Argos Card review 2023
- Representative example:
- When you spend £1,200 at a purchase rate of 34.9% (variable) p.a., your representative rate is 34.9% APR (variable).
- Account fee
- £0
- Interest-free each billing period
- Up to 56 days
Our verdict
The Argos Card offers 2 BNPL-style interest-free repayment plans - but there are high rates if you end up with a balance on your card.Argos used to offer its own buy now, pay later (BNPL) payment option at the checkout, but it seems to have dropped this in favour of revamping its credit card. The card offers 0% interest on purchases only at Argos, Habitat or Sainsbury’s for either 3 or 12 months. This card is exclusively for your Sainsbury’s Group shopping as it's not on the Mastercard or Visa networks.
The length of this 0% period depends on how much you spend. When you spend over £50, you can take up to 3 months to repay, and for purchases over £199, you’ll have the option of a 12 month interest-free repayment plan.
The key difference between the Argos card and other 0% purchase cards is that you can use these repayment plans as often as you like - similar to BNPL products. As with all credit, it’s important to keep up with your repayments as missed payments can harm your credit score and you’ll be charged interest once the interest-free period has ended as well as a £12 late payment fee.
Unlike other cards offering a 0% purchase period, you’ll only gain access to the repayment options when you spend with stores in the Sainsbury’s Group. So unless you’re an Argos, Habitat or a Sainsbury’s big spender, you might be better off getting a 0% purchase card where you can rake in the benefits of a 0% purchase period anywhere.
Pros
- No annual fee
Cons
- A relatively high interest rate on purchases
- Applicants with low credit scores are unlikely to be eligible
Details
Product overview
| Issuer | NewDay Ltd |
| Annual/monthly fees | £0 |
| Representative APR | 34.9% |
| Introductory Rewards | Discount vouchers sent out with new card. |
| Additional Rewards Info | Variety of Buy Now Pay Later option plans and interest free credit plans are available; based on basket spend and individual goods. |
| Minimum credit limit | £0 |
| Maximum credit limit | Subject to status |
| Credit limit note | Variable |
| Purchases interest-free period (days) | 56 |
| Overall customer rating | Not yet rated |
Fees and charges
| Minimum monthly payment | 1% or £5 (whichever is greater) |
| Annual/monthly fees | £0 |
| Cash advance fee | 0% |
| Late payment fee | £12 |
| Duplicate statement fee | £5 |
| Exceeding limit fee | £12 |
| Additional card fee | £0 |
| Dormancy fee | £0 |
Application requirements
| Minimum Age | 18 |
| Availability | Available to new customers |
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Repayment options
When it comes to repayments, you can make manual repayments online or over the phone (03456 400700), or alternatively set up a direct debit. A direct debit is a great idea because it protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee or losing any promotional rates as a result. You can arrange a direct debit for repayments when you apply for the credit card. The table below shows the options available.
Choose from the following direct debit options for your monthly repayments:
| Minimum amount | Fixed amount | Fixed percentage | Full amount |
|---|---|---|---|
How to apply for an Argos Card
If you've compared options and decided this is the right card for you, you can apply both online and in-store.
You'll need the following:
- Your ID and proof of address
- Your address history of the last two years
- Your bank details
As with any other credit card, Argos will run credit checks before lending you money.
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