Help - Argos card interest charge

boopopps

I had an email too it states "If you have a Buy Now Pay Later plan we have changed the payment date so that it's the same as your monthly minimum payment date, meaning that there's now only one payment date to remember each month. "

YorkshireBoy

watchingthepennies wrote: »

I have checked the terms of the account and whilst it does say please allow 5 days on the statement

Lots of institutions still say this. I believe it's a relic of years gone by and the old 3-day BACS plus weekend allowance.

the terms and conditions on the account are as follows:

2.6 When you make a payment, we will credit it to the account on the day we receive cleared funds but it may then take up to 14 days before the payment increases the amount of credit you have available to spend.

Which is why I suggested copying in First Direct with your complaint...because someone has messed up, and between them you want your money back!

Hoping that is relevant to me.

It is...very!

frank777

Just checking - I don't Bank with First Direct, but when I make a faster payment at Lloyds Bank etc, a page comes up to confirm that the payment has been made and should reach the account within 2 hours. I always print a pdf copy of this confirmation as evidence. I have paid my Aqua credit card by this method a couple of times and it always arrived in my account within 2 hours, just checking did your enter your account number as the reference number?

Argos Card - What are the payment methods? 4. If your bank offers a direct bill payment service, just call them or visit their website. Quote our direct payment account number: 9050 5498 plus the sort code 20-91-79. Your customer reference number is your Argos Card number without the first 6 - so it starts with a 3354

On most of my credit cards if I make a faster payment it's shown LIVE on my credit card account balance. Make a token Faster Payment for £1.00 early in the day to your account and check your credit card account after 2 hours and your current balance should reduce by £1.00. On my other credit cards you have to quote your full account number and not exclude the first 6 numbers, I bet that catches out a few Argos credit card customers.

watchingthepennies_2

Thanks frank777 I will check what I quoted, as far as I'm aware it was exactly the same as I used last time and that was showing on the card account the next day.

frank777

watchingthepennies -
Maybe your Faster Payment was paid after the cut off time (3.00PM?) this time. I've checked my history and I paid my Argos Credit Card bill online at www.vanquis.co.uk and my payment was shown on my Argos CC statement the same day. It did say - this will reach the account within 3 working days. Banks/Financial Institutions will try every trick in the book to get extra charges from their customers. You might also be charged a late payment fee of £12.00 (ask Argos CC about the effect on your credit file) and extra interest. I like to do the reverse, I applied for my Argos CC via topcashback.co.uk for the £25.00. If you get no joy, maybe it's time to move on and start again with another credit card application, lessons have been learnt? If you use this Link http://www.moneyexpert.com/credit-cards you get £25.00 cashback from most of the credit cards listed. I give this company a Five Star Review, money was paid in my Bank Account without any problems, topcashback sometimes involves time and hassle to get your cashback. If Argos CC indicated Faster Payment cut off times (3.00PM?) maybe this would not have happened and Argos CC (Vanquis Bank?) would be -£106.00. Don't forget to use the Freephone 0800 007007 if you contact Argos Credit Card.

Sorry my mistake, your card is a Argos store card ,not the Argos Credit Card, the principle is the same, pay early - Looks like the Argos card may also be managed by the Vanquis Bank a subsidiary of the Provident Financial Group

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:)Harsh words and poor reasoning never settle anything

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chattychappy

watchingthepennies wrote: »

yet they just quote you must allow 5 days for it to reach your account.

chanz4 wrote: »

Their terms clearly state 5 working days

Aside from the regulatory point, the two are not the same. "allow 5 days" does not mean it will take 5 days and doesn't give them carte blanche to choose to take 5 days and sit on the money.

watchingthepennies_2

Pleased to report good news, phone call from Argos and they will refund in full. We like to take advantage of the interest free periods if available, so I think I will just play it a bit safer in future and pay slightly earlier next time.
Thanks everyone for your help.