Help please with Very catalogue

[Mrsj42]

Hi
i have been with very catalogue for years and have always paid ontime every month without fail. I usually use the take 3 option to pay things quicker with less interest. This month i went to make my usual payment and noticed almost £200 had gone off the balance so i queried it and this is the reply i got....

Dear Mrs Johnson,

Thank you for your e-mail concerning buy now pay later interest the interest that was added was accumulated over the buy now pay later period there would still be interest each month but that would vary as the Very account interest rate is direct to you and generally it wouldn't be such a large lump sum unless another buy now pay later was ending or there were multiple items incurring interest.

Buy now pay later is a payment free period at the end of I would recommend you pay to clear the buy now pay later or you will incur interest even if you pay the take 3 as the take 3 only covers items ordered on standard terms not buy now pay later terms.

I hope this helps to clear matters for you

Kind Regards

James Bilcliff
Very.co.uk customer services team

If I'm not in, anyone else on our dedicated Very team can read my notes and help you.
See what's in store at www.very.co.uk

Now i have never had this happen before nor have i been warned of this,is this legal as i have several items items on bnpl and am absolutely worried to death that these "interest" payments being added will cripple me and put me serious debt!
thank you for your help,
mrs johnson.

[Amethyst]

Re: Help please with Very catalogue

With Very you do have to keep a close eye on the BNPL orders - there was a separate list of those on the site - I used to make my minimum payment, or take 3 depending, and then go and pay lump sums off the BNPL stuff before it ran out of interest free ( until I missed a couple and things went insane but that's another issue altogether lol )

It should show on your online account where this has come from, something will have just finished its interest free period and at that point you get the whole whack of interest in one hit ( and it's something between 30% and 50% PA ) So could be something of £400 you bought 12 months ago.

Once you figure out what it is you can try going through the formal complaints process - it really isn't very clear about the BNPL separate payments.

[enaid]

Re: Help please with Very catalogue

T&Cs in simples or so they say

http://www.very.co.uk/web/en/howveryaccountworks.page

[Amethyst]

Re: Help please with Very catalogue

It's a piece of cake if you only buy one item on one date and just pay it off within the interest free period. It gets complicated when you are buying and returning stuff over the year, with your credit limited being ramped up as quickly as possible of course, until one day you just can't do the BNPL before interest is whacked on (and that's a whole 12 months interest at 30-50% in one hit).... or you just don't realise that making your minimum (or more) standard payments isn't actually stopping the BNPL clock at all as it all gets mingled in together unless you go looking for the BNPL deadlines.

[Mrsj42]

Re: Help please with Very catalogue

Thank you everybody for replying to me. Looks like im in trouble then �� Will have to try sort something out,again thank you all so much for your help i appreciate it very much.