Home & Garden1 min ago
interest free credit issues
8 Answers
I hope that someone will be able to help me with my question?
I have just registered and been accepted for credit at an online department store. The credit limit is £750 and is under the buy now pay later scheme, so means that I can have the things I want now but must have them paid for by next year.
Okay, I understand this first part, however, the products that I select all must be interest- added in the event that you don't make your repayment of the goods by the one year credit agreement. This means that the goods that I want then become far more costly as a result overall and eats up my credit limit. The customer services operator I spoke to earlier today said that I would only have to pay the balance on my account if paid for all my items by next year (does this mean the interest is included?)
Example:
My credit limit: £750
Must pay 29.9% interest on all goods over a 104 weeks (can only select this option if want to proceed with my order, cannot proceed with order on interest-free items over a one year period. This means that my credit will be eaten up by interest added items so limits me to how much of the credit I can use, have I got this right and does anyone know what I am talking about?
I have just registered and been accepted for credit at an online department store. The credit limit is £750 and is under the buy now pay later scheme, so means that I can have the things I want now but must have them paid for by next year.
Okay, I understand this first part, however, the products that I select all must be interest- added in the event that you don't make your repayment of the goods by the one year credit agreement. This means that the goods that I want then become far more costly as a result overall and eats up my credit limit. The customer services operator I spoke to earlier today said that I would only have to pay the balance on my account if paid for all my items by next year (does this mean the interest is included?)
Example:
My credit limit: £750
Must pay 29.9% interest on all goods over a 104 weeks (can only select this option if want to proceed with my order, cannot proceed with order on interest-free items over a one year period. This means that my credit will be eaten up by interest added items so limits me to how much of the credit I can use, have I got this right and does anyone know what I am talking about?
Answers
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