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    Console Credit/Finance Plans

    Hey there, I was thinking of buying a Nintendo Switch on a credit plan with either ShopTo or Argos. I would preferably use the 12 month option to keep interest at a low and pay it off quicker. Just wanted to know if anyone else has used these finance plans for anything else before and anything I need to look out for. Thanks!

    16 Comments

    0% credit card would be better.

    Original Poster

    adamspencer95

    0% credit card would be better.



    I'm a university student and would rather not take out a credit card right now. I have the money to buy the Switch outright but would rather have it spaced out over a few months. Thanks for the shout tho! I'll look into it.

    Be mindful of the overpayment terms, make sure you can pay off the loan or make an overpayment at anytime, and if there is a fee for doing so.

    You'd be much better off getting a 0% Purchase Credit Card, such as the recent Halifax one, which would give you almost 2.5 years to pay it off, with no interest.

    http://www.hotukdeals.com/deals/halifax-0-purchase-credit-card-for-30-months-2-half-years-2618311

    Good luck with your purchase.

    Joshy27

    I'm a university student and would rather not take out a credit card … I'm a university student and would rather not take out a credit card right now. I have the money to buy the Switch outright but would rather have it spaced out over a few months. Thanks for the shout tho! I'll look into it.



    PayPal also offer a credit facility with 4 months to pay the balance off, again with no interest.

    paypal.com/uk/…dit

    Original Poster

    Pokkai

    Be mindful of the overpayment terms, make sure you can pay off the loan … Be mindful of the overpayment terms, make sure you can pay off the loan or make an overpayment at anytime, and if there is a fee for doing so.You'd be much better off getting a 0% Purchase Credit Card, such as the recent Halifax one, which would give you almost 2.5 years to pay it off, with no interest.http://www.hotukdeals.com/deals/halifax-0-purchase-credit-card-for-30-months-2-half-years-2618311Good luck with your purchase.



    I would be more inclined for the credit card usually but I don't feel too good paying it off in one go and paying back in my own time. I like the idea of a plan more just like how a phone contract works. Thanks for the credit card advice though. I will definitely give it some more thought. I'll look into the overpayment too.

    Original Poster

    Pokkai

    PayPal also offer a credit facility with 4 months to pay the balance off, … PayPal also offer a credit facility with 4 months to pay the balance off, again with no interest.https://www.paypal.com/uk/webapps/mpp/paypal-virtual-credit



    Paypal credit looks great! I will definitely give that some thought now too. Thanks very much for the help!

    Edit: Don't think Paypal credit will work for me since I need to have an income of over £10000 a year while I'm on £5000 from part time work plus student finance.
    Edited by: "Joshy27" 28th Feb

    Could get a Santander Student account as you get a £1,500 interest free overdraft which for me is a lot better than applying for credit elsewhere. I bank with Lloyds myself and the Santander account is there for the over budget things as I can easily pay it off within a good time frame without paying interest

    I've used my Argos Card to buy my TV, PlayStation, washing machine and my girlfriend has used it for her camera. I'm not short on money but I prefer to spread big purchases out to make day to day a bit easier.

    I've had no problems with it at all, bar the Argos Card site which is a pain to get in to at times.

    I've always used the 6 or 12 month interest free option and had no problems with it. Pay it off before the cut off date and you'll be fine and I've always paid off a little bit a month and I've never been hit with any fees etc.

    Original Poster

    caironjake

    Could get a Santander Student account as you get a £1,500 interest free … Could get a Santander Student account as you get a £1,500 interest free overdraft which for me is a lot better than applying for credit elsewhere. I bank with Lloyds myself and the Santander account is there for the over budget things as I can easily pay it off within a good time frame without paying interest



    I already have a student account with Barclays that doesn't really offer much of an overdraft and don't think there's any point to switching to Santander now since I am at the end of my degree. Thanks anyways!

    Original Poster

    axolotly

    I've used my Argos Card to buy my TV, PlayStation, washing machine and my … I've used my Argos Card to buy my TV, PlayStation, washing machine and my girlfriend has used it for her camera. I'm not short on money but I prefer to spread big purchases out to make day to day a bit easier.I've had no problems with it at all, bar the Argos Card site which is a pain to get in to at times.I've always used the 6 or 12 month interest free option and had no problems with it. Pay it off before the cut off date and you'll be fine and I've always paid off a little bit a month and I've never been hit with any fees etc.



    Brilliant! I was looking for feedback from someone that actually used the payment plans and sounds like you've had a good experience. I definitely will have the money every month to pay it off so sounds like it'll be fine for me. Thanks!

    Joshy27

    Brilliant! I was looking for feedback from someone that actually used the … Brilliant! I was looking for feedback from someone that actually used the payment plans and sounds like you've had a good experience. I definitely will have the money every month to pay it off so sounds like it'll be fine for me. Thanks!



    No worries! The only other thing is is mark the last payment date down somewhere as it's easy to forget when you've been using something for months and they won't remind you when your interest free is up (obviously). We completely forget we hadn't already paid off the washing machine but checked on a whim which was lucky!

    I use Argos card all the time, everyone shrieks in horror at the interest rate but I never pay any interest.
    6 or 12mths interest free depending on size of purchase and just pay it back well before the end of the free period.

    Original Poster

    Uridium

    I use Argos card all the time, everyone shrieks in horror at the interest … I use Argos card all the time, everyone shrieks in horror at the interest rate but I never pay any interest.6 or 12mths interest free depending on size of purchase and just pay it back well before the end of the free period.



    Thanks for the second opinion with Argos. Looks like Argos is perfect for me and I know I'll be within the time range of interest free.

    Joshy27

    Hey there, I was thinking of buying a Nintendo Switch on a credit … Hey there, I was thinking of buying a Nintendo Switch on a credit plan with either ShopTo or Argos. I would preferably use the 12 month option to keep interest at a low and pay it off quicker. Just wanted to know if anyone else has used these finance plans for anything else before and anything I need to look out for. Thanks!



    I started a 12 month one for PS4 Pro. Think It works out only 25 quid more than what the console Is In credit I'm paying and I didn't get charged the first month, started the month following but I got the Pro day 1 fine.

    I could have bought it out right just wanted to spread the cost so i know i'll never miss a payment but if you can pay it its fine and hassle free.

    Joshy27

    Thanks for the second opinion with Argos. Looks like Argos is perfect for … Thanks for the second opinion with Argos. Looks like Argos is perfect for me and I know I'll be within the time range of interest free.


    Usually a few % Quidco/TCB to be had on Argos purchases as well.
    I got 10% on my PS4 Pro

    You could try Littlewoods as you can get 12 months interest free. You need to make sure you pay it off within that time or you'll get hit with mega interest. There are no fixed monthly payments just pay as and when you want to.
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