£1000................£2000..............NIL
Month 3 .....£1000................£3000..............£1000
Month 4 .....£1000................£3000..............£1000

Having said that it's an additional 31 - 45 days (depending on the alternate card considered) which, if cash back were paid would make it roughly equivalent to a '56 day' card with about 0.5% cashback [35 extra days @ about 5% pa net] So a 1 percent cashback card offering 56 days is slightly better than this

colin_tomlinson

To put this more simply

Rather than pay on the statement following the purchase, you can pay on the one after that. This means you get extra (a full month's) interest-free credit in comparison to a typical credit card offering UP TO 56 days.

So, if you buy something on 1 January and your statement cycles on the 1st of each month, the purchase will show on the February statement, but this does not need to be paid yet. In March, you will need to clear (pay off) this transaction by the due date (eg 25 March) or you will be charged interest, but only from 1 March.

However, if, in the above example, you purchased something on 27 January and it appeared on your February statement, you would still need to clear this transction by the March payment date.

In both of the above examples, a minimum payment of 3% of the total oustanding balance or £5 is due on each statement.

Unlike similar cards in the past, the typical interest rate on this account is quite encouaging - 17.9%, as opposed to the likes of 32.9% (charged by Littlewoods).

As mentioned above, this arrangement will be for the life of the credit card ("forever"), it is not an introductory offer just for the first few months.