Littlewoods & applying for buy now pay later

littlewren

Not sure where to post this as it's to do with buying a laptop on Littlewoods website on Buy Now Pay Later, but I noticed when Googling that someone from a few years back had posted a question about buying from Littlewoods on this part of the forum, so hopefully ok.

I need to buy a new laptop as mine is running so slow it's on its last legs, but I would like to buy now pay later and I see that it's possible with Littlewoods. I am retired though, with just a state pension so does anyone know if I would automatically be rejected because of this? I would rather have some idea of the necessities before applying because I have a good credit score, always pay bills on time etc and I don't want to have a credit search if it's probably going to be a straight 'no way.'

Many thanks in advance

[Deleted User]

You won't be automatically declined - a pension is still an income.

It will depend on your circumstances and the lender's criteria.

Willing2Learn

littlewren wrote: »

I need to buy a new laptop as mine is running so slow it's on its last legs, but I would like to buy now pay later and I see that it's possible with Littlewoods.

The typical interest rate used to calculate BNPL interest is 44.9% per annum. It would be more MSE to make the purchase using a credit card as the interest rate would normally be lower...Plus s75 protection too...

Ben8282

Do you make frequent applications for credit? Just wondering because you appear to be unusually concerned about the possible impact of a single hard search on your 'very good' credit score.
I can see no reason for an automatic rejection. Have you suffered automatic rejections in the past?
Just make absolutely sure that you pay in full before the end of the buy now pay later period because

interest will be charged for the delayed payment period and the chosen repayment period.

Interest is calculated and compounded daily at a typical rate of 44.9% per annum for the delayed payment period and repayment period and is charged to your account at date of order as a lump sum. This calculation factors in the planned payments that are requested during the repayment period. Your interest rate is personal to you and will be detailed in checkout.

phillw

littlewren wrote: »

I need to buy a new laptop as mine is running so slow it's on its last legs, but I would like to buy now pay later and I see that it's possible with Littlewoods.

What is the specification of your current laptop?
What are you looking to buy?

You may be trying to solve the wrong problem.

SnowTiger

I don't think someone who receives a state pension and has a record of paying their bills on time would have difficulties opening a Littlewoods account.

Very is usually (significantly) cheaper than Littlewoods.

An example:

https://www.very.co.uk/hp-15s-fq0008na-intel-core-i5-8gb-ram-512gb-ssd-156-inch-full-hd-laptop-natural-silver/1600401453.prd

https://www.littlewoods.com/hp-15s-fq0008na-intel-core-i5-8gb-ram-512gb-ssd-156-inch-full-hd-laptop-natural-silver/1600401453.prd

Same laptop. £479.99 from Very and £599.99 from Littlewoods.

Very and Littlewoods are brands of Shop Direct.

With Very and Littlewoods you should bear in mind that if you don't pay for the laptop in full before the BNPL period ends they'll add a year's worth of interest to your account, then continue to add interest until the balance is cleared.

If I were you I'd apply for a credit card that offers a 0% interest free period and use that to purchase a laptop. You'd then have a wider selection of places to buy it from. Very and Littlewoods are usually quite expensive.

T-G-C

Do you have a pulse? Congratulations, Shop Direct would love to approve you.

In all seriousness, be careful with them. Make sure that you take note of the expiration date of a BNPL plan and clear the balance in affordable installments of your choosing during the 0% period, as failure to do so will result in backdated interest being applied.

Your pension is a source of income and provided that this, along with their credit check (which is not strict at all) has passed, then it should be good to go.

One thing to note however...

Being accepted for an account does NOT automatically qualify you for BNPL. They could only provide the option for weekly payments which is still 0% but requires a payment each month.

Their internal system removes the option for BNPL on purchases for some customers. Whether or not the option will be made available at the checkout depends on their internal criteria and risk.

littlewren

Willing2Learn wrote: »

The typical interest rate used to calculate BNPL interest is 44.9% per annum. It would be more MSE to make the purchase using a credit card as the interest rate would normally be lower...Plus s75 protection too...

I would be paying off for the laptop before the BNPL date was up though to avoid incurring any interest.

littlewren

Ben8282 wrote: »

Do you make frequent applications for credit? Just wondering because you appear to be unusually concerned about the possible impact of a single hard search on your 'very good' credit score.
I can see no reason for an automatic rejection. Have you suffered automatic rejections in the past?
Just make absolutely sure that you pay in full before the end of the buy now pay later period because

interest will be charged for the delayed payment period and the chosen repayment period.

Interest is calculated and compounded daily at a typical rate of 44.9% per annum for the delayed payment period and repayment period and is charged to your account at date of order as a lump sum. This calculation factors in the planned payments that are requested during the repayment period. Your interest rate is personal to you and will be detailed in checkout.

No I don't, but I did apply for a credit card last year and was turned down twice, which was unusual as it was the first time I'd been turned down despite a good credit rating, so I thought that if someone told me it would be a straight 'no' I would save that hard search with Littlewoods.

littlewren

phillw wrote: »

What is the specification of your current laptop?
What are you looking to buy?

You may be trying to solve the wrong problem.

I don't know the specifications other than it's a Samsung Windows 10, about 11 years old and although I have always been careful not to download unnecessary stuff, according to my brother who repairs computers - but unfortunately lives in Ireland, otherwise I'd ask him to look at mine ! - it's probably the processor.

I'm not sure what to buy, I would like a decent size screen, so between 15-17. Apart from that, all the specs that I see next to products is gobbledegook!

littlewren

SnowTiger wrote: »

I don't think someone who receives a state pension and has a record of paying their bills on time would have difficulties opening a Littlewoods account.

Very is usually (significantly) cheaper than Littlewoods.

An example:

https://www.very.co.uk/hp-15s-fq0008na-intel-core-i5-8gb-ram-512gb-ssd-156-inch-full-hd-laptop-natural-silver/1600401453.prd

https://www.littlewoods.com/hp-15s-fq0008na-intel-core-i5-8gb-ram-512gb-ssd-156-inch-full-hd-laptop-natural-silver/1600401453.prd

Same laptop. £479.99 from Very and £599.99 from Littlewoods.

Very and Littlewoods are brands of Shop Direct.

With Very and Littlewoods you should bear in mind that if you don't pay for the laptop in full before the BNPL period ends they'll add a year's worth of interest to your account, then continue to add interest until the balance is cleared.

If I were you I'd apply for a credit card that offers a 0% interest free period and use that to purchase a laptop. You'd then have a wider selection of places to buy it from. Very and Littlewoods are usually quite expensive.

I do have a credit card with £200 on it that I'm paying off & don't want to add to it as the 0% APR will be up soon. As mentioned in my previous post, I applied last year and it was declined for the first time ever, so I'm wary of trying again at the moment, probably daft I know.