Finance Information

What is Interest Free Credit from Pay by Finance?

Pay4Later Interest Free Credit is a loan that can be applied for purchasing an item on our website. The finance is interest free if you buy over 6 months, which means that you will pay no interest on the amount borrowed. You pay a deposit now and settle the balance over an agreed period by direct debit. You can also choose to spread the cost over either 12 or 24 months if this suits you better (19.9% APR.)

What are the benefits of taking out Credit?

Pay4Later Interest Free Credit (0% typical APR over 6 months and 19.9% APR over either 12 or 24 months)) allows you to spread the cost of the payment of the goods over a period of time. This means that you can pay a set amount over a number of months, instead of paying the lump sum straight away.

How does Credit Work?

Pay4Later Credit allows you to spread payments over 6,12 or 24 months. Here is an example of how much you would pay on a £3891.84 ring on 24 months Credit. Remember if you buy the item over 6 months you pay no interest at all - it's completely Interest free.

You can work out a monthly payment plan by using our simple finance planner. Remember to add the Pay Later option before purchase.

Finance Options
Deposit Amount	£389.18
Monthly Payments	£175.27
Loan Amount	£3502.66
Total Repayments	£4206.55
Total Amount Payable	£4595.73
Total Payments	24

Can Interest Free Credit be taken out on any of the products online?

Interest Free Credit can only be applied for on products with a value above £500. Interest Free Credit is unavailable on the purchase of any sale items. Discount and promotional codes cannot be used in conjunction with Interest Free Credit related purchases. We apologise for any inconvenience that this may cause.

Can I apply for Credit?

If you are aged over 18, you can apply for credit. To be accepted for finance, you have to meet Pay4Later Consumer Finance’s criteria.

Who is the credit provider?

Consumer credit service provided by Pay4Later in association with Omni Capital Finance. Pay4Later is licensed by The Office of Fair Trading (Consumer Credit Licence: 0616240). For more information on consumer finance please visit the frequently asked questions/on our website.

Omni Capital Finance is licensed by the Office of Fair Trading and a member of the Finance and Leasing Association. For more information please visit http://www.omnicapitalretailfinance.co.uk

How do I apply for Credit?

Once you have chosen the goods to purchase, you will be presented with your preferred payment option. You can either choose to ‘Pay by Card’ or ‘Pay4Later’ option.

Once you have chosen the payment term, you will be taken to the Pay4Later website to complete the application. Once approved, you will be required to check the e-signature box to sign the credit agreement and submit the application.

When will I be notified if I have been accepted for finance?

Once completed a decision is returned in around 10 seconds. If your application is declined and you feel unhappy about the decision, you can write to Pay4Later and request further details about your application at:

Customer Services
Pay4Later
46 New Broad Street
London
England EC2M 1JH

Please clearly state the reason that you are writing and provide your name, address and postcode.

When will the first monthly payment be due?

Once you have completed the application, your first repayment will be taken by Direct Debit approximately 30 days from your receipt of the goods.

Who do I contact for more information about Credit?

If you have a question about Pay by Finance, you can call us on 0121 236 7545 (9am to 4.00pm - Monday to Friday). This website www.gemsmiths.co.uk is owned and operated by Lawrencetown group Ltd. Further information can be obtained in writing or via e-mail to the following address: 10 Red Lion Square, Heanor, Derbyshire, DE75 7PA
Company Number: 11883220