If you have been into a recent financial mess and have not heard of bad credit catalogues before, then it’s probably time to discover the advantages offered by these catalogues as well as catalogue credit cards. The main thing that makes catalogue credit cards unique and in-demand is that despite a bad credit history, you are almost guaranteed of approval and high credit limits. Even if the initial credit limit is already high compared to other products offered to people with low credit scores, most companies grant regular credit line increases as you continue to purchase from their stores and issued catalogues and to avail of their different promotions.
This is a real find for people with low credit scores. A poor score implies that you impose a higher risk to creditors and most will not grant you a loan or will not allow you to purchase on credit. Since it would be difficult to obtain a standard credit card with bad credit, the options left will be getting unsecured credit cards or prepaid credit cards. Unsecured cards usually offer limits that are too low that it really does not make any significant contribution to one’s finances while prepaid cards only match the amount that you have added to your account.
Since there are already a lot of catalogue companies in the UK offering good and not-so-good deals, you need to make sure that you apply to the right one. Unlike traditional cards that you can use in almost all stores in the UK, catalogue credit cards can only be used to purchase items from the issuing company’s store or website. As such, you should consider how wide their selection of goods and services are and how their prices compare to other companies. You should also consider how they have been offering help to customers who want to improve their credit scores. Make sure that you read all the stipulations in their Terms and Conditions, including the fine prints, to ensure that you are not getting yourself into something undesirable. Other companies have been reported to add a few hidden costs here and there, and the customer is left confused on how his debts have multiplied rather quickly.
Never take this as an opportunity to buy whatever item you want to buy without thinking if you really need them. This will only blow your debts in unmanageable proportions. Instead, use this as an opportunity to show standard creditors that you have been managing your finances more carefully and more responsibly now. Work on adding positive points to counteract your bad credit history. Your goal is not simply to get by, but to improve your credit standing until such time that you can avail of standard credit cards that you can use in many other different stores. Availing of catalogue cards with high limits will better help you re-establish your reputation in the financial market compared to how an unsecured card with a low limit can.
As you enter the world of better opportunities presented by bad credit catalogues, remember not to rush into things. Learn from past mistakes and make sure that you manage your finances much better this time around.
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