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205 views7 pages

CreditPersonalAccountDetails HTML

Uploaded by

suvallance1
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as TXT, PDF, TXT or read online on Scribd
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<!

DOCTYPE html>
<html xmlns="http://www.w3.org/1999/xhtml">
<head>
<meta charset="UTF-8" />
</head>
<body>
<style>
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</style><div class="adequate-explanation-container">
<p class="NCAheader">Freemans plc Written adequate explanation - running
account credit (Flexiway)</p>
<div class="NCAsection">
<p>It is important that you read the Pre-Contract Credit Information
document which is provided to you with this information and your credit agreement.
It contains key details about the credit that you are considering so that you can
decide whether Flexiway is suitable for your needs.</p>
</div>
<div class="NCAsection">
<p class="NCAtitle">What do I use the credit for?</p>
<p>The credit is available for purchasing goods from our catalogue,
website or App.- including purchases from other Freemans plc and Grattan plc
trading group brands (as we will tell you from time to time). You may use the
credit to pay for items on different occasions, so long as you keep within your
credit limit and make the minimum monthly repayments (We may restrict the use of
your account if we consider there is a risk of you being unable to meet your
repayments or if you are showing signs of financial difficulty on any account you
have with us.) The credit is suitable for borrowing on a short-term basis and would
not be suitable for making large purchases and repaying over a long period of
time.</p>
</div>
<div class="NCAsection">
<p class="NCAtitle">What is my credit limit?</p>
<p>Your credit limit will be determined by us from time to time and we
will give you notice of your credit limit. If we propose to increase your credit
limit we will tell you your new limit at least 28 days before it takes effect
(unless you have asked for the increase or you tell us you would like it to take
effect sooner). You will be able to choose how you manage credit limit increases.
We will not increase your credit limit if we consider that you are at risk of
financial difficulty or where you have told us that you do not want any credit
limit increases.</p>
</div>
<div class="NCAsection">
<p class="NCAtitle">How much will the credit cost me?</p>
<p>Your monthly statements will show a minimum monthly payment amount
and you must make a payment of at least that amount each month on or before the
date specified for payment. The minimum payment will be 5% of your current balance
plus any payments or part payments which you have previously missed or £5,
whichever is the greater. It will take you longer and cost you more if you only
make the minimum payment each month.</p>
<p>If you do not clear your full balance each month we will charge
interest at an annual rate of <b>39.94% (variable)</b> on a daily basis until the
outstanding balance on the account is paid in full. This will be added to the
account monthly on your statement date and will be applied from the second
statement on which there is a balance. Interest is calculated from the date of
delivery of the goods and is applied to all items outstanding on your account
(including outstanding interest). We do not charge interest on Late Payment
Charges.</p>
<p>Your Pre-Contract Credit Information and agreement show the total
amount payable. This is an illustration only and it assumes a credit limit of
£1,000 which you draw in full at the outset of the agreement, then don't make any
more purchases and take a year to repay the credit in equal monthly repayments.</p>
</div>
<div class="NCAsection">
<p class="NCAtitle">Promotional Offers</p>
<p>We may sometimes make offers to you, which could include buy now pay
later periods. You will not be eligible for these offers until you have held your
account for a period of time as we make them available at our discretion linked to
your use of this credit account. We provide an explanation below of how a Buy Now
Pay Later offer would work. </p>
</div>
<div class="NCAsection">
<p class="NCAtitle">Which other features do I need to know about?</p>
<p>We may change your agreement, including increasing the interest rate
or charges under the agreement for any good reason. This includes increasing the
interest rate having regard to changes in your credit profile/credit rating, your
performance under the agreement and how you use your account. We will not increase
your interest rate if we consider that you are at risk of financial difficulty.</p>
<p>If we make a change, we will notify you of it at least two months
before the change takes effect (but we may give a shorter period if the change is
to your benefit).</p>
</div>
<div class="NCAsection">
<p class="NCAtitle">What will happen if I don't keep up with my
repayments?</p>
<p>If you miss a payment or make it late then this could have a severe
impact on your finances, including making obtaining credit more difficult or more
expensive as we report missed and late payments to credit reference agencies.
Interest will also continue to be applied to the whole of the outstanding balance
and the size of your debt will increase. Ultimately it may lead to us or a third
party debt collector bringing legal action against you to recover the debt.</p>
<p>We may also charge you the following default charges:</p>
<ul>
<li><span>a late payment charge of £12; and</span></li>
<li><span>reasonable costs (including legal costs on a full
indemnity basis) of tracing you if you move address without telling us, notifying
you of your default, and enforcing payment of any amount due under the
agreement</span></li>
</ul>
<p>We do not charge interest on Late Payment Charges but we do on the
other default charges listed above.</p>
</div>
<div class="NCAsection">
<p class="NCAtitle">What happens if I return goods?</p>
<p>You will still need to pay the delivery fee (subject to your
statutory rights) and for unacceptable returns a fee of £4.95 applies.</p>
</div>
<div class="NCAsection">
<p class="NCAtitle">Buy Now Pay Later offers</p>
<p><b>We explain in your account terms and conditions that we may at
our discretion make Buy Now Pay Later offers available to you if you are eligible
and that we will provide details at the time we make the offer. We explain below
how this offer would work if we provide this option to you in the future.</b></p>
</div>
<div class="NCAsection">
<p class="NCAtitle">What is Buy Now Pay Later?</p>
<p>Eligible customers will be given the option to purchase goods, with
a value of £100 or more, on a Buy Now Pay Later (BNPL) offer. This option allows
you to delay payments on a Buy Now Pay Later order for a specified period.
Although you do not need to make payments until the offer has expired, BNPL orders
are taken into account when we calculate your overall balance and the amount you
still have available to spend. It is therefore important to remain within your
credit limit, which can be found on your statement.</p>
</div>
<div class="NCAsection">
<p class="NCAtitle">How much interest will I pay?</p>
<p>You are not required to make any payments in the BNPL offer period,
but the amount you choose to pay will impact the amount of interest you are charged
at the end of the offer period.</p>
<ul>
<li><span>If you pay off the full amount at any time before the
end of the offer period, you won't pay a penny in interest on your BNPL
balance.</span></li>
<li><span>If you don't pay anything during the offer period, you
will pay interest at 39.9% per annum calculated on the full value of the BNPL
purchase from the date of delivery of the goods until the end of the offer
period</span></li>
<li><span>If you pay off some of the balance during the offer
period, you will incur interest at 39.9% per annum calculated on your final BNPL
balance from the date of delivery of the goods until the end of the offer period.
The more you pay off, the less you will pay.</span></li>
</ul>
<p>To make this clearer we have provided an illustration below based on
the value of a BNPL purchase of £300 over a 12 month period. This assumes that no
payments are made during the offer period and represents an estimate of the
interest that would be charged after 12 months, in this scenario. Please note
that this is only an illustration and the actual period you are offered may be less
than 12 months. The actual amount of interest charged may vary based on factors
such as the date of purchase (in relation to your statement date), changes to the
order and any payments made.</p>
<table class="NCAInterest">
<tbody><tr>
<th class="CAEBNPLHeader">Value of Goods
</th><th class="CAEBNPLHeader">APR
</th><th class="CAEBNPLHeader">Payments Made <br>in offer
Period
</th><th class="CAEBNPLHeader">Interest Added <br>After
Offer Period
</th><th class="CAEBNPLHeader CAEBNPLLast">Total Value
Added <br>to Outstanding Balance
</th></tr>
<tr>
<td class="CAEBNPLVal">£300</td>
<td class="CAEBNPLVal">39.9%</td>
<td class="CAEBNPLVal">£0</td>
<td class="CAEBNPLVal">£119.82</td>
<td class="CAEBNPLVal CAEBNPLLast">£419.82</td>
</tr>
</tbody></table>
</div>
<div class="NCAsection">
<p class="NCAtitle">What if I change my mind?</p>
<p>Once the Buy Now Pay Later offer has been provided, you have the
right to change your mind. You can return the goods within 14 days without being
charged for the items, although you may still incur a delivery charge. If you
decide after 14 days that you do not want the goods on BNPL, you can contact us and
we will transfer them onto your normal account terms immediately.</p>
</div>
<div class="NCAsection">
<p class="NCAtitle">What happens at the end of the offer period?</p>
<p>If you have not repaid the balance in full, then we will contact you
two months before the end of the offer period to remind you of what will happen
next and the options available. At the end of the offer period the outstanding
BNPL balance, plus any interest that is payable, will be added to your outstanding
account balance. From this point, it will behave in the same way as any other
balance on your account. It will then be included in the balance we use to
calculate your minimum required monthly payment and will incur further interest in
the normal way.</p>
</div>
<div class="NCAsection">
<p class="NCAtitle">How do I make payments to my Buy Now Pay Later
purchase?</p>
<p>There are two ways to make payments to your Buy Now Pay Later
purchase during the offer period.</p>
<ul>
<li><span>Log on to My Account</span></li>
<li><span>Call us directly on the number shown on your
statement</span></li>
</ul>
<p>When making a payment, you <b><u>must</u></b> specify that you want
it applied to your BNPL balance.</p>
</div>
<div class="NCAsection">
<p class="NCAtitle">Do I still have to pay my minimum payment?</p>
<p>During the BNPL period, no payments are due on the account for the
BNPL purchase. However, if you have an outstanding account balance, which is not
part of your BNPL offer, your monthly statement will show a minimum monthly payment
amount. You must make a payment of at least that amount each month on or before
the date specified.</p>
</div>
<div class="NCAsection">
<p class="NCAtitle">What will show on my statement?</p>
<p>Your statement will show full details of all BNPL purchases. This
information will be separate from any other purchases due for payment and will not
be included within your outstanding balance or within your minimum monthly payment
amount. All purchases (including BNPL) will be taken into account when calculating
your overall balance and the amount you have still available to spend within your
credit limit.</p>
</div>
<div class="NCAsection">
<p class="NCAtitle">If we do not make you a BNPL offer</p>
<p>We explain in your account terms and conditions that we may at our
discretion make Buy Now Pay Later offers available to you if you are eligible on
the basis of your credit account use and that we will provide details at the time
we make the offer. You may ask us to review any decision not to make you a BNPL
offer on the basis that decision is made by solely automated means - data
protection laws govern this. For further information see our privacy notice
www.freemans.com/privacy or refer to the 'Data protection notice' section in your
credit agreement - in both it is explained how you can exercise your rights under
data protection laws. Please note that we do not make BNPL offers available to
customers in the first 9 months of their credit agreement.</p>
<p><b>Representative Example: Goods ordered and credit provided to the
value of £200, in Month 1. If no payments are made before the end of Month 12,
interest for the 12 months buy now pay later period of £79.88 will be added to your
account together with the £200 purchase amount and this will carry interest at your
Flexiway interest rate until repaid. Representative 39.9% APR variable.<br>This
example represents a Buy Now Pay Later duration of 12 months.</b></p>
</div>
<div class="NCAsection">
<p class="NCAtitle">What if I change my mind?</p>
<p>Once the agreement has been made, you have the right to withdraw
from the agreement (without giving us any reason) within a period of 14 days
beginning with either the day after this Agreement is made, you receive a copy of
the concluded agreement, or we tell you the credit limit which applies to your
credit agreement, whichever is the later.</p>
<p>If you wish to withdraw from this agreement, you must notify us by
calling us on <a href="tel:0333 200 8068">0333 200 8068</a>, or by writing to us at
66-70 Vicar Lane, Little Germany, Bradford, BD99 2XG before the end of the
withdrawal period set out above. Once you have exercised your right to withdraw,
you must repay the credit and any interest accrued on it as soon as possible and no
later than 30 days after you have told us that you want to withdraw.</p>
<p>You should only sign the agreement if you are satisfied that the
product and the terms are right for you. However, if you decide not to sign and
return the credit agreement as the credit facility is not required, please contact
us to make payment by an alternative method.</p>
</div>
<div class="NCAsection">
<p class="NCAtitle">How do you ask us for further explanation or
information?</p>
<p>If you have any questions regarding the credit agreement or would
like to ask us for more information, please contact us on <a href="tel:0333 200
8068">0333 200 8068</a>.</p>
</div>
<div class="NCAsection">
<p class="NCAstatutoryFooter">Freemans plc is authorised and regulated
by the Financial Conduct Authority (no 311341) and subscribes to the Financial
Ombudsman Service. Registered Address: 66-70 Vicar Lane, Little Germany, Bradford,
BD99 2XG, registered in England and Wales company number 321643. VAT number GB <a
href="tel:557 1452 37">557 1452 37</a>.</p>
</div>
<div class="NCAsection">
<p id="footer">Version 22-03A | Agreement Accessed 24/04/2023
12:57:57</p>
</div>
</div></body>
</html>

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