During this time of global lockdown due to the Coronavirus outbreak, the way we do our home shopping has completely changed.
Since people around the world were asked to stay home as much as possible, everybody turned to online shopping to buy groceries, clothes, medicine, and pretty much everything else. However, due to the uncertainty of if/when life will ever go back to normal, there has been an economic strain that cost millions of people their jobs. This means that their bad credit scores are just an inevitable consequence that they will have to accept and live with.
Like the case with loans and mortgages, your poor credit score will also affect your chances of getting accepted for the home shopping catalogs that you were always keen on having. These catalogs that usually allow you to buy now and pay later are probably even more important to you these days. So, continue reading to find out what your chances of getting accepted for a home shopping catalog are.
The Better Your Credit Score, the More are Your Chances of Being Accepted
When you are first applying for a home shopping catalog, you will be required to pass a credit check as proof that you have a good financial standing and will not default on your payments. So, naturally, the better your credit score, the better your chances are of getting accepted.
However, for those who have relatively poor credit scores, there are special home shopping catalog companies out there who would be willing to take you on regardless of your below-average credit score. If you live in the UK, the experts of www.cataloguesforbadcredit.co.uk recommend doing some research to find out your options. You will find plenty of well-curated lists that show the pros and cons of each catalog store as well as a brief explanation on how you can become a customer of each. So, while your good credit score can increase your chances in general, if you find the right stores, your poor credit score will not harm your chances, nonetheless.
Buy Now Pay Later Catalogs are Worth Considering
As previously mentioned, some of the home shopping catalog stores follow a buy-now-pay-later approach, which means that you do not even need to pay any money upfront before you can start shopping. This feature makes it more tempting to apply as you will be more likely to get accepted to receive a home shopping catalog from these retailers. Usually, the deferment period ranges anywhere from 3 to 12 months before you are required to pay for your purchases. However, it is important to note that this generous offer comes at a higher price. Given the higher risk these catalog companies will be taking on their customers, they tend to have stricter credit score measures in an attempt to keep chances of payment-faltering at a minimum low. So, if your credit score is still intact, you should definitely seek buy-now-pay-later catalog stores to increase your acceptance chances for home shopping catalogs.
Find Catalogs that Account for Your Potential Credit Future
Like some people nowadays, even though you might be going through a temporary financial hurdle, against all odds, things are starting to look up for you. Some home shopping catalog companies understand this fact and are more interested in your potential credit instead of your current one. Those are the catalog stores that you should be looking for to guarantee getting accepted as a customer. You will probably be put through an introductory trial period before you can unlock the full list of benefits, just to verify that you are a good customer and can commit to your payments. Once that box is ticked, you will be able to enjoy all the privileges of an authentic customer.
Forget About Catalogs in the Same Group as Ones That Previously Rejected You
Catalog stores that are members of the same group are usually interconnected and share the same customers’ database. If you have been rejected by a catalog company before, your chances of being accepted by another under the same group are almost none. So, do not waste your time applying with the same group and wondering why your applications aren’t going through. Save yourself the frustration and focus on finding other catalog companies that you do not have any prior history with. You can easily identify companies that are members of the same group by doing some online searching.
While some think that home shopping catalogs are a thing of the past, the fact that they are still thriving is a good enough proof that this isn’t true. As you can probably see by now, there are even more lenient conditions that will suit your current financial situation. All you have to do is find the right company and apply for a catalog, so you can resume your home shopping like you always did.