Bad credit catalogues are easy enough to find, but they will be under the guise of instant credit catalogues. For a bad credit catalogue application to be processed, there will be an eligibility check as well as a credit check. This will show, not only your current credit score, but also your ability to make the minimum monthly repayments. The catalogue lenders will be looking for the following things to assess your stability:
Bad Credit Catalogue Criteria
- The length of time at your current address, and if it is rented or owned.
- Your age and nationality, length of time in the UK
- A current UK bank account
- Income and outgoings
There are a few popular household names in the catalogue world such as Freemans and Grattan who were the leaders in home shopping long before it was as easy and convenient as it is now. Their heavy catalogues adorning many a kitchen table from the 1970’s onwards. These catalogues were in their time one of the only credit facilities available to the average household and were popular before credit cards started to take off. As a catalogue agent, you were responsible for the people in your family or friends who purchased from your account, and this was the only form of bad credit catalogue that was available until the rise of the internet and the onslaught of easier credit options. Now Freemans and Grattan are still the top of the leader boards in instant and bad credit catalogues and have shown the way forward for the likes of Look Again, Very.co.uk and Fashion World.
The best all round bad credit catalogues for a range of products from both fashion and footwear, but also home and garden items are listed below with their representative APR interest rates. It is important to take note of the interest rates, if you only pay the minimum payment asked for each month, it will take longer to pay off your items and the interest rates begin to apply after the initial interest free period had expired. This means that you will be paying more than the initial price overall for your products.
- Next 9% APR
- Simply Be, Jacamo 9% APR
- Argos 9% APR
- Kaleidoscope, Bon Prix, Freemans, Grattan 4% APR
- JD Williams, Very.co.uk, La Redoute, Curvissa 9% APR
- co.uk, Studio Cards 41.4% APR
- Fashion World 7% APR
All of the above are known to be bad credit catalogues, as a rule, the ones with the higher interest rates will be most likely to accept bad credit customers, and it is wise to apply for one of the middle or higher interest rate catalogues first as a rejection on your credit file can be damaging and could limit your credit further. Once you have been accepted by one, you will find that other bad credit catalogues or instant credit catalogues are likely to accept your application as well.
If you have been accepted for a bad credit catalogue, you can actually begin to restore your credit file in a positive way, and if you keep on top of all repayments at the right time you will be offered higher credit limits over time. You could see your credit limit extended to over £1000 from a small starting limit of £200, this way will both prove you are a responsible lender and able to make your repayments. Future creditors will also see the positive and well-kept accounts in your credit file. This will help in the long run should you be intending to apply for credit cards, store cards or unsecured loans in the future.
Having a bad credit catalogue is not just about having an instant credit line or rebuilding your credit history. The convenience of a bad credit catalogue can actually save you money as well as time. Often there is a very big discount on opening a personal credit account with most of the catalogues above. This can add up to quite a saving. If you are looking for a specific item, the possibility is that it can be found amongst the many sections in a bad credit catalogue. If you apply the discount and check the High Street prices, you may be very surprised with the results. Add together the time saved by not queueing at a checkout, running to beat the parking warden, or just generally packing the kids into the car for a shopping trip, home shopping from a bad credit catalogue becomes more appealing. Should your chosen item not be quite what you liked, once delivered by a cheerful courier to your door, you simply click the return section in your online account, and the courier will be back the next day to collect and return it. What could be easier.
The time saving aspect of home shopping is one of the major reasons that instant credit and bad credit catalogues have taken a major part of retail profits away from the High Street. Listed below are some of the other great benefits to be found with a bad credit catalogue.
- Easy to use online payment and ordering facilities
- Account customers will have seasonal and birthday bonus discount codes to use
- Application process for an instant decision in minutes
- Interest free payment periods up to 4 months or buy now pay later schemes
- Order until 10pm at night, for delivery the next day
Whatever your reason for bad credit in the past, a bad credit catalogue will give you back the freedom to purchase with credit with the knowledge that are actually improving your credit history with every on time payment you make.