Installments

szwh14

Hi

I just recently found out about Klarna and its Pay in 3 instalments (over 3 months). I was wondering if there was any other company doing the same thing but over a longer period of time? Without interest and fees.

Thank you for your help

[Deleted User]

0% credit cards would give you a much longer period and more flexibility.

szwh14

Is it 0% for a limited time? as i am worried i might not realise it and be charged interest.

[Deleted User]

szwh14 said:

Is it 0% for a limited time? as i am worried i might not realise it and be charged interest.

The offer you get will make it clear on acceptance e.g. 0% on purchases for 9 months = anything you spend has to be paid off inside 9 months to avoid interest

[Deleted User]

It's for a limited time, like Klarna, but a much longer limited time.

If you have a diary, or phone, you can put the end date in there as a reminder. You'll also see if on each monthly statement.

Assuming you don't slip into a coma, there's no reason for you to miss the end date.

Ebe_Scrooge

Just to add a note of caution.  You must never use this type of credit (whether Klarna or a 0% credit card or any other "buy-now-pay-later" scheme) to buy something you can't really afford.  If you're disciplined, and make absolutely sure that you'll be able to clear the full balance when the "term" comes to an end, then great - make use of it.  But if you fail to clear the balance then you'll be hit with interest fees - which can be quite substantial in some cases.

szwh14 said:

Is it 0% for a limited time? as i am worried i might not realise it and be charged interest.

There are 2 ways to make sure this doesn't happen.  Either, as ZX81 says, put a reminder on your phone, or a good old-fashioned physical calendar - and put money aside each month into a separate account to make sure you've got the money available to pay it all off at the end of the promotional period (though you do need to also make at least the minimum payment on a credit card each month).

Alternatively, set up Direct Debit payments to make sure the balance will be cleared.  For example, if you have a 0% deal on a credit card that runs for 2 years, and you put £2400 on it, set up a Direct Debit to pay £100 every month.  By the time 0% promotion expires, the balance will be cleared.

born_again

https://www.liverpoolecho.co.uk/news/business/klarna-customers-facing-big-shake-23859727

Good news. Which echo's the above post & how people can end up in serious trouble.