Buckscoop > Deals > Computers & Electronics > 30 months interest free credit on purchases @ Harvey Norman (Pay January 2010!)

30 months interest free credit on purchases @ Harvey Norman (Pay January 2010!)

Posted By: jayne, posted 2007/07/26 10:21
Sorry for the long post, but I can offer some opinions on this, so I'll pop them in here.

This is a good offer if you were needing some new appliances, but wanted to take advantage of store credit, instead of forking out your hard earned cash. Harvey Norman are offering a 30 months interest free credit period, with no deposit. You have to pay monthly replayments, but that would depend on the size of your purchase.

I'll not type all the T&Cs in here, feel free to read them on the website itself. E.g. Minimum financed amounts of $750 on GO MasterCard, and $1200 on GE CreditLine apply.

Here's the catch - they set up a minimum monthly payment, which when taken over the 30 months, will not cover the full credit amount. You just have to be careful to pay the balance before the end of the 30 months, and there will be no interest charged.

I used to work in an electrical retail store which did similar offers from time to time, and so many people were caught out because they forgot to pay off their balance within the interest free period.

SO - all in all, this can be a very good offer - just be sure you pay it off in time!!
49°-+
  • jayne2007/07/27 01:26:35
    http://img523.imageshack.us/img523/4183/30ja8ch7.jpg
  • admin2007/07/27 17:56:09
    I'm always wary about these. Guess they're working on the lowest common denominator principle. Be interesting to see the stats on how many people forget to pay the balance.

    If you do forget, what interest are you charged? On the remainder ? Or retrospectively?
  • nod2007/07/27 19:03:55
    "*1 Conditions of 30 Months Interest Free Offer: Available to approved customers on single or multiple transactions on GO MasterCard and GE CreditLine between 21/07/07 and 12/08/07. Minimum financed amounts of $750 on GO MasterCard, and $1200 on GE CreditLine apply. Offer available on purchases from Harvey Norman franchisees. Minimum monthly repayments must be made during the interest free period, and interest and repayments are payable after the interest free period. Paying only the minimum monthly repayment will not pay out the loan before the end of the interest free period. Offer available on advertised or ticketed price. This notice is given under each of the GO MasterCard and GE CreditLine Conditions of Use (as applicable) which specify all other conditions for this offer. Establishment fee (on new accounts only), account service fee (currently $2.95 per month) and other fees and charges are payable. For GO MasterCard, credit is provided by GE Capital Finance Australia (ABN 42 008 583 588) and for GE CreditLine, credit is provided by GE Finance Australasia Pty Ltd (ABN 88 000 015 485) both trading as GE Money."

    Here is a bit more of the deal


    This is very interesting : "Establishment fee (on new accounts only), account service fee (currently $2.95 per month) and other fees and charges are payable"

    I wonder how much they charge for that.
    I think you do need to be very careful with the interest free offers as they are not a freebie... just a different way to make more money on the item
  • jayne2007/07/27 20:04:54
    admin;10382
    If you do forget, what interest are you charged? On the remainder ? Or retrospectively?


    Usually retrospectively. Which obviously can be bad if you forget. But I'm saying you can get the 30 months interest free, and use it to your advantage. Just make sure you pay it off in time.
  • nod2007/07/27 21:13:46
    If you did organise your budget then it would be good so long as the monthly and establishment fees are not too steep
  • narut2007/07/27 22:18:08
    And it only apply to a ticketed price: no price match
  • nod2007/07/27 22:36:38
    Would be great if you could get a good bargain and use this to pay it off
  • Netjock2007/07/27 23:55:54
    Used to work for GE... no good staff deal though but did find a few gems (ie. a shell mastercard that would give 1% rebate in petrol for $45 a year until they phased it out).

    Establishment fee for the GE creditline is $65 I think. Service fee was something that came later (yes there was a time when there was no monthly service fee).

    Go Mastercard as far as I know has no annual or monthly fees but you have to check (or go to the website).
  • nod2007/07/28 02:03:30
    Thanks for the extra info Netjock
    The mastercard sounds like a pretty good deal.
    Would be good to find out if there is a difference with the fees
  • narut2007/07/28 10:26:36
    "There is no annual fee for your GO MasterCard (a one off establishment fee of $25 applies)"

You don't need an account to leave a comment. Just enter your email address. We'll keep it private. :)




Signup/Login

Close

Subscribe

Close

Comment Preview