It is a little known secret, but access to a bad credit catalogue is not as difficult as you may believe. Many are hidden under the label of instant credit catalogues as they do not go out of their way to advertise the fact that they accept bad credit. Instant credit catalogues have their own lending system. Opposed to applying for a credit card, a bad credit catalogue will take more into consideration than just employment status and a high credit score. They will perform an eligibility check to ensure that you can afford the repayments and will increase your credit limit over time once you prove that you can keep your personal account in good order.
Bad credit catalogues – A great solution
There are many reasons that a bad credit catalogue can be the perfect solution for anyone who has been left with the bad credit label. This should not be anything to be ashamed about, as even those who have never had credit are still considered a bad credit risk. It is important to know that all catalogues, bad credit or not, will perform a credit check, and this will be logged on your file, even if you are rejected. Too many rejected applications, can hinder your credit even further, so it is wise not to keep applying if you have been rejected a few times.
To find the best bad credit catalogue in the first place is the best way to go. Most likely to accept bad credit applications would be the bad credit catalogues that offer instant credit and have higher interest rates. A bad credit catalogue that offers both home and fashion ranges, that includes well known High Street names and Designer Labels, is Fashion World. They have an APR of 58.7% which does seem very high, but with a period of up to 4 months of interest free payments on each purchase, if you pay off you statements with more than the minimal amount, you will never have to worry about the interest as it will not be added unless your account takes longer to repay. If your application is rejected, it would be wise not to apply for others, however, if you have been accepted by Fashion World, then it is very possible that you will be accepted by others such as Simply Be, JD Williams and Grattan. These instant bad credit catalogues have lower interest rates but will still base their lending on your personal status and the account will build in credit the longer you keep a good account. You may find that your starting credit limit will be less than £200, but often within the first few months this will be raised if you pay your account in full, or at least more than the minimal amount asked for.
If you are clever with your bad credit catalogue, you can start to repair your bad credit score, as well as enjoying convenient delivery and returns options and you will also find that with the fabulous discounts over the year, you can actually save money against many High Street Prices.