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fishtastic

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  1. Hi Flombay, This is a bit old but you may still be stuck. Take 3 and BNPL are two different things; Take 3 - If you pay 1/3 of your balance, you do not pay interest on the remaining debt. BNPL - Delays the first payment for, say 12 months if it's 12 months BNPL. But you then get backdated interest charged if you don't pay the item off before the BNPL charge date. I would guess the reason for your very variable interest charge is that you are getting BNPL items maturing. For example I owe £1000, my take 3 payment is £330, if I pay that there is no interest. If I pay the minimum, and my APR is 29.9, then miniumum payment is £50 and interest charge would be £20-odd quid (say £23). The big interest you are seeing is the maturing BNPL. So in the example above I add a £1000 plasma TV which matured last month they are going to add interest to my account this month ~ £300 so my balance is now £2.3k and the interest is £300 + ~£23 = £323 my minimum payment is £115. The month after, the interest would back down to ~£47. If you have enough for this month's payment and it's larger than one of the maturing items then make a targeted payment for that item, by ringing and paying, saying that you want to make a targeted payment. Cheers Fish
  2. Hi Lin, From what you are describing then the purchase was 104 Weeks "Interest Bearing Credit" with 12 months "Buy Now Pay Later". To avoid interest the sofa would have to have been paid in full before the 12 months was up. The way the price works is the original price agreed includes interest over 2 years (the 104 weeks) then you have interest for the 12 months added. If you pay with in the 12 months they will knock off all interest and do the cash price. The thing with Littlewoods over Very, is one is a fixed length product so you know it's x per week for y weeks rather than Very were it's a revolving credit like a credit card. If she didn't want to pay interest then 52 Weeks interest free @~£10 pw rather than the ~£7.5 pw for the 2 years payment term would probably be a better bet (or pick a sofa that was 208 weeks interest free, they are on the website). Cheers Fish
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