GameStop’s new FlexPay rental program looks as if a large rip-off

At the moment, GameStop introduced FlexPay, a brand new buying program that permits shoppers to hire costly {hardware} and make funds over time. It sounds good in concept, however the phrases are astronomically dangerous for anybody with no credit check score.


GameStop’s new FlexPay program is mainly the store-wide equal of Xbox All Entry. FlexPay provides three totally different suppliers that will help you get {hardware} and video games by incremental purchases: Klarna, Quadpay, and Progressive Leasing. The latter is a hire-purchase program that has charges worthy of rip-off.

On a lark, I went to Progressive Leasing web site and does a fast payout calculation estimate for a $ 499 lease-purchase settlement from my native GameStop ($ 499 is MSRP for Xbox Collection X and PlayStation 5 consoles). The outcomes have been completely horrible. Assuming you did not have any credit score, shopping for a $ 499 console with tiered rental with 12-month funds would value $ 1,181.75 in complete.

GameStop's New FlexPay Rental Program Seems to be a Giant Scam 44 |

That is greater than 200% of the particular financial worth of the fabric. We do not know if it is a mistake … but when not, you will need to keep away from it in any respect prices.

The three-month choice is essentially the most economical, however even that may cost you round $ 100 off the MSRP. The ultimate value with this era shall be $ 598.80.

GameStop's New FlexPay Rental Program Looks Like a Giant Scam 45 |

Additionally learn: Xbox All Entry: Is It Value It? Provided that you will get the most effective charges

The charges differ relying in your creditworthiness. Like Xbox All Entry, your credit score will decide how a lot you pay every month.

The opposite choices, Klarna and QuadPay, are extra possible.

Klarna spreads the whole buy over a interval of as much as 36 months and has a variable rate of interest of 5.99%. There’s 0% APR in the event you pay for the acquisition in full on time. The quantity you pay will depend on your credit score.

QuadPay additionally divides the acquisition into 4 funds. Every fee have to be 25% of the whole value of the merchandise. There’s apparently no credit score verify for QuadPay and the fee cut up is curiosity free.

Previous Funds 2021: How a lot do it's good to earn to purchase with a 5% deposit?
Next Turtle Beach offers gamers the chance to get a free Samsung Galaxy A10e smartphone with any headset purchase at