Argos - "Interest free"?

Most store cards are notoriously expensive so its not such a shock really. Im sure they rely on people not paying on time and therefore ending up with a big interest bill and a lot of profit for the credit company. Some store cards are even higher interest rates i believe. Try and save the money and buy it later for cash and then shop around and save money a lot of worry.

Don't even *Think about* forgetting to pay on time.

DG

Sharon O. wrote

I agree. They should have a special exemption rule for all Sharons.

PS: Two of my good friends are named Sharon. ;-)

There's no such thing as a free lunch. With manyy of these things you have to jump through hoops to get the deal. I doubt they send any reminder. To quote the subject line of one of my recent posts, things today are: "Hype, spin, and customer abuse." I guess it's always been thus, cf the folk song "These are the rigs of the times" but it's now more subtle than pushing the thumb down on the meat weighing scales.

Tiddy Ogg.

Dixons once did a similar 0% deal and it was exactly the same. As soon as the interest period is up you have a date to settle the final balance by otherwise you get hit with a huge amount, when I was buying my computer many years ago it would have been nearly half the cost of the pc!!!!

It can be a good option for people who are a bit strapped but have the disapline to put away the right percentage each month to pay it off at the end.

Tiddy Ogg wrote:

In message , Sharon O. writes

Youre right. They should ban those interest free periods completely!

What you appear to be saying is that the interest free period should be longer in case you forget. Hmm.

At 10:28:28 on 02/08/2006, Chris delighted uk.finance by announcing:

It's a good option for *anyone* who puts away the right percentage each month. My money is better off earning me 5% or so for 9 months in a savings account than earning me nothing in the merchant's account.

At 09:05:52 on 02/08/2006, Tiddy Ogg delighted uk.finance by announcing:

Doesn't anybody use calendars or diaries any more?

No. People don't use paper ones because they fear it will make them seem old fashioned, yet on the other hand they find the hi-tech ones too fiddly, so don't use them either.

Interest free periods should be exactly that - periods of borrowing for which no interest is charged. Interest should only start being charged from the end of the 'interest free' period and on the balance outstanding at that time. IANAL nor an accountant, but backdating and charging interest to cover an 'interest free' period if the balance is not cleared by end of the that period seems to me to sailing a bit too close to the wind wrt the Trade Descriptions Act (or whatever has replaced it).

"Graham Murray" wrote

They don't really "backdate the interest". Think of it this way:-

The interest accrues continuously across the full period (not just at the end), but they simply **waive payment** of that interest *if* you pay before the relevant date.

It's a *concession* (good thing), not a "bad thing"!!

"Alex" wrote

... or even people who *don't* "put away the right percentage each month", but will have enough at the end to pay it anyway.

For instance, someone who

I have often taken these offers up precisely because I already have the money and I am happy to receive a notional discount for my purchase. I make damn sure there is a reminder to make the payment a few weeks ahead of schedule.

I use the MSoft Works calendar for all kinds of reminders. With three re-cycling bins on different collection schedules it's essential.

It is a conditional interest free period for customers who comply with those conditions, and if the conditions are not kept it is quite reasonable for the concession to be withdrawn for the whole period, IMHO. IANAL,E.

At 16:18:51 on 02/08/2006, Tim delighted uk.finance by announcing:

Well, yes. That was implicit (but obviously not implicit enough).

But that's not the way it's advertised. It's advertised as interest free, or 0% or some such.

Tiddy Ogg.

There is a school of thought that says that you can only afford to take on a loan if you have enough savings to cover it.

My Broadband was advertised as "unlimited use". Welcome to the World :-)