You can obtain copies of them from the three credit reporting agencies in the UK: Where can I find a copy of my credit report? However, once you start making regular payments on your account, you can expect to see that number go up, meaning that you can place bigger orders in the future. Similarly, the longer you are a customer in good standing with any given shopping catalogue, the more likely your credit limit will increase.įirst time buyers with any catalogue should not expect to be given a line of credit that’s much more than £100 or £150. The higher your credit rating, the more credit you’ll have extended to you for your first order. The amount of credit you are eligible for depends on your credit rating and how long you have been a customer with a particular shopping catalogue. If you forget to enter it, you forfeit the discount. However, to actually get the discount, there is often a code that you must enter. These discounts will often be advertised on the catalogue website’s homepage. Many retailers, in an effort to bring in new customers, will offer 15%, 20%, or even 30% off a first personal account order. Many catalogues have a two week return policy, but it’s important to confirm this type of information before making your first order.ģ. Also, make sure you can return an item if it doesn’t fit or is not as you expected. You don’t want to be surprised with a large delivery charge. Many will ship your order right to your door for under £5, but some charge more. Take some time to familiarise yourself with the shopping catalogue’s delivery and return policies. Under £100 is definitely recommended, but to really improve your chances of being approved (especially if you have a poor credit rating), keep it under £100.Ģ. Keep your order value low, since you may not qualify for a high line of credit as a first time buyer. What do I need to know about placing my first order?ġ. The site will quickly run a credit check based on the information you provide, and you should know if you’re approved or not approved rather quickly, usually within a minute or two. With many online shopping catalogues, you can apply right on the website by entering your information. The process of applying for credit varies from catalogue to catalogue. Each catalogue have their own credit criteria so if you have been rejected by one company, it does not mean you will be rejected by them all. When applying for a catalogue account, a credit check/affordability check will be performed to ensure you can afford the minimum repayments and also to determine your identity. If you have bad/poor credit history or have not yet built a credit rating, your application may be declined. Catalogues which provide this option can be harder to get approved with. Catalogues which do not offer Buy Now Pay Later, usually request your first payment a month after you have received your shopping. Buy Now Pay LaterĪ number of catalogues offer Buy Now Pay Later (BNPL) payment plans which allow you to get the items you want now and start making monthly repayments at a later date (usually 3-12 months). Payment plans vary for each retailer so make sure you check the terms and conditions carefully. There will usually be a minimum amount you have to pay (usually around 5%), although you can of course pay more to reduce your balance and overall interest. For pay monthly catalogues, you will receive a monthly statement showing your current balance and amount you have to pay. Pay Weekly/MonthlyĪll catalogues featured on this page offer pay monthly and sometimes pay weekly plans, allowing you to make repayments to suit your budget. This is the trade off for spreading the cost of your order over several months or years. Understand that paying for your order on catalogue credit means that you will pay more for your order than you would have if you had paid cash for it. Opening a credit catalogue account is subject to status and affordability checks and is available for UK residents aged 18 and over. You usually receive a decision instantly and be provided with a starting credit limit. Once you have found the items you want, you can apply for a credit account when you check out. Credit is subject to affordability and status. Catalogue accounts available to UK residents over 18 years of age.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |