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Getting the most from your account
Here is an explanation of key features that you will need to understand to make the most of your credit account.
If you have any questions or require further information on any aspect of your account, please email us on creditagreements@shopdirect.com or call us on 0344 822 8000*.
Spread the cost with affordable payments
Your account is to be used to buy products and services from us, or other businesses we deal with, through our catalogues and websites.
By adding any purchase to your account you can spread the cost over 20 weeks interest free.
We also offer longer payment terms, from 24 weeks to 364 weeks on selected items and transactions to make the payments for larger purchases more affordable. These longer payment terms can either be interest free or interest bearing. We will advise you at the time of purchase.
Buy now pay later
We regularly offer buy now pay later promotions (BNPL) and display details of these in our catalogues, on our websites and in our advertising.
To make the most of our BNPL offers, it is important that you understand how and when we charge interest on them and how they work. Some BNPL transactions do not charge interest for the deferred period, only the repayment period and some BNPL Transactions charge interest for both the deferred and repayment periods. The terms and conditions of a BNPL offer will be detailed at the time of the offer. The deferred payment period will begin at point of order (including for those items which are purchased on pre-order and/or are not ready for immediate dispatch).
You can avoid paying interest on any BNPL promotion if you choose to pay the full cash price of the relevant transaction and tell us you are doing so by calling 0344 822 8000* before the end of the deferred period or go online via My Account and target a payment specifically to your BNPL Transaction. The payment must clear the BNPL transaction cash price in full by the due date shown on your statement.
The alternative to paying off your transaction in full, is to spread the cost at the end of the deferred period.
Repayment Plans
We may from time to time offer you the option to refinance the outstanding balance of selected purchases and transactions on the account. These Repayment Plan offers will be interest bearing and may include a payment break or a service fee, all of which will be made clear to you when we make an offer. Full details of Repayment Plans can be found in the agreement.
Your statement
You will receive a statement every 4 weeks, which will list your purchases, transactions, payments and returns during that 4 week statement period and tell you what your next minimum payment will be.
You must make at least the minimum payment by the date shown, which is currently 20 days after the date of the statement.
Your minimum payment will depend on the period over which you decide to purchase, and for longer payment terms, the interest rate that applies. It will include one fifth of the outstanding balance for each of your purchases made on 20 week interest free terms. If you buy using our longer interest free terms the minimum payment will also include an amount equal to the cost of the goods divided by the number of statement periods in the selected repayment term.
For instance, for purchases over 52 weeks, it will be the price of the goods divided by 13. For purchases on interest bearing terms, we calculate the full interest which will be payable over the chosen repayment term and add this to the cost of the goods. We then divide this total by the number of statement periods in the chosen term to produce the minimum payment for those purchases.
Finally, your minimum payment will include any service charges (such as payment service charges, insurance premiums and any administration or default charges) applied to the account in that period.
We apply each payment to the different balances and transactions on your account in a particular order. As there are so many options on our account, there are a number of stages and permutations in how we do this. Full details are contained in the information sheet and in the agreement. We will provide this information to you if you are successful in your application.
We do have a right to vary the terms of the agreement, including interest rates, the payment due date and the way the minimum payment is calculated. We will give you advance notice of any change which isn’t to your benefit, so you can pay off the balance before it takes effect if you are unhappy.
We may put your statements and any other notices that we wish to send to you, or are required by law to send to you, such as notice of sums in arrears and notice of default sum, in Transaction History of My Account on our website (or such other secure electronic location as we may notify to you). We will send you an e-mail to let you know when we do this. You agree that you consent to receive statements and notices in this way. Statements and notices will remain in My Account for up to 12 months after posting. We recommend that you print off or save a copy and keep it secure.
What to do if you can’t make a payment
It is important you pay each minimum payment when it is due. If you don’t you will incur account charges. Details of these are set out in the information sheet and agreement. We know you don’t expect to miss any payments but sometimes things don’t go to plan, and we don’t want these charges to be a surprise if you do have a problem.
If you do ever think you will have a problem in making payments then please contact our team on 0344 822 8000*. They understand that people can have difficulties from time to time and can help with a plan to deal with them.
It is especially important that you contact us early, as missing payments can have serious consequences, such as the transfer of an account to a debt collection agency or legal proceedings being taken. It may also affect your credit rating and make credit harder to obtain in future.
Changing your mind about your credit agreement
You can decide not to go ahead with the credit application at any time until the agreement is made, and even after the credit agreement has been made you’ll still have time to change your mind and withdraw. You get 14 days to withdraw beginning the day after the agreement is made. We treat the agreement as made when you sign it, or 14 days after you first take delivery of goods you have ordered and asked us to finance , if sooner. If you do decide to change your mind you should tell us as soon as possible by calling us on 0344 822 8000* or writing to Credit Support Team, Sandringham House, Sandringham Avenue, Chelmsford, CM92 1LE, or e-mailing creditagreements@shopdirect.com.
If you do withdraw after the agreement is made you will have to pay back any monies you have borrowed and all interest without delay, (within 30 days of withdrawing at the latest). If you cancel your application or withdraw from the agreement, you’ll have to use other ways to pay for any goods that you have received (such as debit or credit card), unless you still have a legal right to send the goods back. Usually this will only be the case if either they are still covered by a home approval guarantee, or by statutory distance selling rights. You can find Information on these rights in our catalogues or website.
Shop Direct Finance Company Limited is a member of The Finance & Leasing Association (FLA), and subscribes to The FLA Lending Code. For more information on the Lending Code please visit www.fla.org.uk.
Shop Direct Finance Company Limited. Registered number 4660974. Registered office: Aintree Innovation Centre, Park Lane, Netherton, Bootle, L30 1SL. Authorised and regulated by the Financial Conduct Authority.
Here is an explanation of key features that you will need to understand to make the most of your credit account.
If you have any questions or require further information on any aspect of your account, please email us on creditagreements@shopdirect.com or call us on 0344 822 8000*.
Spread the cost with affordable payments
Your account is to be used to buy products and services from us, or other businesses we deal with, through our catalogues and websites.
By adding any purchase to your account you can spread the cost over 20 weeks interest free.
We also offer longer payment terms, from 24 weeks to 364 weeks on selected items and transactions to make the payments for larger purchases more affordable. These longer payment terms can either be interest free or interest bearing. We will advise you at the time of purchase.
Buy now pay later
We regularly offer buy now pay later promotions (BNPL) and display details of these in our catalogues, on our websites and in our advertising.
To make the most of our BNPL offers, it is important that you understand how and when we charge interest on them and how they work. Some BNPL transactions do not charge interest for the deferred period, only the repayment period and some BNPL Transactions charge interest for both the deferred and repayment periods. The terms and conditions of a BNPL offer will be detailed at the time of the offer. The deferred payment period will begin at point of order (including for those items which are purchased on pre-order and/or are not ready for immediate dispatch).
You can avoid paying interest on any BNPL promotion if you choose to pay the full cash price of the relevant transaction and tell us you are doing so by calling 0344 822 8000* before the end of the deferred period or go online via My Account and target a payment specifically to your BNPL Transaction. The payment must clear the BNPL transaction cash price in full by the due date shown on your statement.
The alternative to paying off your transaction in full, is to spread the cost at the end of the deferred period.
Repayment Plans
We may from time to time offer you the option to refinance the outstanding balance of selected purchases and transactions on the account. These Repayment Plan offers will be interest bearing and may include a payment break or a service fee, all of which will be made clear to you when we make an offer. Full details of Repayment Plans can be found in the agreement.
Your statement
You will receive a statement every 4 weeks, which will list your purchases, transactions, payments and returns during that 4 week statement period and tell you what your next minimum payment will be.
You must make at least the minimum payment by the date shown, which is currently 20 days after the date of the statement.
Your minimum payment will depend on the period over which you decide to purchase, and for longer payment terms, the interest rate that applies. It will include one fifth of the outstanding balance for each of your purchases made on 20 week interest free terms. If you buy using our longer interest free terms the minimum payment will also include an amount equal to the cost of the goods divided by the number of statement periods in the selected repayment term.
For instance, for purchases over 52 weeks, it will be the price of the goods divided by 13. For purchases on interest bearing terms, we calculate the full interest which will be payable over the chosen repayment term and add this to the cost of the goods. We then divide this total by the number of statement periods in the chosen term to produce the minimum payment for those purchases.
Finally, your minimum payment will include any service charges (such as payment service charges, insurance premiums and any administration or default charges) applied to the account in that period.
We apply each payment to the different balances and transactions on your account in a particular order. As there are so many options on our account, there are a number of stages and permutations in how we do this. Full details are contained in the information sheet and in the agreement. We will provide this information to you if you are successful in your application.
We do have a right to vary the terms of the agreement, including interest rates, the payment due date and the way the minimum payment is calculated. We will give you advance notice of any change which isn’t to your benefit, so you can pay off the balance before it takes effect if you are unhappy.
We may put your statements and any other notices that we wish to send to you, or are required by law to send to you, such as notice of sums in arrears and notice of default sum, in Transaction History of My Account on our website (or such other secure electronic location as we may notify to you). We will send you an e-mail to let you know when we do this. You agree that you consent to receive statements and notices in this way. Statements and notices will remain in My Account for up to 12 months after posting. We recommend that you print off or save a copy and keep it secure.
What to do if you can’t make a payment
It is important you pay each minimum payment when it is due. If you don’t you will incur account charges. Details of these are set out in the information sheet and agreement. We know you don’t expect to miss any payments but sometimes things don’t go to plan, and we don’t want these charges to be a surprise if you do have a problem.
If you do ever think you will have a problem in making payments then please contact our team on 0344 822 8000*. They understand that people can have difficulties from time to time and can help with a plan to deal with them.
It is especially important that you contact us early, as missing payments can have serious consequences, such as the transfer of an account to a debt collection agency or legal proceedings being taken. It may also affect your credit rating and make credit harder to obtain in future.
Changing your mind about your credit agreement
You can decide not to go ahead with the credit application at any time until the agreement is made, and even after the credit agreement has been made you’ll still have time to change your mind and withdraw. You get 14 days to withdraw beginning the day after the agreement is made. We treat the agreement as made when you sign it, or 14 days after you first take delivery of goods you have ordered and asked us to finance , if sooner. If you do decide to change your mind you should tell us as soon as possible by calling us on 0344 822 8000* or writing to Credit Support Team, Sandringham House, Sandringham Avenue, Chelmsford, CM92 1LE, or e-mailing creditagreements@shopdirect.com.
If you do withdraw after the agreement is made you will have to pay back any monies you have borrowed and all interest without delay, (within 30 days of withdrawing at the latest). If you cancel your application or withdraw from the agreement, you’ll have to use other ways to pay for any goods that you have received (such as debit or credit card), unless you still have a legal right to send the goods back. Usually this will only be the case if either they are still covered by a home approval guarantee, or by statutory distance selling rights. You can find Information on these rights in our catalogues or website.
Shop Direct Finance Company Limited is a member of The Finance & Leasing Association (FLA), and subscribes to The FLA Lending Code. For more information on the Lending Code please visit www.fla.org.uk.
Shop Direct Finance Company Limited. Registered number 4660974. Registered office: Aintree Innovation Centre, Park Lane, Netherton, Bootle, L30 1SL. Authorised and regulated by the Financial Conduct Authority.
