Buy Now Pay Later means different things to different companies. To most companies, “Buy Now Pay Later” means you can purchase the item now, from their catalogue or website, and then, when you get your first statement (typically in 28 days), you can either pay in full or being to make monthly payments. There is another Buy Now Pay later option, however. The other option some catalogues have, in addition to the first one, is what’s better known as a Buy Now Pay Nothing plan. This option typically means you order something and pay nothing until a period of time had passed (usually 6 or 12 months). Although not as many catalogues have this option as they do paying over a period of months, starting when your first bill comes in the post, you can find it if you look hard enough
Littlewoods has a very large selection of payment options. Depending on the item you order and how much it costs, you can pay a little bit every week or month for up to 3 years. Or, you can use their Buy Now Pay Later option, which allows to pay nothing up front and nothing at all for 12 months. After then, they will send you a bill for the entire amount. If you still can’t pay the whole thing, they’ll let you take longer to pay – up to four more years, depending on the item you purchased. If you’re on a very tight budget or suddenly lose your job, this can be a real benefit.
Woolworths, which has been around for a very long time, has a Buy Now Pay Later Option in their catalogue, and you don’t necessarily have to open a shopping account with them, either. If you spend a minimum amount (determined by Woolworths) and enter a special code when you order, you won’t have to pay anything for up to 12 months, and you won’t be charged any interest, either. At the end of 12 months, you will be sent a bill for the total amount of your purchase. If you still can’t pay, you can open a Woolworth’s account and spread the cost further, However, should you choose this latter option, you will be charged interest. K & Company also lets you choose this option without having to open an account with them. You can do this with Very (another department store), as well, but you have to open a Very account, first.
Isme is another department store with these options, only they have a few more than the others described here. Like Woolworth’s, you can buy now and pay nothing for up to 12 months and, if at the end of that period you still can’t pay, you can spread the cost even further by opening an Options Account. If you pay before or when the 12 month period is up, it’s interest free. Should you wish to take longer, interest will be charged. What sets Isme apart from the others is that you can choose a lesser option. If you feel like you can pay sooner and don’t spend much, you can pay in 6 or 9 months, instead of 12. However, the longer you choose to wait to pay, the more you have to spend to get that option. This goes for the 12 month option, as well. You can also choose to have a catalogue sent to you by post.