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Know your account

By admin
25 September 2013

Know your account. Move! asked Truworths to explain how clothing accounts work.

Q. Is it wise to open clothing accounts?

A. Yes, it is, but like any financial transaction, you must manage it properly. An account gives you an affordable option to buy merchandise that you might not have been able to with cash. You can also build up a good credit record that can help when you want to purchase large items such as a home or car.

Q. Please explain the six-months and 12-months options for accounts.

A. We cannot speak for other retailers. The Truworths six-month account option allows you to pay for your merchandise over six months without being charged interest. On the Truworths 12-month account the instalments are lower and interest is charged on the money that is still owed. However, even with the 12-month account you can get up to 55 days interest free if you pay the balance in full before the next instalment due date.