Argos Card (not CC)

A question about : Argos Card (not CC)

I am currently financing a new bedroom for my daughter and it's costing a fortune, you know what kids are like, anyway that's not the point. She has seen the furniture and bed package she would like, all told just under Ј500.

Now my options for this are use plastic paying it off over 3 months but of course that will incur dreaded interest at 30% using my cheapest APR card Cap One. So I was wondering about the Argos Store card which will offer me 6 months interest free. The only snag is whether or not my credit file is going to be clean enough yet to get it. So I thought I would canvass some opinions from the knowledgeable people on here I would prefer not to incur interest, just because I have never paid a penny interest on any of my cards, always paid in full, on time since I've had them but Ј500 in one month is not doable (is that even a word?)

My file on Experian gives this snapshot:

Other important items that could affect your credit rating

Number of credit accounts (including those settled)8
Amount of available credit (excluding mortgages)Ј3,006
% of your total credit being used (excluding mortgages)1%
Amount of outstanding debt (excluding mortgages)Ј44
Number of accounts overdue0
Number of missed or late repayments in the last year0

Added to this there are 3 searches in the last 3 months
and the big one, which is what I think is holding me back more than anything else, 1 default 5 years old.

So is it worth the gamble on applying or am I just adding a new search for no point???

Best answers:

• I would try for a new purchase card,Tesco or M+S or a Creation 9 month deal
• I wasn't really thinking about a new CC because of the default, I was thinking mainstream cards might still be out of reach yet. Hadn't thought about Creation, are they a bit easier to get than say Tesco or other mainstream?
  I'm not that worried about the APR of a new card if it has 6 months grace on purchases as I know I would clear any balance in that time. A low APR would be nice though
• I agree, creation purchases card would be worth a gamble and gives you other options apart from argos, not that I've a problem with argos
• I'd agree with Creation also, one default 5 years ago hasn't stopped me getting two creation cards.
• If I go for the Creation card, will I get an automatic decision on a Sunday? Or will it automatically refer me because it's the weekend. Does anyone know? I sometimes that happens on a Sunday because it's not a working day, or at least I read it on here a few times.
  Also the Creation website for the 0% purchases card says on the FAQ's that you must not have any defaults! So has anyone with a default got one any time recently?
  Thanks guys
• Default will stop the argos card
• argos didn't decline me with default..
• Answer to your question:
  No.
• After a lot of deliberation and just not being sure which way to go, I decided on the following;
  a. I applied for the Argos Card - got the we will be in touch, so took that as a decline on the way.
  There was an article in this weeks MSE email about a Capital One Balance Transfer Card for people with poor credit ratings, Martin reckoned it was easy acceptance. So I have just applied for it, it gives 6 months at 0% but will incur a 3% fee.
  I got the three green ticks and an agreement number. Says they just need to carry out some further checks and will be in touch in a few days. It got me to sign an electronic agreement, so I suppose it might be given or might not.
  I got this far with a Progress application at the beginning of May and after not hearing for nearly 2 weeks, I rang to find out they had turned me down, so I will not get my hopes up this time.
  It also asked me for the details of the card I wanted to balance transfer, so I gave that as well. The only thing is I haven't spent the money on the card yet, so technically there isn't anything to transfer. I don't want to load that card up with Ј600 on it @34.95% if I don't get the balance transfer. Hopefully I will find out I've got the Cap One card and then buy the furniture from Argos and it will all go swimmingly well.
  If Cap One authorise the card and do the balance transfer before I have used the other card for the purchase, will it just get rejected? I've never done anything like this before so not sure how it works or what to expect.
  Just hope it all works out for me
• Doesnt capital one say to wait 6 months?
• Yes, I didn't realize that until after when I thought about it..... OOPS! More than likely then that the dear John will follow in a few days.
  Incidentally Argos emailed today with a decline, they aren't allowed to tell me why they said no but suggest I check with Experian who they used to make their decision. That will be the default kicking in again then.
  I know and appreciate that in effect you have to be punished for prior misdemeaners but I do think that when a person has a 5 year old default but no other negative factors and their report shows a steady building of a credit history they could look at things another way.
  After all if the default were to drop off say tomorrow, does not ncessarily mean I am any more credit worthy than I am today. Perhaps the system needs another way, just a thought.
• i have had an argos card for years and use it quite a lot. you get great interest free deals, and as long as you pay it off before the deal expires, then its an handy card to have
• hi i work for Argos if they say they will be in touch it doesn't always mean you have been declined we just need to do further checks to give a suitable credit limit although our store cards are brilliant we are increasing credit limits for certain customers from 29.9% to 39.9% in the coming months which we have never done before. So if you fail to pay before the bnpl period it the interest charges could become quite high.
• I just got an Argos store when replacing a laptop. I was instantly approved and selected the 'Fixed Payment Plan' @ 29.9% APR over 48 months. I'm pathetically nieve when it comes to money and thought nothing of it until it randomly hit me that I'm paying 29.9%!!
  I've yet to recieve my card and statement, but my 'welcome' letter boasts that I can call and 'pay early!'
  Am I right in assuming that this includes the APR too rather than being interest free?
  Does anyone know if Argos let you switch plans and shed this insane interest?
  (Sorry if it's rude of me to post this in here. I find I'm either moaned at for starting a similar topic or replying to an existing one with a slightly different question)
• @MDW180,
  they have differing plans which you select at time of purchase and it depends on the value of what you buy.
  Plans vary on 3, 6 and 9 months of buy now pay later which are interest free but will hit you hard if you don't clear that plan by the time the plan is up....i've been stung by this so keep an eye on the account!!
• Hi just to let the OP know I was instantly approved for an Argos card (purchased a new ipad on 6 months interest free).
  I have 3 defaults on my credit file just over 3 years old now with a credit score on Experian of 799 (fair!).
  So you can be accepted with defaults on your file..
• oh yeah, pigs fly