So i have a your plan account with currys with a £300 limit. I purchased a monitor (£159) that 6 months later ended up having a power fault. I then returned the item to currys to which i got a refund to my credit account. I had already paid off the monitor including 29.9% interest (£206 total) creation finance, the holder off the credit account, told me they can only refund me the £159 and not the interest so i am £47 down. Anyone know if they are allowed to keep the interest after full refund?
Creation Finance
- Thread starter Mr Mcgoo
- Start date
Guessing you guys are right. I brought it as i needed a replacement at the time and have purchased from currys many a time. Just a shame that creation finance stats they will give a full refund upon an item being returned to currys but say nothing in regards to the interest. Oh well. Lesson learnt. Also 29.9% is typical of most store cards, store credit account and credit cards. Besides i thankfully only use it in emergencies for the likes of appliances for if they die on me and need replacing. Just lucky they had a some what decent monitor that sold out very soon after due to it being popular. would have got a replacement if i could.
well it turns out that creation made a mistake during my plan. After i called them to find out what was going on they informed me i did in fact pay 7.495% interest. the 29.9% is over a 24 month period. 14.95% over 12 months and 7.495% over 6 months. Why this was not informed to me is odd but also turns out they do in fact refund the interest. i got that refund including interest in my bank today. So i politely asked if they could amend the website as this is not made clear and would likely increase customers to use your service knowing early repayment reduces interest paid.