PC World and Currys can't offer credit to customers - statement

26 April 2010

This morning we told you that all DSGi stores - including PC World and Currys - are unable to offer credit to customers, from the end of today and for up to the next six weeks. That means no payment plans will be available on any products, and all sales much be completed at the till, on the day.

We requested a statement from DSGi on our story, which we received this afternoon:

Our business and our Transformation programme is driven by our customers and their needs. We are constantly reviewing the value to our customers of all of our products and services through feedback and extensive research.

As a part of this ongoing process, we are moving to a new credit provider, with better and more flexible finance options for customers going forward.

DSGi also responded to comments from ourselves and readers regarding what impact the lack of credit facilities is likely to have on their business:

In-store consumer credit is taken up by a relatively small number of customers. After a trial we ran in recent weeks in selected stores, we know that of these, many customers opt to pay by different means. We therefore saw little or no impact on sales.

Is DSGi honestly saying that being unable to offer payment plans to customers for the next six weeks will not affect sales in any way? That customers who can only afford to pay for new goods by monthly installment will wait until June, rather than walk next door to Comet or John Lewis?

TOPICS:   High Street News


  • spunky
    hi am looking to buy a TV, blu ray, home cinema, cables, expensive 5 year warranty, do you offer any kind of buy now pay later type of scheme? no interest free credit? no so what payment options do you have? pay as you exit? whats that? you pay everything now, no interest but 1 big lump sum. BYE!
  • Dave
    @spunky Guess you should learn to live within your means then :P
  • spunky
    i was doing an impression of a poor person. or someone who shops at DSGi not online. cos everyone knows its cheaper online
  • me
    online? whats that? i thought pc world were very cheap...
  • buymorebod
  • paynowbuylater
    still offering smartplan leasing for term payment and mobile broadband for free laptops with broadband which is really another way of financing surely as it costs more than a stand alone broadband connection? just a thought ;)
  • hmmm
    is this all you guys do bitch about dsgi ? who cares, let em get on with it i got better things to worry about rather than where can i buy my t.v cheap
  • Bob
    HFC (the current finance guys) removed a lot of kick backs and pushed the decline rate up to high (the interest was also a bit on the high side, but I doubt DSGi cares about that. New company comes along offering more £, less declines (so more £ in the till) and a lower APR to attract customers - obviously they are going to say yes.
  • tin
    Would you REALLY just stop giving credit completely while you sort out your new arrangements, or arrange a smooth handover date? Some brinkmanship going on I say.
  • Tom H.
    As an employee to DSGi in a PCWorld outlet let me shed some light... From what we have heard DSGi have signed a new contract with Barclays who will offer a lower rate of interest and more payment options to our store customers. What these methods are will remain unknown until Barclays come into play in 6 weeks down the line. The reason for the gap in finance during the transition is HFC's overall thoughts on the matter. Eclipse, our instore terminal system where we process customer orders will disallow us to process any new transactions for finance as of this weekend due to HFC pulling the plug as a result of hearing about the new contract with Barclays. Furthermore, as we have been told HFC are pulling out of consumer finance entirley due to DSGi brining in the most finance deals... This is not to say that existing customers will lose their payment plans entirley and be required to pay in one go, as its far from it... HFC, under contract are to keep all existing customers for the duration of their plans. We have been informed that the 6 week process is whilst Eclipse and the Barclays Network are equipped to talk to one another so that we can process credit checks and credit agreements within store, like we have been able to do previously under HFC. We are being told to inform customers to purchase their new goods, be it a TV, Blueray or top of the range machine on a Credit Card where possible and should you wish to take out a credit agreement we are asking customers to retain receipts and return in 6 weeks for a full refund and we will start a credit agreement on that date for the price of their purchased goods. (What date is currently unknown and don't quote me on this offer as it comes from our instore managers.) Hope this helps you understand why we can't offer you finance at this time. And yes, DSGi HQ - I have used a fake name in this instance. ;)
  • John b.
    Tom, Im going to boot your balls if I find you.
  • spunky
    so in a nutshell tom, its "if you ain't got the full amount in your bank now, pay on your credit card and incur any interest that you may have on your card, or get yourself a loan, cos we want it all now" so if you havent got the lump sum right now, but you can afford the monthly payments, unless you want a 24month mobile broadband laptop agreement, sod off. unless you go to Comet, John Lewis, Best Buy and the other electrical shops which didnt use HFC and will be more than willing to take the custom.
  • hmmm
    haha, that sounds very professional for a chairman John... I'm sure you've got more important things to do with your time than chase people down.... That is, should you actually be who you say you are :P
  • Tom H.
    We still have SmartPlan I believe, although that exists for our business-business customers.. But, theres not alot we can recommend to customers at this time... its unfortunate that HFC decided to pull the plug before Barclays have even stepped in. Its not very sensible. What would you do in this situation as an employee when they ask if they can pay monthly... People who were considering purchasing by Simply 10, 48 Month plan or otherwise were informed by all of our store employees that we were switching Finance providers and that our last day was Sunday until 6 weeks down the line... this encouraged them to purchase - it wasn't in anyway forced, but some customers like to think about things lots and lots even when there certain they want to purchase the item. Those who continued to say we will think about it didn't purchase and understandably will purchase elsewhere..
  • abdullah
    THis is great you know first the suppliers wont give credit to dsgi and now hfc are pulling out its blessings are to do with Peter Keenan who now works for HSBC. he hates DSGI and have made them pull out of DSGI totally vengence is sweeet people.DSGI will melt down now and no credit will provide Best BUy with market share great stuff go to john lewis comet best buy argos etc they all do credit or credit cards plans only DSGI have FUCK ALL TO OFFFER AND WILL NOT OFFER ANY FINANCE AT ALL THEY SAY SIX WEEKS IT WILL BE NEVER AND thier staff are fradulent bastards.
  • buymorebod
    @ Abdullah. What a brilliantly worded argument. Such clarity of view, eloquently formulated, taking into account balanced research and insider knowledge. Unfortunately, you have rather let the side down with ill formed sentences, poor grammer and punctuation and atrocious spelling.
  • Richard
    @buymorebod fucking 'A' man! +1
  • twat
    grammer? should be 'grammar'
  • Mobile G.
    You are correct, twat.
  • steve j.
    Wait till BESTBUYS open in UK , places like DGI and Comet wont know whats hit them, they have been rripping UK custonmers off for years .
  • ilovedsgi
    i believe you are all sad bastards who waste their time slagging of dsgi because they are changing for the better do us all a favour fuck off and buy online and stop wasting staff time by coming instore many thanks
  • twat
    steve who are bestbuys? and further more, who are DGI? and if you honestly think Best Buy will be any different, you're more of an idiot than the rest. they're just the USA version of Currys and Comet. same sorta staff, same prices, same target driven sales staff trying to sell you warranties and Norton
  • Zombini
    Take it on credit card and refund later? That seems dodgy as hell. For a start, they're just taking your word for this - it's entirely possible to turn around and deny ever having said that, leaving them with an item on CC they can't afford. There's certainly no legal obligation to refund used goods. And what if they get turned down for credit?
  • dunfyboy
    "DSGi" and "lower rate of interest" in one sentence. Now I know this is just made up.
  • Bob
    Lower APR attracts more customers - DSGi wont see a penny of the interest so what do they care? It's the kickbacks they enjoy - and inherently the new acceptance vs kickback ratio works out better than the old one thus the switch. I fail to see the hype around Best Buy, though - it's just another electrical retailer. They still wont offer internet prices as they'll have store overheads, and they'll still push the expensive add-ons for profit - they are a business, not a charity...
  • meek
    DSGI head office statement translated. Hi there, what brings you to DSGI today. are you one of our Whatever Happens customers? (yes every employee has to say this we cannot just say hi) We wanted to secretly change supplier of credit so we earn more from each credit sale. before we could implement anything.. HFC found out.. grrrr and gave us just 24 hours notice to stop offering their credit. We have always tried talking customers into mobile broadband offers of atleast £25 a month instead of mentioning HFC so it has not affected many customers because we never use to tell customers we had a cheaper way to spread the costs. but, because we have sacked the original programmers of eclipse we have to spend out extra cash to contract in new programmers to make any new finance system work with us. We advertise we sell great technology, and have fully trained engineers who can fix issues next business day, BUT it will take atleast 4-6 weeks to add a button that says pay by finance to our own tills. We thank you for visiting DSGI. have a nice day (in a american accent)
  • response t.
    In response to "twat" who commented about best buy "...same sorta staff, same prices, same target driven sales staff trying to sell you warranties and Norton..." 1. Their prices are lower at the moment while they try to break into the UK market 2. Their sales staff aren't on targets 3. They won't be selling Norton as Norton are on an exclusive deal with Dsgi @ the moment. Kinda need to get your facts straightened up my son.
  • twat
    BULLSHIT! Introductory prices may be lower as they only have ONE store at the moment. they will level out as soon as the rest of the stores open. the sales staff ARE on targets. just no commission based ones. they will have a daily, weekly and monthly sales figure they are expected to hit and a certain amount of it will be made up of services, warranties etc, as this is how ALL electronics stores operates, whether its Best Buy, Currys or carphone warehouse. its a sales model used very very very often. Norton do not have an exclusive deal with DSGI, except on their 360 Gold product. every other retailer sells the same standard v4. of 360 along with the other Norton products. if Best Buy are choosing not to stock one of the worlds leading internet security software's they are total lunatics. Norton 360 v4 is available from Tesco, Comet and tons of other retailers, DSGI only have the gold version. your facts arent facts
  • Laughed Y.
    Nice thread, some valid points and some very stupid ones too. Abdullah.... COCK Twat..... Great name, BB not targeted the same! ilovedsgi...........Well said steve j ....... If your going to slag any one off at least get the names right.
  • Anon
    For a starters, DSGi offer 2 finance like options in all PC World stores, and 1 Option in all Currys outlets. Please dont forget that if you are buying a laptop you have the choice to go with mobile broadband. Where you pay x amount and get a laptop for free or at a dramatic discount. For business customers, or tech savy customers in pc world stores their is a rental scheme called smartplan, run buy the austrailian firm rentsmart. DSGi is still in an excellent position to engage the customer with a wide variety of deals and solutions availible. Keep up the good work bitterwallet, by doing no research into your "news" stories
  • spunki
    best buy are absolutely targeted the same, a friend of mine is working in their management training course.
  • lisa
    i was just at pc world and a member of staff told me the reason they cannot give me a pc is on finance is because the finance comapany have pulled out they do nto want to sponser pc world/currys/dixons anymore so its just lies saying theyve chose another company noone would loose the risk of loosing money in the recession by waiting 6 weeks to go to the new company
  • rob
    Have any of Bitterwallet's writers ever worked for a chain electronics store? Newsflash - they all have targets. They all need to sell attachments to make money. Selling a laptop 'naked' has single-digit margin on it most of the time, it's not uncommon for us make >5% margin on advertised laptops. Best Buy won't be any different, why are you wetting yourselves with joy at their arrival?
  • antony
    I work for comet & we all on targets but no commission. I think we electrical retailers get an hard time with the general public. We are on our feet 9 hours aday, taking crap of customers. I am sure every retailer as employees who gives a bad name but i work on honesty & know alot of my fellow staff members are honest. Alot of customers don't realise that we don't make alot of money on products & 5% is right on the laptops. We spend alot of money on after sales & we have a fantastic service. We sometimes encounter problems just like everyone else but you striath to do more for the customer. I wouldlike to say as a customers point of view give alot more respect to sales staff. It's not right presuming we all nasty people. We sometimes go out of our way after work to deliver,connect,advise, or sort out a problems for customers. I hate going into a store myself as i know & embarrassed for the staff of what the customers are calling them behind their back. Us retailers have contributed to the problem of customers demanding money off everything they want to buy. We should've stand firm & this problem wouldn't of been such an issue. You don't go to asda & get to the till, then say how much can you knock off! I respect the customers of what they want & what they don't want.
  • Yee
    HFC are shit. Glad they're leaving retail. During this six week period they actually have two credit options still, not that many customers even go for credit. The average sale from you clueless inbred's is £400-£500, which you can just about afford after a couple months of saving your jobseekers. They have SmartPlan which is a lease purchase primarily for the B2B arm and also Get Connected which gives you free or discounted laptops for signing up with a mobile network for mobile internet.
  • yourmum
    i walked into a currys the other day and got in to talks about credit after i said im paying cash. we then got talking and was told BECAUSE you cant go from one credit provider to another in the space of a day. they need to take off all the software for hfc from every terminal across dsgi, then have to test trial the new credit providers software and then set it up in every store and not forgetting training to every staff member. i mean you dont want to get credit then have it mess up and you get declined. so big deal it will take time. save the money so you can put more depostit down. and comet and john lewes are crap!!! and more expensive! at least currys are cheapper even if its 10p and best buy what a joke?!!!! have you ever been to a store? worse customer experiance ever!!! one of their staff i actually heard her call a customer a f$£%&g stupid n!""a and the manager just laughed. not naming any best buy store.... near london.
  • In K.
    Cancellation of HFC consumer credit was a decision made by HFC as a global decision to pull out of consumer credit. Nothing to do with Barclays or DGSi trying to extract a larger kick-back. The lack of credit , with the exception of SmartPlan, is down to DSGi firstly having to find a new funder, and they take their time rather than just jumping into bed with the first firm to say yes. Once the funder has been found, Eclipse has to be configured to operate with the new, web based proposition. End o' story. The initial credit trial, which I had visibility of, affected DGSi primarily on higher ticker items, TV's etc, however was not catastrophic. The decision, off the back of this trial, to provide a new credit provider was in recognition of the customers' desire to have a finance option. HFC was costing DGSi money and ideally they would not offer any kind of consumer finance as it is not profitable; the profit made on one hand is absorbed by the cost of bad debt on the other. On the subject of Best Buy - their strategy is well know and well publicised. They move in, undercut the competition for as long as they need to, to put them out of business. Then hike their prices, pretty much as much as they like as there is no competition. Good for the customer?!
  • toldyaso
    Told ya so......... all you doubters out there PC World and Currys now got finance back, buy now pay later and other options availabe in all stores now.............................
  • Scoggs
    Will they be offering this online soon also?
  • James T.
    Whether you are a small business owner or a consumer...pay CASH! If you can't afford to pay cash, then take out a small business/personal bank loan. With cash or a bank loan you OWN the PC or equipment either upfront (cash) or at the end of the term (bank loan). DO NOT take out any other form of credit such as a rental or credit card. With SmartPlan's rental, you NEVER own the PC or equipment...unless SmartPlan sell it to you at the end of the contract for as much as possible - this after all is one of the ways SmartPlan make their additional profits! With credit card, although you do own the PC or equipment at the end of the payment term, the interest rates are far too high and this facility should be used for emergency finance only! By the way, SmartPlan charge higher rates than credit cards! Don't believe me? Work it out: the monthly payment (say £30) x the term (say 36 months) £30 x 48 = .... vs. the cash equivilent! It's a RIP OFF! I have always found that the managment and staff at PC World and Currys to be fine. It's up to the customer to make their own enquries and be informed...don't blame anyone else for your mistakes!
  • comrade
    when will finance be offered online?
  • 6thsense
    Its now coming to the end of August - still NO SIGN of finance options (Simply ten etc) online for any of the stores PC World, Currys. Six weeks has been quoted from the beginning as to when the finance options would return. What's going on? Will online finance options NEVER return???
  • tim w.
    I walked out of both a curries and PC world today after I called last week and asked an assistant if credit was available , he said it was and all I would need was some proof of id , my debit card and a recent bill. After getting these items , I call a week later and am told today that credit is available at curries but with a 19% APR !!! I actually laughed at this advised the assistant that theres no reason for me to buy in store at the inflated prices with the added APR , I will be buying online at discount prices , so I'll have to pay it all upfront but at a discounted rate ... what a time to remove interest free credit ... the worst recession in recent history .. it beggars belief if the CO's of these companies think it wont affect sales ... I can tell them for sure that because of this 400 quid of my hard earned will be going to another company ... :)
  • K.Kroon
    Hey Comet is the same company as Currys gyus!
  • K.Kroon
    Guy's sorry my mistake haha.Yeah I was looking for interest free credit as well you know Comet is even worse,24% so you buy for £500 and pay back over £700!Its a joke I will use credit card and some discount code and buy it much cheaper!Bye Comet!
  • Mark c.
    When will people wake up and realise that it is not a devine right to be offered credit or finance . That said I have dealt with Dixons personally before and for years they have offered credit products that make them money or at worst are cost neutral (so still cheaper for them than a card transaction) . HFC have no doubt been carrying their account and making little from it purely to keep the mighty Dixons happy. Their parent compnay step in and instist they make a fair buck from DSGi and hey ho off they go. In steps barclays to be had over a barrel, I'd suggest the finance companies make a pact and agree on rates they won't drop below. Contrary to what DSGi may suggest - they DO need finance.
  • Dee
    It's Dec 31 2010 and still no sign of finance online at pc world / currys :(
  • shinkyshonky
    Fuck the credit...get out on the piss ...its new years eve...the ads will popping up toorrow from the leccy retailers
  • Bryan
    This is to K.Kroon, get your facts wright before posting you douchebag, Comet is part of Kesa and has nowt to do with DSGi what so ever. Pow right in the kisser.
  • youarealldickheads
    All of you need to shut the fuck up! I actually wanted to read some informative comments about this article and all there is, is all your complete, nonsensical arse-gravy! Seriously, go and find more interesting lives! Why don't you all meet up and call yourselves the bug-fucker's association or limp noodle's 'R' us. Go and die, thank you.
  • Jonny b.
    I think that my fucking head is made from fucking burgers and the seeds on the top of this said fucking burger are my hair! I also love to buy stuff from shops, fuck! Who are we anyway mr world? Mr pc fucking world? Who the cunt are you and your fucking shit. Maybe if we all spoke to the man made out of horses ears he would lend us some laptops from his fucking shed yes?!!!
  • daniel f.
    pay monthly
  • Buy U.
    Terrific paintings! That is the kind of information that are meant to be shared around the web. Disgrace on Google for not positioning this put up higher! Come on over and discuss with my web site . Thanks =)
  • james b.
    first of all i'm fucking angry because my couzing johnny is dead. mr world ruined my life. mr pc fucking world. maybe if we all stopped for one second and stared into the abyss we would realize ITS OK! JESUS FUCKING LOVES US! DSGIjesus the god aka. Sebastian James. I heard he has a head shaped exactly like a leek mixed with half a watermelon. sounds fucig delicious. sometimes i pick at my sesame seed hair and eat it. DONT JUDGE ME!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

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