QCard Financing

[emaino]

Does anyone here had any experience with the QCard financing system?

I'm checking different financing/loans products so I would be able to completely furnish our next rental. I was wondering if there's any financing plan that would cover a 10k+ expense.

[dusk]

not heard of them I'm afraid - so can't comment,

Are you looking to furnish the rental and then keep the furniture long term or just on a temporary basis - if the latter you might consider using trademe as a cheaper option then spending 10K

[emaino]

not heard of them I'm afraid - so can't comment,

Are you looking to furnish the rental and then keep the furniture long term or just on a temporary basis - if the latter you might consider using trademe as a cheaper option then spending 10K

We are looking to furnish the rental and keep the furniture when we buy a house. Should take a while, anyway. I think 10k will be enough to buy everything we need from scratch.

The QCard is used when you want to use the promotions like "17 months without interest plus deferred payment" from Harvey Norman. You only pay a part of the amount each month so, if you don't have any interest, looks better than a normal personal loan.

[victoria24]

Dont do it! The rates and mechanisms are massively expensive.. Go see your bank.

[emaino]

Dont do it! The rates and mechanisms are massively expensive.. Go see your bank.

Actually, if you have 17 months without interest and if you can pay everything before that looks like it's better than a personal loan where you will have to pay interest for the same amount of time.

Is there any other catch that I can't see at the moment? I know that you have to pay some initial registration fee but every bank should have something similar.

[frootbat]

We paid $250 fee for a smallish loan from Westpac just to tide us over for a few months, they wouldn't give us an overdraft. Sucks having no credit history. So yes, you will pay wherever the money comes from.

[broadsword08]

used the q card a few times now... only when its interest free of course... and then you have a set-up fee and a 6 monthly account charge... no other charges if you pay it all off in full at the appropriate time... last time we did it the charges versus the interest on the money meant that we weren't making a couple of bucks out of leaving our money in the bank like we did the first time... but for the right deal it CAN be a lot cheaper than a loan from your bank
you should shop around... we got 2 years interest free and a discount on our sofas out of H&J... harvey norman is the original home of the con so knock them down at least 25% and insist on your 18 months interest free... we actually got a new tv on 24 months deferred payment and a further 6 months interest free... of course it probably not worth anything when we make that last payment but thats life isnt it ;o)
a harder challenge than paying for things will be finding nice, good quality furniture that is not absolutely ridiculously over priced... but thats another story!