While credit catalogues have been around for years, their popularity has increased rapidly over recent years. One the reasons this is the case is that more and more shoppers are realizing the benefits of using catalogues. As we will later see in this article, credit catalogues can benefit you in many ways especially if you have a poor credit history.
Another reason catalogues are so popular today is that there are so many of them, and they target all kinds of customers. Again, most of them offer the buy now pay later option, which is attracting many shoppers. These catalogues stock all kinds of items; anything you could buy from a random online or brick and mortar store is now available on catalogues.
In addition, today so many bad credit catalogues have emerged, targeting people with poor credit scores who are finding difficulties getting goods on credit on traditional catalogues. But is it okay to use catalogues if you have bad credit? Yes, there is no problem with using catalogues when you have bad credit. Here are five reasons why;
• Catalogues are meant to be used by anyone
There are no limits as to who can use catalogues. Some people think that catalogues are meant for people with good credit scores while others think that only people with bad credit should use catalogues. This isn’t true; catalogues can benefit anyone, even those people who do not have a credit history at all.
So if you have a bad credit score, it is okay to use a catalogue. And in any case, it is often those people with bad credit that need the help of bad credit catalogues the most. As mentioned earlier, bad credit catalogues are increasingly setting up shop these days, targeting individuals with not-so-good credit histories.
• For some credit catalogues, your credit history isn’t a big issue
Many credit catalogues are not concerned so much about the credit history of their customers. They are more concerned about the customer being mindful of their future financial responsibilities. This is the reason some bad credit catalogues don’t even check the credit history of a shopper. It is the same reason we are seeing more buy-now-pay-later options being offered.
However, it is extremely important to ensure that you pay up once you purchase goods on credit via a credit catalogue. This is because if you miss payments, your credit score will get even poorer, and you will still have to pay up in one way or another.
• Catalogues help people to rebuild their credit scores
This is especially true for bad credit catalogues. How does this work? A bad credit catalogue will allow you to purchase goods without having to pay the full prices at once. They have a range of payment options including allowing you to spread the cost over several months or weeks. This means that you will be paying for the items bought in small installments. They give you an opportunity to prove that you are a responsible person who can pay bills promptly every month or every end of the week.
When you don't miss payments and manage to clear your debts on time, your credit history will gradually improve. In the long run, as long as you continue shopping and ensuring that you don’t miss payments, you credit score will improve significantly.
• You can buy a range of products
Catalogues stock all kinds of items from clothes, electronic home appliances, home décor products to shoes and furniture. You can purchase anything you want from a credit catalogue. If you make regular payments, you become more trustworthy, and the catalogue can even allow you to get the more expensive items because they know you will pay up.
• Catalogues allow interest-free periods
As the number of credit catalogues increases, there is increased competition for customers. So catalogues are now offering shoppers various incentives including interest-free periods. Whereas some interest rates apply after the interest-free period elapses, shoppers can avoid incurring the interest by paying off the amount owed within the interest-free period. Many credit catalogues offer a 3-month interest-free period.
Also, credit catalogues do not have any penalties for pre-payments. Over time, they can extend the financial accounts, and as you keep paying up as required of you, you will earn yourself more shopping opportunities and your credit score will improve.
So it turns out that it is okay to use catalogues even if you have a bad credit history. To sum this up, here are some pros of using credit catalogues;
– There’s a wide range of catalogues to choose from
Since there are many of them, you get to compare and choose one that will best suit your needs. When comparing catalogues, some of the factors you should consider include interest rates, commodity prices, and whether or not a catalogue is offering discounts and free deliveries.
– Catalogues can save you a lot of money
With increased competition, credit catalogues are constantly looking for ways to lure customers. This is the reason many are offering huge discounts and free deliveries. So by using a credit catalogue, you can save a huge amount of money.
– You control how your pay
Credit catalogues provide customers with various payment options. In fact, some even allow customers to choose how they want to pay for their goods and when to start making payments. This way, they are able to avoid defaults.
If you have a poor credit history, opening an account with a credit catalogue does not only help you build up your credit score but also provides you with a great shopping opportunity. It is, however, worth mentioning that to have an amazing shopping experience with a credit catalogue, you will have to make sure that you always make payments as required of you. Note that missing even one payment can adversely affect your credit score. Prompt payments, on the other hand, will improve your credit score and, therefore, increase chances of you being accepted by other lenders.