Currys: pay nothing for 12 months - am I allowed to pay before 12 months?

edited 27 March at 6:35PM in I wanna buy-it or do-it
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EasyToAssemble01EasyToAssemble01 Forumite
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edited 27 March at 6:35PM in I wanna buy-it or do-it
I've never really used buy now, pay later at all before, and just need clarification on something. Apologies if this is a silly question.
I'm interested in getting a new laptop, and Curry's have an interest-free period of 12 months. However, the wording is a bit confusing.
  • Pay nothing for 12 months, then pay balance at month 12 & pay no interest. 24.9% APR Representative*
    For the first 12 months you can pay nothing (24.9% APR Representative). At the end of 12 months you can pay the balance in full, with no interest to pay. If you choose not to pay the full outstanding balance at month 12, interest will be backdated on the remaining balance from date of purchase.
Does this mean, I can make payments before the 12 months (I intend to), or do I need to wait until month-12? Sorry if that's a silly question, but the wording doesn't make any reference to paying off before the last month.
Also, the main reason I'm considering this route, is that it may help in boosting my credit rating, so I figured maybe buying an item on credit might help (provided the payments are made on time). Would this positively affect my credit score?


Replies

  • cannugec5cannugec5 Forumite
    141 Posts
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    Yes you can start paying early. If you have paid a portion, rather than the whole amount by month 12 then interest is charged on the outstanding amount. You can then pay whatever is still due in month 12. 
    But do note that if you have paid nothing and it slips into month 13 you will be charged the interest rate on the whole purchase back dated to the day you bought it. 

    You need to be very careful to mark the date the payment is due as they rely on people forgetting to pay it off, to make them extra income! Don’t anticipate any reminders from Curry’s, you have to be very self disciplined for this to work to your advantage. 
  • MarconMarcon Forumite
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    cannugec5 said:
    Yes you can start paying early. If you have paid a portion, rather than the whole amount by month 12 then interest is charged on the outstanding amount. You can then pay whatever is still due in month 12. 
    But do note that if you have paid nothing and it slips into month 13 you will be charged the interest rate on the whole purchase back dated to the day you bought it. 

    Don't think so. 

    I've never really used buy now, pay later at all before, and just need clarification on something. Apologies if this is a silly question.
    I'm interested in getting a new laptop, and Curry's have an interest-free period of 12 months. However, the wording is a bit confusing.
    • Pay nothing for 12 months, then pay balance at month 12 & pay no interest. 24.9% APR Representative*
      For the first 12 months you can pay nothing (24.9% APR Representative). At the end of 12 months you can pay the balance in full, with no interest to pay. If you choose not to pay the full outstanding balance at month 12, interest will be backdated on the remaining balance from date of purchase.


    The 'remaining balance' surely refers to the amount unpaid at month 12, not the original (whole) purchase price?
  • cannugec5cannugec5 Forumite
    141 Posts
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    Marcon said:
    cannugec5 said:
    Yes you can start paying early. If you have paid a portion, rather than the whole amount by month 12 then interest is charged on the outstanding amount. You can then pay whatever is still due in month 12. 
    But do note that if you have paid nothing and it slips into month 13 you will be charged the interest rate on the whole purchase back dated to the day you bought it. 

    Don't think so. 

    I've never really used buy now, pay later at all before, and just need clarification on something. Apologies if this is a silly question.
    I'm interested in getting a new laptop, and Curry's have an interest-free period of 12 months. However, the wording is a bit confusing.
    • Pay nothing for 12 months, then pay balance at month 12 & pay no interest. 24.9% APR Representative*
      For the first 12 months you can pay nothing (24.9% APR Representative). At the end of 12 months you can pay the balance in full, with no interest to pay. If you choose not to pay the full outstanding balance at month 12, interest will be backdated on the remaining balance from date of purchase.


    The 'remaining balance' surely refers to the amount unpaid at month 12, not the original (whole) purchase price?
    Yes, as I said. If you have paid NOTHING, by the time you are in month 13. 
     Thus the entire purchase price is the ‘remaining balance’ .  
  • MarconMarcon Forumite
    4.3K Posts
    Fifth Anniversary 1,000 Posts Name Dropper Combo Breaker
    ✭✭✭✭
    cannugec5 said:
    Marcon said:
    cannugec5 said:
    Yes you can start paying early. If you have paid a portion, rather than the whole amount by month 12 then interest is charged on the outstanding amount. You can then pay whatever is still due in month 12. 
    But do note that if you have paid nothing and it slips into month 13 you will be charged the interest rate on the whole purchase back dated to the day you bought it. 

    Don't think so. 

    I've never really used buy now, pay later at all before, and just need clarification on something. Apologies if this is a silly question.
    I'm interested in getting a new laptop, and Curry's have an interest-free period of 12 months. However, the wording is a bit confusing.
    • Pay nothing for 12 months, then pay balance at month 12 & pay no interest. 24.9% APR Representative*
      For the first 12 months you can pay nothing (24.9% APR Representative). At the end of 12 months you can pay the balance in full, with no interest to pay. If you choose not to pay the full outstanding balance at month 12, interest will be backdated on the remaining balance from date of purchase.


    The 'remaining balance' surely refers to the amount unpaid at month 12, not the original (whole) purchase price?
    Yes, as I said. If you have paid NOTHING, by the time you are in month 13. 
     Thus the entire purchase price is the ‘remaining balance’ .  
    Apologies - you did and I misread!
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