Harvey Norman - Quick Credit Information

By: Harvey Norman  05/12/2011


See our special 36 months Interest Free promotion below for Furniture and Bedding

  We understand that budgeting a household is an important process – and sometimes it makes sense to pay something off monthly to make life easier. However - as part of offering you this facility - we strongly recommend that you make sure you can comfortably meet all of your future repayments associated with this legal agreement before entering into it. You should always be careful when taking credit – as this is a binding financial contract. Harvey Norman recommends the responsible use of credit.

What is Harvey Norman QuickCredit?

We know that each customer is unique and everyone has different needs, so we also understand that some of our customers would like a choice of payment options. For this reason Harvey Norman has partnered with Creation Consumer Finance, trading as Creation, to offer you a range of payment options to make finance easier. Harvey Norman QuickCredit allows you to select your goods and take them home the same day. This easy finance package offers you an opportunity to divide your payments over a set period for easy management.For our customers in Northern Ireland, please click the button to the right of this paragraph for detailed NI information.

Do I need a deposit?

Yes. A small deposit is required to apply for QuickCredit. 10% of the overall purchase amount is requested. Your credit loan will be based on purchase amount minus the 10% deposit amount. i.e. Total purchase amount €1000, 10% deposit amount is €100, Total credit application amount is €900. Your deposit is payable by Debit or Credit card.   Up to 36 Months Interest Free on Furniture and Bedding only (promotional offer only)
 

Right now get 12, 24 or 36 months interest free on your new furniture or bedding for a limited time only

QuickCredit Up to 36 Months Interest Free allows you to take your Furniture or Bedding home today and divide your payments over a thirty six month easy payment plan at no extra cost. An early payment settlement is available with no extra penalties once inside the 36 month period. This product is great for those who want to take advantage of interest free credit. Example: For a product with a cash price of €1000, a 10% deposit is required. Your new credit amount will be €900. Your 36 monthly repayments will be €25 each with a total amount payable of €900 with 0% APR Representative**

Is QuickCredit up to 36 Months Interest Free the right option for me?

If you can afford monthly repayments and wish to save on interest and spread your costs over 36 months, this is the best product for you. You will have no extra interest costs and the flexibility to make larger repayments than agreed without penalty.

How does it work?

It’s a very quick process! Simply bring in the correct documentation (see below for details), select your goods, have access to your 10% deposit and one of our friendly staff will take you through the online application form. After completion, you should generally know within 15 mins if your application has been approved. If so and the goods are in stock, you will be able to take your new purchase home today. What is the interest rate? It depends on the QuickCredit package you choose. To get the lowest possible monthly repayment, we apply a low rate of interest. Our standard rate of interest is 22.99% APR representative, which is competitive compared to the cost of most credit cards. If however, you are after Interest free, you can make your payments over 10 months with 0% APR representative. Decide what payment plan suits you and your budget. Low repayments or low interest, your choice! Can I pay off my loan early? The answer is yes. Creation will be happy to arrange an early settlement. The earlier you pay off your loan, the more interest you will save. You have full flexibility to make smart financial decisions.

What about the other costs of credIt?

There are no hidden costs to our credit. We will facilitate your QuickCredit with Creation and your repayments are based only on the cost of the goods plus any interest. There are no application or administration fees for you to worry about. How do I repay my QuickCredit? Easy! Direct Debit means that there is no extra hassle. Part of the application process requires you to provide your bank account details and complete a direct debit form which will allow your payments to be made automatically from your chosen account each month.

What are my options?

There are two everyday options to chose from:

1. QuickCredit 10
QuickCredit
10 Months Interest Free allows you to take your goods home today and divide your payments over a ten month easy payment plan at no extra cost. An early payment settlement is available with no extra penalties once inside the 10 month period. This product is great for those who want to take advantage of interest free credit.

Example: For a product with a cash price of €1000, a 10% deposit is required. Your new credit amount will be €900. Your 10 monthly repayments will be €90 each with a total amount payable of €900 with 0% APR Representative**

Is QuickCredit 10 Months Interest Free the right option for me? If you can afford higher monthly repayments and wish to save on interest and spread your costs over 10 months, this is the best product for you. You will hav e no extra interest costs and the flexibility to make larger repayments than agreed without penalty.

2. QuickCredit 48
QuickCredit 48 Months low interest allows you to take your goods home today and pay a much lower monthly repayment. The loan amount and interest is divided equally over 48 months and a direct debit is set up at the time of recieving your agreement. Our everyday interest rate of 22.99% APR representative will apply. This option also offers you the opportunity to pay out the entire amount early within the first 12 months and effectively pay no interest. If you find yourself in this position, full payment of the original credit amount must be recieved before this special offer period ends on the 12th month. To take up this option you must manually make a balloon payment of the full balance or make additional payments along with your direct debit throughout the year to ensure the loan amount is paid in full, please note this will not happen automatically.

Example:
When you pay over a 48 month term, for a product with a cash price of €1000, a 10% deposit is required. Your new credit amount will be €900. Your monthly repayments with 22.99% APR representative will be €27.80. Over 48 months the total amount paid will be €1334.40 including interest.**

Is QuickCredit 48 the right option for me?

  • Want to spread your repayments over a longer period to free your money up for emergencies?
  • Moving house or updating your lifestyle?
  • Just want to treat yourself?

We understand that big purchases in your life require flexibility and our QuickCredit 48 month option is perfect for these all important occasions. We would like to make it as stress free and easy as possible.With this option you can avail of our competitive interest rate and take the time you need to repay according to your budget. Later if you decide, you can even repay early and save interest.

Who can apply for QuickCredit?

To apply for QuickCredit at Harvey Norman you must meet the following criteria:
  • You are between 18 and 80 years of age.
  • You have been a resident of Ireland or the UK for a minimum of two years.
  • You can supply a fixed land line Telephone Number. (Home, Work, or Relative) Please be aware that a mobile number alone is not sufficient.
  • You have an Irish bank account that supports Direct Debits.
  • You have proof of bank details showing your name, sort code and account number. (Bank statement, Cheque book or Bankers card).
  • You have a regular income: Full Time / Part Time Employed, Self Employed, Retired or in receipt of Disability Allowance. If you are a student with Part Time Employment, a minimum of 16 hours per week is required.
  • You have an official form of photographic Identification (current licence or passport) and an original Proof of Address (such as a utility bill) dated within the last 3 months.

What do I need to briIng with me?

 To apply for QuickCredit you must bring the following documents to the store:
  • Current Passport or driving licence*
  • Pr oof of current address dated in last three months (eg. Utility bill)* If you have not lived at your current address for at least 3 years, you will need to bring original proof of your previous address
  • Current Irish bank Account statement and details (A/C no. & sort Code)*
  • Initial 10% deposit

*Original documents only, no photo copies will be accepted.

Will I get approved? Creation is the finance provider and makes the final decision based on information from the Irish Credit Bureau (ICB). This is not a decision for Harvey Norman. You must have the documents outlined above and you must meet the previous listed terms. If you have been approved for Credit in Ireland or the UK in the last 3 years and you have a positive credit history using any other form of Irish credit (credit card, bank loan, mortgage, or car loan) your chances of approval will increase. There is however no guarantee of approval and in the unlikely event that you are declined we can provide you with an extra information leaflet and contact details for the ICB. For privacy reasons, Harvey Norman are not made aware of the reason for a finance decline and therefore will be una ble to discuss this with you. Creation can advise you further on this matter.

What are my repayments with QuickCredit 48?

Simple! Have a look at our Finance Repayment Calculator and you will see what is achievable for you and your budget. Our Calculator will give you an idea of what your repayments may be, based on the value of your purchase. This is just a general guide and our friendly staff can give further details regarding your credit repayment when processing your application in store. Harvey Norman QuickCredit 48 Finance Repayment Calculator Monthly repayments over 48 months at 22.99% APR representative

*The following repayments per month are estimates only for QuickCredit 48 at 22.99% APR representative after payment of a required 10% deposit.

                                 

Important / Regulatory notice: **Lending criteria, terms and conditions apply. Credit facilities are subject to repayment capacity and financial status and are not available to under 18 or over 80 years of age. Minimum purchase of €400 and 10% deposit applies. Monthly repayments in the above table are estimates only for QuickCredit 48 at 22.99% representative after payment of required 10% deposit. Finance only applies to normal ticketed pricing or as advertised, no further discounts available. Please be aware that certain products will not have immediate delivery due to availability. The finance offers and calculation’s above are only available in Harvey Norman Stores in the Republic of Ireland. Credit is provided by Creation Consumer Finance Ltd, 6th Floor, Royston House, 34 Upper Queen Street, Belfast, BT1 6FD and are Registered in Northern Ireland No: NI32565 regulated by the Financial Services Authority (FSA), in respect of insurance mediation only. Harvey Norman strongly recommends that before purchasing this product that you read the Important Information on your Creative Consumer Finance Contract.

The information in this article was current at 02 Dec 2011


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