Coping with a bad credit history can be hard as most financial companies rely heavily on your funds management history to determine your eligibility for certain products and services. However, even with a poor credit score, several stores would still want to do business with you! Catalogue companies offering credit lines in their stores allow you to purchase appliances, furniture, entertainment packages, electronic devices and other items on credit despite that fact that you have suffered from a recent financial downturn. These catalogue companies process your application with no credit checks, and thus whatever history you have will not hold bearing.
There is a limit to such credit lines, though. It is only applicable to goods advertised in their catalogues or available in their stores. You cannot use them in other stores like what you do with other credit lines. Nevertheless, it remains to be one of the best options of someone with bad credit. This will not only allow him to make necessary purchases, it will also help re-build financial standing.
So, where and how can you find catalogues that offer no credit checks? That would be plain easy. You can check the internet and your search, whatever search engine you use, will lead you to hundreds of catalogue companies that will be willing and able to provide you the services that you need. The problem now is on how to choose among these hundreds.
Never limit yourself to a handful of companies. You can read what they have to say in their websites and you can even ask what they can offer after you give them some of your financial details. You will find that many of the ones you contact will send you replies in no time. This may sound easy and fun, but do not take this lightly. Remember that this decision can affect your credit score in the future, so you need to choose which company to apply for very carefully.
Most of these companies will require an application fee. While you need to consider how high their application fees are, you must not completely dwell on it. Research further and check their interest rates, their payment methods, their minimum payments required and other important factors. If you limit yourself to the ones offering the lowest application fees, you may end up paying for high interests later on. Also make sure that their payment schemes are manageable. Else, you end up deeper in debts.
Most individuals with good credit ratings will avoid catalogue companies and catalogue credit cards as they usually charge higher interest rates compared to standard cards. If they ever do, they often pay before the due dates so they don’t have to incur heavy interests or penalties. These higher interests and penalties are understandable due to the elevated risk that the companies incur. Those with bad credit have fewer choices, though. However, they can use this chance to improve credit scores. Once they have successfully done that, their chances of getting approved for standard cards offering lower interests and wider scope become higher.
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