Argos card payment plans

mon2016

I had bought something and it said I wouldn't have to pay anything until 6 months however the credit was added to my account and I've been charged interest.

I already had credit used on the card before I bought this new thing, I assume the Buy Now Pay Later plan doesn't work when you already owe Argos money?

[Deleted User]

Are you sure you actually added it as BNPL? You have to tick the box if you want it else it defaults to standard terms.

Anthorn

mon2016 wrote: »

I had bought something and it said I wouldn't have to pay anything until 6 months however the credit was added to my account and I've been charged interest.

I already had credit used on the card before I bought this new thing, I assume the Bay Now Pay Later plan doesn't work when you already owe Argos money?

Buy Now Pay Later can be had even if you already have a buy now pay later plan: At one point I had the normal plan and three buy now pay later plans. But it's at their discretion so it's important to read the result of the buy now pay later application. Where credit is allowed but a buy now pay later plan is rejected the balance will go on the normal plan.

The balance of the buy now pay later plan must be cleared before the expiry date. If it isn't cleared interest is added from the purchase date and the whole balance is paid in instalments over the same period as the buy now pay later plan. For example you have a 12 months buy now pay later plan and fail to clear it by the expiry date. 12 months interest is added to the buy now pay later plan and the remaining balance is paid over the next 12 months. However partly paid pay later plans have interest added pro rata:

You won't be charged any interest if you pay off your plan within the Pay Later period and keep your account up to date. If you don't pay off your plan before it ends, you'll be charged interest at your normal plan rate from the date of purchase. However, if you choose to make payments without clearing the balance, the earlier you pay the less interest you'll be charged. Credit subject to status.

https://www.argos.co.uk/help/argos-card/

20aday

It might be worth contacting their Customer Service team and see what's happened.

I once purchased an iPad Mini 2 from Very.co.uk on a BNPL plan and for whatever reason it wasn't treated as such and therefore attracted interest.

Contacted them at the time and they managed to change it for me.

deadpan19

Hi I am new to these boards & I have an argos card..

I noticed something strange though & I donot know if this is normal practice for all store/credit cards or is it just Argos?

I received my statement (payment due 19th of the month) however the order of the statement is previous balance then added interest then payment received then new balance.

The date on the statement is the 21st the date they received payment was the 9th.

So here is my question are ARGOS stiffing all their customers for interest on the payments they received BEFORE the statement date?

In my case £60 payment for 11days interest?

(its probably about £1 the maths are quite fierce) but if they do this for EVERY card holder who pays earlier than the due date is that not theft?

I would be interested (lol) in your take on this..

It could be that it is industry wide in which case £millions have been taken!

Dobbibill

interest is calculated daily - the earlier you make a payment, the less days you will be charged for.

Billy-no-Money

Re the OP, I've been using an Argos card for several years now and never paid interest, usually with 3 or 4 BNPL plans on it - it's worth querying as sometimes you do need to request the BNPL at payment. This will be the default if paying online or at a self-service checkout, but may be different for purchases at a staffed till.

If you've already got the card and enough credit available there is no further credit check - 'entitlement' to the BNPL is automatic, but you do have to make sure you've selected it.

If you don't have it already, I recommend installing the Argos Card App - it makes it much easier to work with multiple plans than relying on monthly statements - and you can make payments off a specific plan at any time.