Store finance is a common way to pay for things in instalments.
Also called ‘buy now pay later’ credit.
Popular providers include:
Many high street stores and online retailers offer interest-free credit.
- This is often interest free (0% APR) for a fixed time
- This means you do not pay interest if you pay it back in time
Store finance is regulated by the Consumer Credit Act.
Most agreements are a type of unsecured personal loan. This means:
- You are the legal owner of the goods straight away
- The store cannot take goods back if you miss payments
Before taking out store finance credit:
- Work out if you can repay the debt during the interest-free period
- Check the terms and conditions for any early repayment charges
- Make sure you can afford the interest if you cannot pay back the loan in the interest free period
Store cards and persistent debt
You may get a letter about 'persistent debt' if you only make minimum payments.
They may ask you to increase your monthly payment.
Find out more about persistent debt.
We can help deal with persistent debt
Call us on 0300 303 2517, Monday – Friday 9am - 5pm.