What Are Bad Credit Catalogues?

bad credit

There are many people around the world who are forced to live with a bad credit rating. A credit rating is a very important part of someone’s ability to live in the modern world. Someone’s credit rating will determine their access to important parts of life, such as housing, vehicles, education and credit cards, as well as the rate of interest that they will be obliged to pay. A credit rating can even influence a person’s relationship with utility and phone companies, and the terms that they will be required to accept to use these services.

However, there is one option available for people with a poor credit rating who want to purchase consumer goods from catalogues. These bad credit catalogues offer payment structures that allow people with a bad credit rating to still purchase the latest in consumer goods.

What Do Bad Credit Catalogues Offer?

Bad credit catalogues are a great resource for people who are suffering with a bad credit history from experiencing periods of financial difficulty. These catalogues give people access to consumer goods like electronics, entertainment devices, furniture, home appliances, the latest fashions, and much more. The catalogues offer to sell these goods to the consumer on a credit line, so that the buyer does not need to make the full payment for the good upfront. These catalogues will extend credit for purchases without a credit check, which means people with poor credit ratings will not be denied a credit line outright.

However, they do carry higher rates of interest and the loans are set to be repaid over a short period of time. Also, a failure to make payments will still negatively impact a credit rating, even if no check is required to get the credit line.

What Are the Requirements?

Even if bad credit catalogues do not do a credit check, there are still some requirements that a person must meet before they are eligible to receive a credit line for purchasing goods. Bad credit catalogues require that the buyer has a stable income that passes a certain threshold and a verified bank account. They also require that proofs of income, identity and residency are furnished. However, if someone manages to meet these simple requirements, then there are no other barriers to having a line of credit extended. It is a simple and quick procedure, and people with steady jobs have no trouble getting access to the latest consumer goods from bad credit catalogues.

What Are the Credit Limits?

Most bad credit catalogues will start off with a low credit limit, but this can be increased over time with a good record of on-time payments and the regular use of the service. Bad credit catalogues also represent an excellent opportunity for people with a poor credit rating to rebuild their credit rating with a history of timely payments.

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