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How does Frasers Plus compare?

As you can see in the table below, Frasers Plus has many of the same features and benefits as Studio Pay.

What are the main differences?

Although Frasers Plus has many similarities with Studio Pay, there are some differences to point out.

Shop online and in-store

You’ll be able to use Frasers Plus to shop both online and in-store across a network of Frasers Group retailers and partners. Click here to find more.

When will my payment be due?

Your payment date will be a fixed date each month.

Instalment plans

Your purchases will be placed on an instalment plan. With each instalment plan you can choose to pay in 3-months interest free or you have the option of a 6, 12, 24 or 36 month instalment plan, whichever suits you best.

You can also choose to pay off your balance in full by selecting a 1-month instalment plan. 

With Frasers Plus you also have the option to replan each purchase onto a different instalment plan later. Click here for more information.

Loyalty points and rewards

With Frasers Plus, you’ll get 1 loyalty point for every £1 you spend. You can then turn your points into rewards. 500 points = £5 to spend at participating retailers. Click here to find out more. 

Access your statement online

You will only be able to access statements electronically via your Frasers Plus account. You’ll no longer be able to receive a statement in the post.

Minimum monthly payments

Each purchase is placed on an instalment plan with a monthly payment. These will be combined into a total payment for you to pay each month. 

With Studio Pay, the minimum monthly payment is currently 6% of your overall outstanding balance or £10 (whichever is greater).

No cheque and giro payments

With Frasers Plus, you’ll be able to pay by local bank transfer, instant bank transfer using open banking or you can set-up a direct debit. You can also pay by credit or debit card.

There will be no option to make cheque and giro payments as is currently available with Studio Pay.

Interest calculations

Frasers Plus calculates the interest upfront for the instalment plan you choose, so you know how much interest you’ll be charged for your purchase. You’ll know the amount of interest for each month in your plan. 

With Studio Pay, interest is currently charged based on your outstanding balance at the time your monthly statement is produced.

No interest on arrears or late fees

You won’t be charged interest on amounts that are in arrears. We’ll not charge interest for any late repayment fees which are added to your account. But we may charge interest on any late repayment fees that were included in any balance held by you that has been transferred to Frasers Plus from another credit product provided by us.