What is deferred interest and will I still pay it when my Argos Card account updates to Argos Pay?

Deferred interest is backdated interest charged on existing Buy Now Pay Later (BNPL) plans that have been set up on your Argos Card account, before your account updates to Argos Pay. It is charged on any balance which is unpaid when the plan ends. So the more you pay before the plan ends, the less deferred interest you'll be charged. If you repay your BNPL balance by the end of the plan, you will not be charged any deferred interest at all.

Good news: You will not be charged any deferred interest on new Buy Now Pay Later plans which are set up after your account has been updated to Argos Pay. However, NewDay will only continue to charge deferred interest on Buy Now Pay Later plans which were already in place on your Argos Card account at the time of the update.

You will be able to view any existing Buy Now Pay Later plans that were set up on your Argos Card, in the Argos Pay app and Online Account Manager once your account updates to Argos Pay. They will also be shown on your statement.