Very.co.uk

rockerchick

Sorry if I've posted this is the wrong place but I couldn't find a more suitable place to post it. I got accepted for a very credit acc. I ordered £40 worth of clothes just to see how it works (which has been dispatched already), im just confused about one thing and I've looked online but can't seem to find an answer to my specific situation but I'm aware of their high interest rates but my question is, does that apply regardless or if I pay it as soon as I get my first statement will the interest not apply? First time doing this so just getting used to it. Thanks in advance for your help. (Just worth nothing it won't offer me buy now pay later or take three because it's under the minimum order for those)

London50

As with all credit {be it CC or mail order} if you pay in full by your statement date you do not pay interest. The only time interest is charged is if you only pay either the min or part of the cost then the rate applies to your balance.
I have been using this system for many years and pay in full each time with no charges

Lip_Stick

Generally with such sites you get a date on your statement letting you know when interest charges will start to be applied. The first statement won't include charges.