Barclay's financing?

DotCom2

macrumors 601
Original poster
Feb 22, 2009
4,101
2,352
Has anybody used the Barclay's financing on a iMac?
What is the typical monthly payment on over a 2K purchase!
How was your experience with them?
 

BConvery

macrumors regular
Feb 28, 2009
160
1
We used it for a MBP a year ago. Like most of these operations they count on you going longer than the free financing period, in which case you owe interest from the original date of purchase.Or they count on you making a mistake and missing a payment so they can start charging you interest. As long as you're reasonably diligent on making the payments its free money for a year...no reason NOT to do it.
 
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metanoiapi

macrumors member
Oct 16, 2014
50
0
I would consider using PayPal Credit instead. Promo period is half as long as Barclay, but the APR is a bit better. Not much, but better.
 

iubhounds

macrumors regular
Nov 29, 2010
158
6
I used them 4 years ago only because they had a 12 month no interest. I've had no problems with them but have barely used the card since.
 

cd3267

macrumors newbie
Oct 18, 2014
24
0
Got iPad Air 2 and MBA last night in finance. Over the year it's costing me £99 monthly for 12 months and I'm paying £80 interest so that like less than £8 a month.
 

iososx

macrumors 6502a
Aug 23, 2014
859
6
USA
Although it's well known that one pays a premium for anything Apple, going into debt no matter the term is a bad deal.

Time to look at your finances, not sink into debt, you'll be glad you did. It's only a bloody computer. Step back look at the big picture.

Refuse to buy into the hype gushing out of Appleland.
 
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DotCom2

macrumors 601
Original poster
Feb 22, 2009
4,101
2,352
I actually used the financing promo for the iMac 5k. 18 months 0% APR...
Do you know what your monthly payment is going to be?

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Although it's well known that one pays a premium for anything Apple, going into debt no matter the term is a bad deal.

Time to look at your finances, not sink into debt, you'll be glad you did. It's only a bloody computer. Step back look at the big picture.

Refuse to buy into the hype gushing out of Appleland.
I won't be going into debt really.
I am just putting off paying the entire purchase for 18 months.
I have no problem meeting the monthly payments and plan on paying if off in full when the deadline comes.
This is just not a problem for me.
I just want to take advantage of the 0% financing which is exactly what it will end up being for me.

But I do know what you are saying and good advice for others in a different situation.
THANKS

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got ipad air 2 and mba last night in finance. Over the year it's costing me £99 monthly for 12 months and i'm paying £80 interest so that like less than £8 a month.
thanks!
 

bwsteg

macrumors 6502
Sep 25, 2012
388
27
Queens NY
Do you know what your monthly payment is going to be?

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I won't be going into debt really.
I am just putting off paying the entire purchase for 18 months.
I have no problem meeting the monthly payments and plan on paying if off in full when the deadline comes.
This is just not a problem for me.
I just want to take advantage of the 0% financing which is exactly what it will end up being for me.

But I do know what you are saying and good advice for others in a different situation.
THANKS

----------


thanks!
I won't know until I get my first statement. Although I plan on just dividing the total amount by 18 months and making that my payment amount.
 

McGiord

macrumors 601
Oct 5, 2003
4,522
286
Dark Castle
I got one earlier this year for an iMac 27" for the kids. It works fine, and you can get approved make the purchase right away online. If you are disciplined to make all your payments on time, but not making the minimum payment but ensuring you will pay all the balance before the promotion expires.

I think after you use the offer for zero interest you have to call back and make a special request to use the card for a future purchase under similar terms.

Another great option is BestBuy credit if you don't have it it might work better in order to buy no only Apple products but many other things.
 

ddarko

macrumors 6502
May 7, 2007
263
33
Do you know what your monthly payment is going to be?
I used the card deal to finance a $2000 purchase last month. My minimum monthly payment is $20. They aren't exactly pushing me to pay it off the balance before the interest-free period is up. My term is 12 months - I was $4 short of the threshold that would have gotten me 18 months interest free, so dumb of me - so I'm paying $200/month to be sure I pay off the balance before the period is up.
 

DotCom2

macrumors 601
Original poster
Feb 22, 2009
4,101
2,352
I used the card deal to finance a $2000 purchase last month. My minimum monthly payment is $20. They aren't exactly pushing me to pay it off the balance before the interest-free period is up. My term is 12 months - I was $4 short of the threshold that would have gotten me 18 months interest free, so dumb of me - so I'm paying $200/month to be sure I pay off the balance before the period is up.
Good info.
Thank you!

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I got one earlier this year for an iMac 27" for the kids. It works fine, and you can get approved make the purchase right away online. If you are disciplined to make all your payments on time, but not making the minimum payment but ensuring you will pay all the balance before the promotion expires.

I think after you use the offer for zero interest you have to call back and make a special request to use the card for a future purchase under similar terms.

Another great option is BestBuy credit if you don't have it it might work better in order to buy no only Apple products but many other things.
Good idea on the larger payments.
THANKS
 

patricem

macrumors 6502
Nov 18, 2005
448
140
I used it for an ipad3 , I think i financed about $1000, paid it off in full before the 0% interest expired, worked well for me no problems at all. I like interest free financing. Can't remember what my monthly rate was or how many months I had. Divide the total amount you're financing by the amount of months and you'll have what you need to pay.
 

alxhrs

macrumors newbie
Oct 21, 2010
25
6
Portland
I believe its good for your credit score - as long as you keep the line of credit open after paying it off.

I've done the 18 month 0% thing for my last few computers - never had an issue. Sell your old computer, make a few 200 dollar payments and your done.
 

phpmaven

macrumors 68040
Jun 12, 2009
3,375
441
San Clemente, CA USA
We used it for a MBP a year ago. Like most of these operations they count on you going longer than the free financing period, in which case you owe interest from the original date of purchase.Or they count on you making a mistake and missing a payment so they can start charging you interest. As long as you're reasonably diligent on making the payments its free money for a year...no reason NOT to do it.
FYI, they don't just start charging you interest, but it's retroactive. If you screw up on your last payment or don't pay it off in time, you owe all of the interest you would have paid for the whole term at like 22%.

I've done lots of these interest free deals and you just need to set up an automatic payment plan with your bank and make sure you have reminders in place to make sure you know when the last payment is due.
 

DotCom2

macrumors 601
Original poster
Feb 22, 2009
4,101
2,352
FYI, they don't just start charging you interest, but it's retroactive. If you screw up on your last payment or don't pay it off in time, you owe all of the interest you would have paid for the whole term at like 22%.

I've done lots of these interest free deals and you just need to set up an automatic payment plan with your bank and make sure you have reminders in place to make sure you know when the last payment is due.
Thank you.
and yes, I use Quicken and plan to set up auto payments for more than the minimum so that it's paid off on time and in FULL!
It's a good deal if you are disciplined which I am.
 

McGiord

macrumors 601
Oct 5, 2003
4,522
286
Dark Castle
Any suggestion on how to get the zero interest promotion for a new purchase as a currently Barclay credit card customer?
 

mauka

macrumors regular
Nov 24, 2006
107
24
I used a Barclays zero interest promotion for a MacBook Pro 15 Retina when it was first released, paid it off in 12 months, and paid no interest. Didn't use the card for over a year, and they cancelled it on me. When I re-applied they denied my application, and sent me a letter citing a string of reasons.

My credit is fine, I suspect the real reason is they made no interest money off me. So what's the point of this story? I should have used the card for some small stuff after paying the Mac off. Perhaps carried a small balance and paid a few dollars interest and they might not have cancelled me.
 

McGiord

macrumors 601
Oct 5, 2003
4,522
286
Dark Castle
I used a Barclays zero interest promotion for a MacBook Pro 15 Retina when it was first released, paid it off in 12 months, and paid no interest. Didn't use the card for over a year, and they cancelled it on me. When I re-applied they denied my application, and sent me a letter citing a string of reasons.

My credit is fine, I suspect the real reason is they made no interest money off me. So what's the point of this story? I should have used the card for some small stuff after paying the Mac off. Perhaps carried a small balance and paid a few dollars interest and they might not have cancelled me.
Thanks for the tip. I will do buy something then to see what happens. Strange though is that today I was over the phone and the customer advisor told me that it might be better to apply for a new card if I needed to make the purchase today. When I requested to talk to a higher level person obviously the advisor didn't want to do it and refused politely, so I left it as it is now. I will call again and see what happens.
 

McGiord

macrumors 601
Oct 5, 2003
4,522
286
Dark Castle
I was transferred to a Resolution Manager and they gave two options to choose one:
1- Transfer the balance from another credit card to be under 0 interest until August 2016
2- Have the Apple zero interest promotion as it is for new customers
I chose number 2 and I'm very happy...New iMac here I go!:D 18 months to pay you...
 

southerndoc

macrumors 65816
May 15, 2006
1,078
59
USA
I was told you can't use an existing card for the zero interest promotion. McGiord, are you saying you were able to get them to give you zero interest when you called them?
 

McGiord

macrumors 601
Oct 5, 2003
4,522
286
Dark Castle
I was told you can't use an existing card for the zero interest promotion. McGiord, are you saying you were able to get them to give you zero interest when you called them?
Yes. The first operators have nothing in their current list available, the first one that took my call didn't wanted to pass my call to a higher level. The second time I called, I asked again to the first operator, I got the same answer, then I asked to be transfer to a manager (they call them resolution manager), the lady at this level was very helpful and provided me the promotion. Take into account that credit standing as well as any other promotions that they may have for you potentially can be swapped with the apple promotion to buy directly from Apple stores, online or by phone.
 

B.A.T

macrumors 6502a
Oct 16, 2009
620
320
Idaho
I used this 6 years ago and didn't have any problems. I would probably do it again if I needed to.
 

deany

macrumors 68030
Sep 16, 2012
2,874
2,067
North Wales
Do you know what your monthly payment is going to be?

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I won't be going into debt really.
I am just putting off paying the entire purchase for 18 months.
I have no problem meeting the monthly payments and plan on paying if off in full when the deadline comes.
This is just not a problem for me.
I just want to take advantage of the 0% financing which is exactly what it will end up being for me.

But I do know what you are saying and good advice for others in a different situation.
THANKS

----------


thanks!
M&S bank are really good and you only pay a months interest settlement figure. You can overpay too if you wish. Applied Friday in bank following Friday 5K is £93 X 60 (or £99 X 60 for oldies). Nice people based in Chester.

I don't agree with finance of any sort except a mortgage, but I'm 50+
but any young'uns reading this would be we advised to do without than borrow money unless it is for business/work use.

cheers
 
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