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Bad Credit Catalogues
With the UK possibly on the verge of another recession and unemployment levels at a 17 year high, many people are feeling the pinch and finding that there is just too much month left at the end of the money.
So what can you do if your credit rating is less than perfect and your washing machine breaks for example? The banks won’t lend you any money and finding a spare £200 to £300 is not always an option. You could always try one of the new pay day loan companies you see on TV, however you may find yourself paying back far more than you intended.
There is an alternative though, and that is one of the many online catalogues that specialise in helping people with a bad credit rating history still be able to purchase items such as fridges, freezers and washing machines.
At ISME, an online shopping catalogue company that is part of the Shop Direct Group that also own Littlewoods, they offer payment options that are designed to help people with bad credit ratings get the credit they need to buy essential new appliances without resorting to less desirable credit sources.
One option ISME offer is their ‘Clear your balance in full’ option. You simply sign up for an ISME account add the product or products to your account and you won’t have to pay any money up front. You will receive a statement every 28 days telling you how much you owe and as long as you clear your outstanding balance by the payment due date you’re credit limit will be restored and you can continue to shop should you want. Generally with these credit options there is no interest to pay as long as you clear the balance in full by the agreed date. This option is perfect for smaller purchases, typical those of less than £100.
The second option at ISME is the ‘Spread the cost’ option. This option is usually used for larger items such as computers and laptops, it allows you to purchase products now and only pay back as much as your able to on a monthly basis until the full amount is cleared. Spreading the cost with an online shopping catalogue is perfect for managing your cash flow as it allows you to purchase expensive products such as a MacBook Pro but only pay £69.99 for the next 18 months. It is important however, that you do look at the total credit price before making the purchase and are aware that the longer you take to pay off for the product the more you will be charged. Other shopping catalogues such as Littlewoods and Kays offer flexible weekly payment plans to help you spread the cost.
The final option ISME offers to customers wanting to buy with credit is the ‘Buy now pay later’ option which is typically used for purchases such as new furniture or any item over £100. Again, perfect if you need new furniture but don’t have a spare £400 to £500 in the bank and cannot get credit. Currently ISME give allows its customers to buy now and pay nothing until 2013 on any orders over £100. This will allow you plenty of time to save up the amount at your own rate, putting more or less aside every month between now and 2013.
I’ve talked a lot about ISME in this article but you may want to shop around with some of the other shopping catalogues before making any purchases – catalogues such as Premier Man, Home Base or JD Williams.
It’s also worth keeping an eye out for any special offers such as 10% off your first credit order, which many shopping catalogue sites are now offering.
