Frasers Plus

sunflowerdream

Hey all, trust me I've tried searching the forum but keeps giving me House of Fraser competitions.
Anyway Frasers Plus have taken over my Studio account and they've added over £400 interest and it's giving me such a headache, I paid over 50 quid the first month despite it saying no payment was required, that seemed to push the interest up more.  

I've had a look on the app and it's total balance is £776.57 

Then you click on that and it's remaining £706.16

Then you open statements and add of 8 October 2025 the settlement balance is £361.94

I can pay off in full but I don't know what balance to pay, I don't want to pay off the settlement balance and then as before have more interest added. 

Looking at reviews I'm surprised this company is allowed, it's ridiculous, also puts me off calling them as their customer service is not rated well at all. 

Thanks in advance, I'm off to bed shortly but hopefully will get back before work tomorrow to see if any advice. 
Sweet dreams everyone.

marcia_

sunflowerdream said:

Hey all, trust me I've tried searching the forum but keeps giving me House of Fraser competitions.
Anyway Frasers Plus have taken over my Studio account and they've added over £400 interest and it's giving me such a headache, I paid over 50 quid the first month despite it saying no payment was required, that seemed to push the interest up more.  

I've had a look on the app and it's total balance is £776.57 

Then you click on that and it's remaining £706.16

Then you open statements and add of 8 October 2025 the settlement balance is £361.94

I can pay off in full but I don't know what balance to pay, I don't want to pay off the settlement balance and then as before have more interest added. 

Looking at reviews I'm surprised this company is allowed, it's ridiculous, also puts me off calling them as their customer service is not rated well at all. 

Thanks in advance, I'm off to bed shortly but hopefully will get back before work tomorrow to see if any advice. 
Sweet dreams everyone.

 The settlement balance is what you pay. The higher balance is that if you don't pay and it accrues interest 

ManyWays

Studio accounts were usually very expensive, has frasers increased the interest rate?

If you can pay it off in full, why not do that and then next month sort out any small residual interest, this will be less the sooner you clear a large chunk

QrizB

I've got a Frasers Plus account; I signed up in a moment of weakness when buying sports shoes for my kids at the end of the school holidays.

I've only used it for the "pay in 3" option and it seems pretty transparent.

sunflowerdream

Thank you.

I always thought Studio weren't too bad, saying that though they were much better than they are now and then Frasers were forced upon me, I'm going to pay off today I was just unsure as to which balance they required. 

I think when they took on Studio they didn't do instalment plans, they seem to be all over the place with payments, pay one month when it says no payment due and interest seems to go up. Strangest company I've ever dealt with.

Looking at reviews on Trustpilot a lot are stuck with them. It's horrible.

Thanks again

QrizB

I've just taken a look in my app. This is what it says for "total balance":

So it includes all the interest you're likely to pay on your current payment schedule.

If you pay it off faster, you'll pay less interest.

sunflowerdream

I just asked their app chat this was their reply

"If I pay my settlement balance of £361.94 today will there be no more interest added?

If you want no more interest added, you must replan your balance to a 1 month instalment plan before paying the full settlement amount.

Simply paying the settlement balance without changing your plan will not stop further interest from being added."

Now I just have to figure out how to change my instalment plan as it doesn't really make it clear. I just want to pay off instead of them keeping me until 2029.

QrizB

sunflowerdream said:

Now I just have to figure out how to change my instalment plan as it doesn't really make it clear. I just want to pay off instead of them keeping me until 2029.

If I tap on the "total balance" from the home page (or if I tap on the three bars(?) in the top-right corner of the app) it takes me to an overview screen.

From there I can choose the "spending" tab. That shows my transaction history under "spending by month".

If I thien pick a transaction, I can see a "change plan" button.

Using the "change pan" button I can adjust how many months I want to pay back that transaction over. (I don't want to change any of my plans, so I haven't gone any further than this.)

Does this help?

sunflowerdream

Thank you for that, I've been able to change to one month plan but now it's saying £524.54 is due. 
This company has had me in tears today, good job I'm working from home. I think I'm just going to have to pay it and get them out of my life. 

Thank you again all.

sunflowerdream

So I went to play the £524.54 and it's saying that the payment will go towards my bill and won't change the interest added, I've not paid yet as everything seems to be making it look like I'll still have to pay over £700. What a headache, they don't even seem to have real humans I can talk to.
Studio should be ashamed of themselves throwing people to Frasers.