El Corte Inglés will encourage purchases this holiday season by again offering credit lines that allow customers to postpone their payments for up to three months.
Customers at El Corte Inglés, as well as at Hipercor and Supercor will be able to get credit on purchases until January 5, and are required to pay the balance at the end of February in order to keep payments interest free.
They can also decide to postpone their payments even further. The first three payments are interest free, and an interest rate of 8-10% is imposed on subsequent payments.
As reported by elconfidencial.com, the Spanish giant launched this initiative two years ago, pioneering this type of credit line amongst retailers.
Approximately 11 million people in Spain have a El Corte Inglés card.
Experts have predicted that this Christmas will be one of the most profitable to date, with Spanish consumers set to spend 29% more online.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Gabriela Guédez. To subscribe to ESM: The European Supermarket Magazine, click here.
