Argos card - buy now, pay later

adonis10

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Back to adonis10's original post...

http://www.argos.co.uk/argoscard

From this, it appears rust providing one pays off the whole balance before the end of the buy now, pay later period then there is zero interest and the amount due is the original purchase price?

Anyone know if you can use it when tou apply for it in store, ie. Before the physical card arrives? If so, I assume it's fine to part pay with vouchers and stick the balance of the purchase on the card?

tomxlisa

If you apply for the card in store and get accepted you can start using your new credit account right away, you apply for the credit account when you go to purchase your items, I did it over the internet so had to wait for my card to arrive before I could start buying, and as far as I know you can clear some of the balance with cash/vouchers and then stick what is left on the card.

20aday

adonis10 wrote: »

http://www.argos.co.uk/argoscard

From this, it appears rust providing one pays off the whole balance before the end of the buy now, pay later period then there is zero interest and the amount due is the original purchase price?

Anyone know if you can use it when tou apply for it in store, ie. Before the physical card arrives? If so, I assume it's fine to part pay with vouchers and stick the balance of the purchase on the card?

BIB: That's correct, yes. Otherwise Interest will be backdated to the original purchase price (and will be considerably high due to the card's APR of 29.9%).

adonis10

20aday wrote: »

BIB: That's correct, yes. Otherwise Interest will be backdated to the original purchase price (and will be considerably high due to the card's APR of 29.9%).

Thought so, just my financial paranoia made me double check. No chance of it going beyind the period so all good!

tomxlisa

Let us know how you get on, I got instantly accepted online. :j

adonis10

tomxlisa wrote: »

Let us know how you get on, I got instantly accepted online. :j

Yeah, accepted no problem. From what I can see I don't need to pay a penny until the due date in 6 months, which is fine by me as I'll be earning interest on that cash in the meantime. I guess they bank on the fact that many people are !!!!less and will just forget about it, end up not having the money in 6 months to pay it all off and then slam on 6 months' interest. I can see the business sense behind it. I'm more financially savvy so that won't happen, but I bet it does for many!

tomxlisa

I don't know if they are quite as horrible as that as I've heard that they remind you on your statements close to the paying off month and also send a reminder letter, not sure how true this is though as it would make good business sense that they just don't tell you so hopefully you forget, what limit did you get accepted with, was it done online?.

20aday

tomxlisa wrote: »

I don't know if they are quite as horrible as that as I've heard that they remind you on your statements close to the paying off month and also send a reminder letter, not sure how true this is though as it would make good business sense that they just don't tell you so hopefully you forget, what limit did you get accepted with, was it done online?.

It tells you on your statement when the Buy Now, Pay Later plan(s) are due to end. When I applied online it told me I was successful. Can't remember if it gave me the limit at the time but I think it did.

tomxlisa

I had to ring up to see what my limit was, have you had your card for a long time, if so what are they like with increasing the limit?.

20aday

tomxlisa wrote: »

I had to ring up to see what my limit was, have you had your card for a long time, if so what are they like with increasing the limit?.

I've had my account since April last year.

I had an increase in both January and August of this year; January it was £100 and £180 in August.

I've found they've upped the limit as I complete my BNPL plans.

Cycrow

tomxlisa wrote: »

I don't know if they are quite as horrible as that as I've heard that they remind you on your statements close to the paying off month and also send a reminder letter, not sure how true this is though as it would make good business sense that they just don't tell you so hopefully you forget, what limit did you get accepted with, was it done online?.

I've never been given reminder letters about paying off.

i do get a statement each month which does show it pretty clearly, and messages about when the statements are avaialble.

But if you dont look at the statements then i can see how some people might forget