How Does Argos Card Finance Work?

9
Found 26th Aug 2016
Hi

I got myself and Argos Card. Now there are few options during checkout which are;

- 6 Months Buy Now Pay Later
- Fixed Pay Plan 36 Mth at 29.9
- Fixed Pay Plan 24 Mth at 29.9
- Fixed Pay Plan 48 Mth at 29.9
- Normal Credit

I am interested in the third option; Fixed Pay Plan 24 Mth at 29.9 which states;
Representative example: Pay £9.75 over 24 Months with our fixed payment plan, APR 29.9% fixed. Total amount repayable £233.78, total interest charged £53.80.

£9.75 a month I can do. Now my question is on the fifth month can I pay the entire price off without paying any further interests?
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9 Comments
im sure you could get a credit card with a better rate than 29.9% apr?

and in relation to your question, i would assume so. i think it would just work as a normal credit card with a minimum monthly payment and you can spread it out as much as you want. at 30% apr though id be looking at alternative methods
If you are going to pay it off in the 5th month why not get the 6 months interest free instead?
You're better off getting a interest free credit card. A lot of banks offers like two years interest free. That way you can buy whatever you want and just pay minimum amount without paying interest for two years. And you can pay the full balance whenever as well.
Original Poster
wonkey

If you are going to pay it off in the 5th month why not get the 6 months … If you are going to pay it off in the 5th month why not get the 6 months interest free instead?



5 months for just an example. I could probably pay off the entire amount on 6th or 7th month.
Original Poster
razk2k16

You're better off getting a interest free credit card. A lot of banks … You're better off getting a interest free credit card. A lot of banks offers like two years interest free. That way you can buy whatever you want and just pay minimum amount without paying interest for two years. And you can pay the full balance whenever as well.



Any cards you'd recommend?
Original Poster
razk2k16

You're better off getting a interest free credit card. A lot of banks … You're better off getting a interest free credit card. A lot of banks offers like two years interest free. That way you can buy whatever you want and just pay minimum amount without paying interest for two years. And you can pay the full balance whenever as well.



I have an american express nectar card;
Representative example: Representative 25.0% APR variable. Based on annual fee of £25 and assumed credit limit of £1,200. Interest rate for purchases: 19.9% p.a. variable.

No idea what sort of minimum monthly repayment is for £179
I have an Argos card and think it's great as long as you pay it off before interest kicks in.
Picked up an Xbox one earlier this summer on a buy now pay later 7 month plan.
imagineS

Any cards you'd recommend?


M&s 0% for 24 months and free £25 voucher
Try moneysupermarket. I have a Yorkshire one and that's 26 months interest frew
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