Argos Buy Now Pay 9 months

[Angy]

I have argos store card for about 5 years. I bought a laptop via "Buy Now pay 9 months". I did not pay anything in the 9 month period but started paying afterwards. I was suprised that they charged me a £80 saying itis interest i ought to pay before. I just dont understand.

I have bought a computer via HFC in a similar way but i was not charged in a bulk way, they only started charging me the very month the 9 month expired.

 

Any advise please?

[Guest wino]

Have you checked the T&Cs on your agreement?

 

I bought a computer a few years back it was buy now pay in 12 months. I paid in full just before the 12 months otherwise I would of been charged interest on the 'free' 12 months as well as ongoing interest.

[Nagasis]

They did this with me.

 

When you purcharsed the item only the payments were deferred. Not the interest. They start charging interest as soon as you make the purchase. If you don't pay off the full amount before 9 months is up they add the interest that has accrued for the previous nine months from the point of sale.

[Bookworm]

I think you'll find that HFC will have charged you in the same manner, even if you don't think so, check your documents. The interest accrues from the date of the agreement and gets waived if you pay off in full before the end of the BNPL, but gets whacked on if you go over even by one day.

[Angy]

Where is going to be the agreement? I dont think i signed one except when i applied for the card. I cant just remembered.

 

I am sure HFC dont charge me backward. They started charging on the whole amount after the "free months"

[Bookworm]

Trust me on this, I have the letter right in front of me, as I just paid one off on Friday. They would have sent you a letter before the BNPL ended reminding you of the terms and what it would cost you if you didn't settle, including the interest terms, or £25 if you pay in full before the BNPL ends. All BNPL work on that principle, you don't think they do it out of the goodness of their hearts, do you? ;-)

 

As for Argos, check the back of the statement, it tells you how they do it, and when a BNPL is about to end, they also send you a letter warning you it's about to end and how much it's going to cost.

[Guest wino]

I cannot remember which company did the finance for my comp but I bought it from Staples. I got the letter explaining about the payment terms and the interest payable the week after I bought the comp. I pinned it to my notice board in the office and set reminders and wrote in my works diary to make sure it was paid off one month before it was due. I did not receive any reminders:rolleyes:

[hallowitch]

Trust me on this, I have the letter right in front of me, as I just paid one off on Friday. They would have sent you a letter before the BNPL ended reminding you of the terms and what it would cost you if you didn't settle, including the interest terms, or £25 if you pay in full before the BNPL ends. All BNPL work on that principle, you don't think they do it out of the goodness of their hearts, do you? ;-)

 

As for Argos, check the back of the statement, it tells you how they do it, and when a BNPL is about to end, they also send you a letter warning you it's about to end and how much it's going to cost.

 

 

100% correct i use Argos BNPL all the time

 

Bookworm Ive never been charged £25 when i pay it in full before the due date last one i paid was in November/December

[Bookworm]

Sorry if I wasn't being clear, HFC charges £25 "settlement" fee, not Argos.

 

I actually need to pick a bone with Argos on the last one, they sent me my statement with the reminder of the BNPL finishing... 2 days after the date at which it was ending! Will be having a few words with them about that.

[Angy]

Is it possible to freeze the interest and arrange to pay monthly until the balance is paid up?

[Angy]

I have argos store card for the last few years. I have been paying the minimum payment ever since. I have 2 problems with them.

 

1) About 2 years ago, i bough an item on Buy NOW pay later(9 months). After the 9 months. I was asked to pay all interest. like 80 pounds.

 

2) While i was having financial difficulties, i engaged a debt management company who contacted them.I did NOt eventually use the debt management company.But i later continue to pay the minimum payment and they continue to charge me interest. My statement always state that i have over 100 pounds to spend.Yesterday, I wanted to buy something from them and i rang them. They just told me, i cant because the card will not be able to work .

 

Please give me general advise and how could i stopped the interest.

Cheers

[Angy]

Also do argos have right to charge me backward interest on the Buy Now Pay Later. Cheers

[MrShed]

1) I believe this is in their T&Cs - I cant see any reasoning behind not getting charged this interest.

2) What reason did they give for the card not working? Are you in arrears with repayments?

[Angy]

1) I never knew of such T& C to be honest. About 8 years ago when i bought a PC via currys using the same scheme, and i did not pay anything during that time. What they did was they started charging me after the interest free period NOT backward interest as in this.

 

2) When i rang them today, argos said that i cannot use the card because one company had written them few years ago about my financial situation. I was shocked about this. I could have defaullted long time to get the interest frozen. My statement keep reflecting how much i have to spend for the last 3years.

[dx100uk]

prob find they changed the t&c during that time and you didn't look at the revised T&C they sent you.

 

why not SAR them, and inc a line stating this is to include copies of all agreements & relevent t&C's for the term of the card

 

that way also you'll get statements & i bet lots of charges you can reclaim too!

what about ppi?

 

dx

[MrShed]

1) I never knew of such T& C to be honest. About 8 years ago when i bought a PC via currys using the same scheme, and i did not pay anything during that time. What they did was they started charging me after the interest free period NOT backward interest as in this.

 

Different company though. When I used to work at Argos (a LONG time ago) this was certainly in their T&Cs then. It is not unusual practice.

 

2) When i rang them today, argos said that i cannot use the card because one company had written them few years ago about my financial situation. I was shocked about this. I could have defaullted long time to get the interest frozen. My statement keep reflecting how much i have to spend for the last 3years.

 

Which company?? Sounds like this could be in breach of DPA?

[Angy]

Which company?? Sounds like this could be in breach of DPA?

Churchwood

[Angy]

Argos have sent me the bunch but the letter purported to have been written to them by churchwood is NOT there. What can i do?

Cheers.