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BR and companies like Klara

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Dear all
My 6 year BR finished last year, and checked my credit files and all correct and up to date.
However when shopping online, I still cannot access the 'pay in 3 months' option from Klara. Anyone had success with any similar companies?

Comments

  • CKhalvashi
    CKhalvashi Posts: 12,134 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Probably it's worth noting that such companies are coming under increasing regulatory scrutiny, so they are being very cautious on affordability at the moment.

    We were planning to offer 'pay monthly' deals on part of our business (with an average sale likely somewhere around the £1k mark), where everything is paid before the services are received. As a result of the regulatory risk of this and the potential to be accused of mis-selling down the line, we have now made the commercial decision not to, and also to not partner with another company to do so.

    What do you need so urgently that you can't save for 3 months for?
    💙💛 💔
  • Emmia
    Emmia Posts: 5,731 Forumite
    Fifth Anniversary 1,000 Posts Photogenic Name Dropper
    edited 16 February 2021 at 2:00PM
    If you look the media stories, there is clearly a fear that Klarna and their ilk are essentially the next Wonga / payday loan scandal, as they could be encouraging unaffordable spending.

    Personally, unless the thing you want to purchase is incredibly urgent, and completely essential (I'm thinking boiler / oven / washing machine / fridge) I'd save up for the item over the 3 months.

    https://www.bbc.co.uk/bbcthree/article/3df91ac4-9098-46e9-b619-fae016bce3fb
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