Very account and credit cards

ainsley751

Hi all, hope this is okay/right place to ask! But just wondering if anyone would know what type of charges I'd incur on my credit card if I were to use it to clear my very account? My card gives a better rate of interest, but I don't want it to go through as a money advance or anything like that. Thanks

sjbrun

My partner pays off her very account with her credit card and there are no charges for doing so.

It's just like any other purchase.

Marcio45

I can confirm that payments to Very are seen as purchases not cash transactions.
Specially when BNPL (buy now pay later) are coming to an end and you are about to be charged interest from day 1. Just make a payment with you credit card and you will save lots of money on interest.

GingerBob_3

And then close your Very account. They are serial offenders at screwing up people's ability to obtain credit, by posting malicious entries at the CRAs.

ainsley751

Definitely closing asap, over priced products with overpriced interest! Thanks for all the help!

john1002

To be fair to Very they are upfront both in statements and when you go to purchase on interest charges, I find then excellent for allowing BNPL purchases at the same price as other retailers. As long as your disciplined and ensure you pay before the end of any promotion period your fine.


And yes you can use a credit card, I only pay with one and have never been charged for the privilege.

Been with then for about 2 years never paid interest or charges.

John

Marcio45

I like to buy with Very. Most of my gadgets were bought there and same price as other retailers. Often i receive promotions and vouchers that make them cheaper. Just recently they were offering 20% off a macbook, which i took advantage off.
They are no worse than other retailers, you just have to well aware of the way they work. I have taken advantage of their buy now pay later deals many times and never had a problem.
to note:
- postal charges have to be paid on next statement. If doesnt get added to your credit account, so you dont have up to one year to pay it back. This is one of the major problems, when people dont read it properly.
- buy now pay later deals are good if you pay up to the end of the deal period (6, 9 or 12 months). If you miss that deadline you will have to pay all the interest since day 1 (date of purchase), so it would be a very bad deal, considering the interest rates are around 40%.
basically, knowing the rules, Very is one of the best places to shop online.

m4rc

ainsley751 wrote: »

Definitely closing asap, over priced products with overpriced interest! Thanks for all the help!

They are far from overpriced, and with their regular discount codes I save a fair amount buying from them, and their sales are usually pretty good too.

I use them for buy now pay later deals, pay it off interest free over 12 months and have never given them a penny in interest. If you use them to purchase items and then let the interest mount up then yes it's expensive, but so are credit cards if you don't clear them. It's how credit works.

BNPL is as good as a 0% deal on a credit card for 12 months, just make sure you actually clear it, too many people don't or hey forget about it.