If you are shopping with Argos and plan to finance your purchases, you have a few options which you can go through for the different items that you are going to buy. So what are the terms you will find with your Argos card? These are a few of the repayment options you can choose from as a customer.
Buy now, pay later –
As long as your order exceeds a value of £50 you have up to 3 months interest free repayments. At £99 customers have six months, at £299 up to 9 months, and items at £250 or higher (on certain items like jewellery), you qualify for up to 12 months repayment interest free. The items purchased in most cases will dictate the repayment terms and interest free terms you will receive. For example, for items like furniture, as long as the value of the purchase is £199 or higher, customers receive up to 12 months interest free. So it is important to understand purchase categories, so that you know what your repayment terms are and how much time you have for interest free repayments.
Normal credit –
The second option for those who do not want to spend a certain amount when shopping with Argos is to simply go the traditional credit card route. Here customers are going to pay interest on the purchases made, based on factors like their income and credit score and history. If you spend £50 or less, you will pay interest on the items being ordered from the site, and will receive a normal credit card bill each month. Additionally, if you do not repay the full value of items ordered through the buy now, pay later method, you will have to pay interest on the remaining value you owe on these items. Interest rates begin at an introductory 29.9% APR, so this should be taken into consideration if you plan on purchasing items on finance with the normal credit route.
Customers who want to take advantage of interest free must purchase items valued at £50 or higher. Apart from this, there are no additional criteria in place for buy now, pay later. If the value is lower than £50, the only other financing option available if to use the normal credit financing offered by Argos, which will incur interest on the very first payment the customer makes on their statement balance.