Amazon offering payments on the never-never
Amazon are amping up the pressure on rival retailers, by offering a service where you can 'pay monthly' with them. Sounds like trouble to us, as paying for stuff on the never-never can get consumers in all kinds of bother, but if you're good with these sort of finances, it could be just the thing for you!
Anyway, if you're spending £400 in one go, on one item or a load of different things, you can apply to pay them off over four years, without a deposit.
It is called Amazon Pay Monthly, and it'll launch this month, and will charge you 16.9% interest.
Amazon have joined forces with finance company Hitachi Capital, which competes with similar credit options which exist on the high street.
A Hitachi spokesperson said: “It means you can go straight from choosing a new dishwasher or fridge to accessing finance options through us, all while staying on the Amazon site.”
Basically, you can do your shopping on Amazon as normal, and when you get to the checkout, you'll be offered Pay Monthly. Of course, they'll have to run a credit check on you, and if you're approved, you're good to go.
Interestingly, Britain is the first area that this has been offered to by Amazon.