Help with a store card

M47

Hello everyone,

Just under a year ago I took out a store card (buy now pay in a year) To buy some essential furniture and intended on paying it off gradually over the year, however other bills prevented me from doing this.

in around 3 weeks I will be liable to payoff the whole thing, however I do not currently have these funds.

 I will be obtaining a large amount of money from a property sale within around 3 months, however I need to find a resolution now to meet the store card deadline.

 I have been told that my credit file will be effected if I do not pay this off in full in time.

Are there balance transfer products or any new deals that I could take out to transfer the balance onto until I have been able stabilise my financial situation?

Thank you in advance 

Penguin_

What store card is it? 

Normally with the buy now pay in a year, you have a year to pay it of without any interest & after a year they start to add interest. 

Ebe_Scrooge

It depends.  Most store cards are just ordinary credit cards that have been rebranded.  If this is the case in your situation, you have 2 options.  Find a balance-transfer card to transfer the balance to, or make the minimum payments each month, suck up the interest for three months, then clear it as soon as you're able.

If you can tell us exactly what store card it is, we can check the specific T&C's to see what the score is.

For future reference, there is no need to splash out on "essential" furniture.  Second-hand shops and charity shops (especially some of the big ones like BHF) are rammed full of really good-quality items for a fraction of the price you'd pay new.  Always worth considering if funds are tight (actually, even if funds are not particularly tight - we've picked up some cracking bargains over the years from our local BHF "big store").

born_again

Balance transfer will not work on a store card. 
Your only hope is a money transfer card. 

https://www.moneysavingexpert.com/credit-cards/money-transfers/

martinbainbridge1975

MBNA do a money transfer card for up to 18 months with a 4% fee, they have an eligibility checker on their website.

maybe worth a look

MallyGirl

Do try and get a money transfer card as, once you are past the BNPL period. they usually backdate the interest to the start (not just charge it from that point onwards).