What you need to know about Studio Pay
Credit Account shopping

Studio Pay Frequently Asked Questions (FAQs)

• Can I spread the cost?

  Yes, it's easy to spread the cost at Studio with a Studio Pay Credit Account.

  You don't need to make a payment when you order, you simply wait for your statement. Once it arrives you can either pay in full or spread the cost and pay monthly to give yourself a bit more time.

  Remember, you must pay the minimum payment each month, and it's always best to pay off as much as you can afford. If you pay off your balance in full, on time, you pay no interest.

• What are my repayments and when are they due?

  Each month we send you a statement showing what you've bought, refunds you've had, payments you've made and any charges due. Your statement also shows how much you need to pay and when.

  You must make at least the minimum payment. If your balance is less than £10, you'll need to pay in full.

  Remember it's always best to pay off as much as you can afford. If you pay off your balance in full, on time, you pay no interest.

  If you don't pay the minimum payment or you are late paying it, we may charge you a fee of £12. Refunds and returns don't count as payments.

  If you're waiting for a refund or have a dispute on your account, you must still pay at least the minimum payment.

• How can I make payments?

  You can make payments on our website, via the Studio app, or over the phone with us, or by posting a cheque, or postal order. You can also pay via your bank, in branch.

  The easiest way to pay is by Direct Debit, which automatically takes the minimum payment every month.

• How do you calculate interest?

  We charge interest when you pay monthly for your shopping. Your statement shows you how much interest you've been charged that month, and also how much you're likely to be charged the month after.

  We calculate the interest daily using the account balance, once we have processed all transactions for that day. We then add the total of the daily interest charges to the account balance on your statement date. Interest is 'compounded', which means we charge interest on interest. We don't compound interest on default charges.

• How does interest work with an Interest Saver plan?

  If you take advantage of an Interest Saver plan you won’t need to pay interest if you pay the plan balance in full by the time it expires. If the balance is not paid in full then interest will be charged on the balance remaining and back dated to the order dispatch date.

• What can I do to reduce interest?

  There are 4 ways you can reduce how much interest you pay:

  • Paying the full outstanding balance before the due date will ensure no interest is charged
  • Pay off as much as you can each month
  • Make your payments as soon as you can each month
  • If you’ve chosen an Interest Saver plan paying the full balance outstanding before the end date will ensure that no interest is charged. Paying as much of the balance off before the end date will reduce the interest charged at the end of the plan.

• I have a Buy Now Pay Later plan, how does this work?

  Buy Now Pay Later (BNPL) plans are not currently available to new or existing Studio Pay customers. However, you may still have a BNPL plan running you took out in the past.

  BNPL plans allow you to get what you need now and pay nothing for the length of the plan. Once your BNPL plan starts, you don’t need to make any payments until the plan ends. If you pay off the plan balance before the end of the term you pay no interest. If you don't pay off your plan balance by the end date you'll be charged interest on the balance remaining. Interest is backdated to the order dispatch date and added to your Studio Pay Credit Account.