Very.co.uk BNP - Is there a catch?

est1984

I'm looking to buy a Camera, a DSLR camera to get out more lol. So I was planning on waiting some time before I even come close to buying one but now I'm so tempted having found a Very.co.uk BNPL.

I'm in no debt other than my remaining student loan. So what my salary that comes in is good, but its my patience which is being tested. I have car insurance due this month and I'm looking to pay it in full even though that's pretty much all the spare cash I have. So if I really want to buy my camera asap, I have the possible option to BNPL with very. I know I can pay the whole amount in January or maybe I could even spread it over the 2 months, I don't really need the whole 12 months to pay it off.

I'm very weary about anything that seems good to be true, forget being too good to be true, I usually turn around and run. Has anyone had any bad experience with it or perhaps even know of a catch, maybe been stung by some weird circumstance with their BNPL?

I_luv_cats

Make sure you pay it in ample time(certainly way before the suggested payment deadline on your 11th/12th statement)

IF you don't clear the balance in time they add interest from the day you purchased the camera.

When you make payment make sure you elect BNPL


The statement does make it clear but just beware


look for first order discount and/or cashback (Quidco etc.)

est1984

I'll pay within the first three months for sure. Thanks for the info. Is there a minimum payment I must make each month? Will it improve my credit rating which has improved vastly since uni lol

I_luv_cats

est1984 wrote: »

I'll pay within the first three months for sure. Thanks for the info. Is there a minimum payment I must make each month? Will it improve my credit rating which has improved vastly since uni lol

Normally a BNPL requires no on-going payment (P+P may need to be paid on the first statement) OTHER than to settle it