Archive account review 2022

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For anyone who wishes to purchase athletic and casual apparel on credit, the Archive account is one of the best store credit cards for such purchases. Archive account holders have access to promotions and personalized vouchers when they spend using their accounts. As a result, the more the account is used, the more likely it is to receive discounts and coupons.

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Archive is a casualwear and sportswear store that sells some of the world’s most high-end sportswear. Nike, Puma, Jordan, Fila, Vans, Reebok, ASICS, and the North Face are among the brands sold at Archive. All Archive account holders can shop across all of the brands mentioned above, as well as others.

Apart from Archive, the account can be utilized at other stores. The Foschini Group is a partner store of Archive, so the account can be used at any TFG partner stores. The account now has new shopping opportunities thanks to Archive’s affiliation. Account-holders can now shop for items other than fashion.

You’ll need to grasp a few things about the Archive account if you want to get your hands on it. The Archive account is discussed in further depth below. In the following sections of the article, we go through how the account works, as well as the account’s benefits and drawbacks.

Archive account Summary

The Archive account is a revolving store credit account usable at any Archive store in South Africa. Those who are over the age of 18 and have a source of income are eligible for the account. Since there is no minimum income criterion for the account, it can be applied by anyone who earns a salary, allowances, or commission.

After the account is approved, it is automatically enrolled in the My TFG rewards program. Account-holders can earn discounts on certain purchases as well as customized vouchers through the My TFG rewards program. The My TFG rewards program also offers cashback opportunities.

All new account holders will receive vouchers in addition to the account. New accounts receive R1500.00 in vouchers that may be spent at any Archive store or at Archive partner retailers. For a period of six months after the account is opened, vouchers can be redeemed on a piecemeal basis. These vouchers come with particular spending guidelines that must be followed in order to make a claim.

The account also comes with a special offer for customer protection insurance, which protects the account credit. If an insured incident occurs, this insurance package ensures that the account is paid up. Death, temporary disability, permanent disability, and loss of income are all insurable events.

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Account-holders can choose from a variety of budget options when making purchases with their Archive account. Budget plans include an interest-free six-month budget and an interest-bearing twelve-month budget. The monthly repayment amount will be influenced by the budget you choose. 

How the Archive account works

Before you can get your hands on an Archive account, you must first apply for one. Those over the age of 18 are eligible to apply for the account. You can apply for the account online on the Archive website or in-person at any Archive shop in South Africa.

When a credit application is granted, credit is assigned to the Archive account. The amount of credit granted will be determined by the applicant’s credit profile, as well as his or her income.

Credit can be used to make purchases in Archive stores, online on the Archive website, or at any TFG store once it has been assigned. The total amount of purchases must not exceed the credit limit set by Archive.

If an account holder wants to raise his or her credit limit temporarily, he or she can do so by applying for a credit increase. A temporary credit increase is available to account holders to enable them to make purchases that exceed their credit limit.

A permanent credit limit increase can also be requested by the account user. However, once the account holder’s credit profile changes, Archive has the option to increase credit. If the account holder does not make timely payments to the account, the credit can be reduced.

It will be necessary to repay the borrowed funds. Since the refunded amount is instantly available following payment, it can be used to make credit transactions again. However, if temporary credit was used, the money repaid to the Archive account will have to be used to settle the temporary credit first before the actual credit can be settled. 

Advantages of the Archive account

  • The account comes with R1,500.00 worth of shopping vouchers.
  • Applicants can apply for the account online, making it easier for them.
  • Account-holders are automatically enrolled in the myTFG rewards program, which provides them with personalized vouchers and discounts.
  • The account can be used to make purchases online at Archive or any of TFG’s partner store websites.
  • There are more than 900 shops to choose from.
  • The account can also be used to shop at non-fashion stores.
  • Any account holder has access to an interest-free budget option.

Disadvantages of the Archive account

  • If payments are missed and not communicated on time, the account may accrue extra interest.
  • There are too many purchasing options, which might lead to overspending.

Archive account requirements

  • Must be over the age of 18 years at the time of application.
  • Have proof of income such as a payslip or 3 months bank statement.
  • Proof of residence that is not older than 3 months at the time of application.
  • A valid South African ID book or Smart card or a valid driver’s license.

Conclusion

Account-holders who have an Archive account can use credit to shop at the company’s stores. Account-holders can also shop at any Archive network store, potentially negating the need for numerous store accounts. When purchasing with the account, don’t go overboard. There are many stores where the account can be utilized, which can lead to account holders succumbing to temptation.

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