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buy now pay later question

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Am confused about exactly how buy now pay later options work on multiple purchases. For example, if I bought something a few month ago that what buy now pay 6 months later I understand that as long a… Read More
kristianity77 Avatar
6m, 3w agoPosted 6 months, 3 weeks ago
Am confused about exactly how buy now pay later options work on multiple purchases. For example, if I bought something a few month ago that what buy now pay 6 months later I understand that as long as I pay the full amount over that time then it's interest free.

What happens though if I add another item at a later date which has its own plan say for 12 months?

Let's say item a was £300 and item b bought later on was £600. Do I now still have to pay only 300 by the end of the 6 month period and the remaining 600 by the 12 mknth period or what?

Do payments always come off the oldest items first I guess is what I'm asking?
kristianity77 Avatar
6m, 3w agoPosted 6 months, 3 weeks ago
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#1
Each agreement you take out is independent to the others so you can have as many as you want. Credit cards do have the same principle but you must pay the first transaction off within the interest free period otherwise the offer stops on that transaction and all others meaning you pay the standard Apr on everything
[mod][Mod Team]#2
It'll differ from place to place. Have a read of the credit agreement as it usually lists the order things are paid off e.g. here is very.co.uk

All payments will be applied firstly in the following order;
1. Any Payment Protection Insurance premiums and then other insurance premiums (including, first, any arrears).
2. Any default charges and then any other charges (including, first, any arrears).
3. Any other arrears or overdue sums on the account.
If you have paid less than the minimum payment, we will then;
4. Repay items on the standard interest rate, If you have more than one item, we will apply to the oldest item first;
5. Repay items on Interest Opt-Out.
If you have more than one item, we will apply to the oldest item first; or If you have paid exactly the minimum payment, we will then;
4. Repay items on Interest Opt-Out, promotional interest rates and the standard interest rate pro rata; or
If you have paid more than the minimum payment but less than any applicable optional Take 3 payment, we will then;
4. Repay the minimum due for items on Interest Opt-Out, promotional interest rates and the standard rate pro rata
5. Repay items on promotional interest rates. If you have more than one item, we will apply payment to the highest interest rate first and if there is more than one item on the same interest rate, we will apply to the oldest item first.
6. Repay items on the standard interest rate, If you have more than one item, we will apply to the oldest item first;
7. Repay items on Interest Opt-Out. If you have more than one item, we will apply to the olderst item first; or
If you have paid exactly any applicable Take 3 payment, we will then;
4. Repay the minimum due for items on promotional interest rates, the standard interest rate, and any optional payment for Interest Opt-Out and Take 3 Facility pro rata; or
If you have paid more than any applicable Take 3 payment, we will then;
4. Repay the minimum due for items on promotional interest rates, the standard interest rate and the optional payment for Interest Opt-Out and Take 3 Facility pro rata.
5. Repay items on promotional interest rates. If you have more than one item, we will apply payment to the highest interest rate first and if there is more than one item on the same interest rate, we will apply to the oldest item.
6. Repay items on Interest Opt-Out. If you have more than one item, we will apply to the oldest item.
7. Repay items on the Take 3 Facility if applicable. If you have more than one item, we will apply to the oldest item.
8. Repay items on the standard interest rate, oldest item first.
9. If you make a payment that is more than the full balance for all items due for payment (including new purchases) and also have Buy Now Pay Later (BNPL) items which are not yet due for payment, we will apply the excess towards those BNPL items, starting with the item which will next become due.
#3
Grumpy_womble is correct, each deal is independent as they are fixed term agreements i.e. one for 6 months and the other for 12 months.

What BeerDrinker describes is a credit card agreement (revolving credit) which is different.
#4
Stop and think before paying out £900
Do you want the stuff or need the stuff?

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