Argos axes payment option before Christmas as shoppers now can't afford presents
A major UK retailer has axed a popular payment option with shoppers left struggling just three months before Christmas.
It's the latest blow for British shoppers during the cost of living crisis. Devastated Argos customers have been left worrying about whether they can afford presents for their loves ones this festive season. The company previously offered a 'buy now, pay later' (BNPL) service, where payment plans could be created lasting three, six or 12 months long.
However, the company, which has more than 1,200 stores across Britain, appears to have deleted the six-month option. As a result, customers can now opt for BNPL plans in more limited scenarios. If shoppers spend more than £30, they can elect a plan of up to three months, while 12 month plans can be chosen if you spend more than £199 on your Argos shop.
It's the latest blow for Brits during the cost of living crisis (PA)Angry shoppers have been left furious and confused over the major change, The Sun reports, with one asking why the sixth-month interest-free option is no longer available for those spending £99 or more. One said on X, previously known as Twitter : “Any idea when the six-month BNPL plan will be available again on the Argos card? Can't do my Christmas shopping at Argos without it.”
Writing in the Argos Complaints Group on Facebook, another said: “They’ve changed the Argos card plans a few times over the past couple of months." A third chimed in that the decision to axe the six-month option was "terrible" - and it could result in more customer paying the steep 34.9 per cent interest rate if they fail to pay up on time.
Shop prices 'are yet to peak and will remain high' as inflation hits new heights
Consumer champion James Daley, of the Fairer Finance campaign website, said: “Although Argos payment plans are presented as buy now pay later schemes, they are actually much more like regular credit plans - with serious consequences for not managing to keep up with payments.
Argos has quietly got rid of a major payment plan option (Bloomberg via Getty Images)“Removing the six-month option is going to be a heavy blow for many shoppers as they plan how to pay for the extra expense of Christmas at a time when the cost of living crisis is still biting." He added that Argos offering more flexibility instead of less, taking into account the current financial climate, would be "nice to see".
An Argos spokesperson said: "We regularly review our Argos card deals and the credit terms that we offer to meet the needs of our customers. Our latest offer is a buy now pay later plan on any product worth more than £199 with 12 months to pay, giving our customers a longer term payment option.
“Our customers value the Argos Card as it gives them the option to buy items and avoid paying interest, provided they cover the full balance within the agreed term. The vast majority of our customers pay their BNPL plans back within the term period and pay no interest. We see customers taking advantage of more than one plan in order to better manage their payments."
Read more similar news:
Comments:
comments powered by Disqus
