Offers galore! (Argos Card)

Member Name: teagirl

Product:	Argos Card
Date:	07/09/04 (2522 review reads)
Rating:

Advantages: Vouchers, Premier Points, Interest free

Disadvantages: Interest charges

I have read a few other reviews on this card, some pointing out the dangers of store-card borrowing. I totally agree that it's not always the best way to borrow. With a higher interest rate than many credit cards, this can be an expensive way to borrow. However, the interest rates involved are clearly marked on the the credit agreement you sign when you take out your card. You should always keep check of your balance and the relevant rates.

Now for my Argos card rundown...

Why?
I took out my Argos card about 10 months ago when they had Dyson vacuum cleaners on offer. I was looking to spend about £200 and was tempted to take out the Argos card because of the 6 months interest free credit. The offer was that if you spent £195 or more then you received the free credit. I was able to spread my hoover payments to manageable chunks of £33-34 per month with no interest charges and I got a £15 voucher to spend as soon as I bought the vacuum.

How?
1. Any till operator can help you apply for a card and it only takes about 10 minutes. The assistant takes you through a 1-sided form with simple details about name, address, employment status and your bank details. You choose from 3 styles of card (plain, ducky or one with dolphins) and say whether you want to pay by direct debit or monthly statement. I would suggest receiving statements because otherwise they'll just take the minimum payment of 5% of any outstanding balance (meaning you may incur unecessary interest.) To manage your own account properly I always advise getting a statement so that you check why they've charged you and to ensure they've received previous payments.

2. You can pay for things as soon as you take out your card, i.e. I said I wanted to buy the Dyson but rather than pay for it I put it straight on the Argos account. I received the card through the post about 2 weeks later.

Offers
1. As well as the interest free periods (t
here's a range advertised in the Argos catalogue and in-store leaflets) I've benefitted from the following offers from my Argos card:-

+ A £5 off £50 voucher as soon as I received my card.
+ £5 off £50, £3 off £30 vouchers.
+ Reductions off my purchases because of earning Premier Points on my Argos purchases.

2. I've also had other offer leaflets, such as discounts at Homebase and reductions on RAC membership although I've not taken these offers up. These offers come with my monthly statements and I've used quite a lot of them considering I've not had the card too long.

3. As an example, two weeks ago I put two offers together (voucher and Premier points) and bought a £40 item for £27.00.

Interest payments/charges/problems?
1. I am always wary of taking up interest free credit, mainly because I worry that I'll forget when the 6 mo nths are up and end up being charges. However, about a month before my interest free ended, I received a letter from Argos letting me know exactly how much I needed to pay by the final date shown on the letter. This enabled me to take full advantage of the interest free offer.

2. The only problem I've had is that where I was taking advantage of two offers simultaneously, my statement didn't show that I was on an interest free plan and my statement therefore showed interest charges. I simply rang up Argos Card Services and told them and the interest was deducted immediately. This is why it's important to keep track of payments and offers taken up.

All in all I really like my Argos card. It's very useful when buying expensive items for the house but as I said at the beginning, you should always be careful of the interest rates and remember, it's not free money, so....happy sensible shopping!

Summary: