There are a number of factors to consider when making the decision to open a credit account with a UK catalogue company. Shopping with one of these retailers can sometimes cost you more money in the long run (especially if interest rates are high), although you will be able to spread the cost of your payments over time.
You will also be able to order from a wide range of products, and have your order delivered directly to your door. Here are some of the benefits and negatives of credit catalogues, with information on how to open a credit account with the best catalogue companies out there.
1. Choosing the right catalogue company
You will need to choose a company that offers you various ways to make repayments for any items you have purchased, as well as a credit account with a low rate of interest. The amount of interest you will be charged on your credit account will depend on the catalogue company, so it’s always a good idea to do your research beforehand.
Some companies have an “interest free” period, where you will not be charged any interest as long as you pay for any items you have purchased in full by a certain date, for example within three months. Catalogues247.co.uk provides guides and reviews of the UK’s most popular catalogues and give an overview of the different credit options they offer.
2. Making repayments
Ordering from a catalogue company can still provide you with a great flexibility, especially if you want to spread your payments over time. This can help you to budget more effectively, and you will be able to control your finances by logging into your credit account on the catalogue company’s website. Retailers like Fashion World and Littlewoods allow you to pay for your items in monthly instalments, whilst others like BrightHouse give you the option to pay on a weekly basis. You will receive a statement in the post detailing the minimum amount you need to pay, your credit balance, and any items you have purchased within the previous billing period.
3. Wide range of products
One of the positives of ordering from a catalogue company is the wide range of products on offer to you as a credit account holder. For example, companies like JD Williams specialise in plus-sized clothing for women, with many products that you wouldn’t normally be able to find on the high street of your local town or city. Other benefits of ordering from a catalogue include prompt delivery directly to your door – ideal if you need an item to give as a gift to a loved one.
4. Opening an account
One of the negatives of catalogue companies is that you may be refused a credit account if you have a poor credit history. However, there are many companies that may still provide you with credit as long as you are able to make repayments. Opening a new credit account with a retailer is straight-forward, and you will normally be given an instant decision in most cases as to whether your application was successful or not. For example, you can apply for a Next credit account by visiting your local store. Other companies may ask you to provide some identification in order to further your application, such as a passport or driving license.