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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

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Original poster

To feel like I am being punised for managing our finances well

22 replies

annielouisa · 31/08/2015 15:23

Both DH and I had previous spendthrift partners who left us with big debt and we worked hard to clear it all. We save for holidays and Christmas, need to with all our DGC. I have used the Very catalogue for years even before it was Very and was called Additions. My account is usually clear and I have used the Buy now Pay later offer many times and always paid it off promptly.

My DH was 60 earlier this year and a bought a break away as a present. We are due to go mid September we decided to buy a good camera, well good for us but I wanted to order it from Very. The order appeared to go through on the Buy now Pay later. I had no indication it had been declined until I checked it progress to be told order declined.

I was confused as my account was totally clear and I had emails encouraging me to purchase. I phoned only to be told they had removed the facility from me. I explained my long purchase history showed how well I managed my account. I because they can see I pay it off in the allotted time they will never make any extra dosh by me defaulting.

I tried tweeting for a clear explanation but got some annoyingly stock answers about the status of my account which makes it sound like the account is poorly managed so I decided to ask Mumsnet AIBU to to be a good payer and manage my finances well? Should these credit facilities only be offered to folks they think they can make a bit of money out off!!

OP posts:

Flossyfloof · 31/08/2015 15:27

I suppose it costs them money to extend you this constant credit for which they get nothing in interest,
Get your husband to open an account and try buying it again. I think you might be a bit U for buying stuff from Very, I think it is an expensive way of doing it.

Goshthatsspicy · 31/08/2015 15:29

I've heard of lots of companies doing this, so I doubt you have done anything wrong.

I remember (years ago) I had a littlewoods account. I wanted to buy some bedroom furniture , over a set period of time.

I was declined. I think my account became almost redundant. I hadn't done anything wrong. Always paid things in full, sometimes spread the cost.

it is annoying isnt it.

Original poster

annielouisa · 31/08/2015 15:33

Flossy I do not do very often (no pun intended) but I cannot justify the camera out of the household budget. We probably would have put money by each month had I not realised how much my DH wanted a decent camera for our trip away.

OP posts:

ChickenTikkaMassala · 31/08/2015 15:34

I buy a few things from Very and I always pay it off using the Take 3 option so I've never paid any interest, you've not done anything wrong OP. My account is currently paid off so hopefully they won't decline me in future.

Original poster

annielouisa · 31/08/2015 15:45

I could probably get in the take 3 option but that would be over ?100 each month and my DH is basically a luxury item so he will just have to save.

I was just upset as we do not have may treats but also because they deigned not to inform by email but just let me discover it had been turned down when I checked my account to track the delivery

OP posts:

wickedwaterwitch · 31/08/2015 15:46

I'd check your credit files IIWY - maybe there's something there they can see that you don't know about?

Any company can decide not to extend credit, they don't have to give you a reason. It does seem strange though. I'd check my file and then buy elsewhere.

LumpySpaceCow · 31/08/2015 16:00

As pp said, check your credit report, experian offer a free trial.
If everything is OK I would actually get a 0% on purchases credit card as you will get a better deal on the camera from somewhere else. As you're good with money you would soon pay it off and then you can cut it up if you wish.

EngTech · 31/08/2015 16:07

I used to pay cash for everything - Days before cards etc took off

Had trouble getting a loan !!!!

Why?

No credit history so got a card, used it mainly for buying petrol, paid it off each month - Result - Good credit score but they hate me as I pay it back in full every month :)

I think you have to show you can pay it back which is why I keep getting offers to extend my credit limit !!!!!!!!!!!!!

Original poster

annielouisa · 31/08/2015 16:19

I have checked my credit score with equifax and its excellent and there are no issues attached to myself or DH.

I suppose what I see as being a good customer and paying promptly is not want people like Very want and they offer credit to people hoping they will pay but not before they have defaulted enough to earn them their interest.

I am not going to change though I am really proud of how DH and I cleared our debts and pay our and do not want to go back to the days of dreading the post or screening phone calls and robbing Peter to pay Paul.

I will say to people battling with debt try and face it head on and negoiate with your creditors as when I and DH began to work to clear things it lifted such a weight from us.

OP posts:

Original poster

annielouisa · 31/08/2015 16:21

EngTech I think my paying back in the alloted time has partly led to this issue and the fact I maybe use it 3 times a year and always clear the account so they do not get any interest out of me!

OP posts:

borisgudanov · 31/08/2015 16:38

What is the APR? I just googled Very and saw APRs of 40-50% which is just preposterous for a low-risk customer. If that's the kind of rate they were peddling they've done you a favour: you can easily get a credit card at around 15% or less so tell them to stick it where the sun shineth not.

Original poster

annielouisa · 31/08/2015 16:48

I suppose I never noticed the APR because I always pay off my VERY purchases before I incur any interest charges.

OP posts:

bluesbaby · 31/08/2015 16:53

Wex photographic offer finance on some cameras and you'll probably get a much better price there.

Charlesroi · 31/08/2015 17:28

I reckon it's because they can't make any money off you too. You could try Argos? They have a buy now pay later offer and it might be worth a look.

Then, as a pp said, tell Very to stick their account where the sun don't shine.

TheCatsFlaps · 31/08/2015 17:32

Agree with what Charlesroi said: they will not make any money out of your custom. Fuck them.

Iamnotloobrushphobic · 31/08/2015 17:38

boris The APR might be 40% but the OP pays off her account within the interest free period so doesn't ever pay any interest. With very you can get buy now pay later on larger purchases and it is interest free as long as you pay it off before the BNPL date is up.
I often buy things dying the same scheme and never pay a penny in interest and most things I order from them are either discounted in the sale or I have a discount code which I use (they send them out when the account is clear) so the products usually work out cheaper for me than buying elsewhere.
So not only do I not pay any interest but I also only buy discounted goods from them. No doubt it is a matter of time before they restrict my account in the same way as OPs.
OP - get your husband to open account with verys sister company (can't remember its name) and he can get the camera on BNPL and get a new customer discount.

Original poster

annielouisa · 31/08/2015 17:49

Love the name Iam :) Like you I have been doing the buy now pay later for years and usually with a discount code too making it cheaper than most stores.

I suppose they have caught onto people managing their finaces better but it is a dreadful way to treat a customer

OP posts:

Original poster

annielouisa · 31/08/2015 19:45

I have had a good think about this and think maybe Very has lost a customer for good and I will switch to using Argos, Currys or someone else like that.

OP posts:

EngTech · 31/08/2015 20:46

"EngTech I think my paying back in the alloted time has partly led to this issue and the fact I maybe use it 3 times a year and always clear the account so they do not get any interest out of me!"

Exactly my problem in the past so I used it to my benefit not theirs.

If I know I don't have the funds to pay off in full come month end, then I don't buy it.

What they are after is for you not to pay it back in one go and so incur interest

Original poster

annielouisa · 01/09/2015 19:52

I suppose I am losing for being a good payer but having been in deep debt so I lay awake at night worrying I know which I would prefer.

Maybe companies have got wise to people with good credit using the buy now pay later to benefit themselves and are withdrawing it. I was cross yesterday but now I am just "meh". I think Very was just a habit from the old days and I do not need them anymore

OP posts:

EngTech · 01/09/2015 20:57

Agreed, that is how they make money i.e. those who don't pay on time and they then have you hooked

I prefer NOT being in debt, boring but it works for me :)

Purplepoodle · 01/09/2015 21:15

get an interest free credit card for purchases, buy the camera from the cheapest retailer and use the interest free period to pay it off.

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