Catalogue companies credit checks

By: Credit 4 Everyone0 comments

When you have entered all the information asked, the Catalogue company will perform a Credit Check. Usually the Credit check will only take about 30 seconds to complete and usually an instant decision will be provided to you.

How Catalogues with Credit make their decision – Credit Scoring

Catalogue companies will credit score your applications when you apply for credit with them. Credit Scoring is a formula which awards points for bits of information from the Application for you complete as well as information the Credit Reference agency provides to them.

All of these points are added together and will help the Catalogue make an instant decision. If you score enough points, your application for a Credit account with your Catalogue will be approved, if you don’t score enough points your application will usually be declined.

Credit scoring is common for all types of lending, from Credit Cards through to Personal Loans. It’s been around years and helps lenders make a fast decision.

I’ve been rejected for a Catalogue…

Credit Scoring is not based upon one piece of information. Credit Scoring does not Score your Sex or Religion.  The Catalogue company will score literally hundreds of different pieces on information it gathers and it is used to predict account conduct and risk.

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Catalogue Application Rejected because of Credit Scoring

Credit Scoring will vary from Catalogue to Catalogue. So if one Catalogue Company rejects your application for a Home Shopping account (catalogue) , it does not mean that will be the same outcome with another Catalogue. So if Look again rejects your application, it doesn’t mean JD Williams would.

Each Catalogue has different requirements.

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