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Bad Credit Catalogues for people with a poor credit rating
A bad Credit rating can be caused for a number of reasons. However a bad credit rating doesn’t mean you can’t enjoy all of the benefits a pay monthly catalogue offers. You can even try one of our No Credit Check guaranteed catalogues
People searching for a bad credit catalogues have usually been declined recently for a Pay monthly catalogue or they have suffered from some kind of credit problem in the past six years.
Examples of a bad credit rating include missing repayments on Credit agreements, making credit repayments late, making too many applications for credit in a short period of time, defaulting on a credit agreement or being issued with a County Court Judgement for non payment of a debt in the past six years.
The good news is, If you can answer Yes to the following four questions, We can help you get accepted for a pay monthly catalogue with credit (up to £2500) even with a bad credit rating.
- You are a UK resident
- You are 18_
- You are not legally banned from taking on credit (IE) You are not bankrupt or in an IVA
- You can afford to make monthly repayments to your Catalogue
If you have answered yes to all of those questions then Your application for a pay monthly catalogue with credit will only be subject to affordability and identity checks.
Once these two checks are completed, your brand new pay monthly catalogue with credit will be opened.
Your catalogue account will have a credit limit of up to £2500.
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Pay monthly Catalogue Credit Checks
In nearly instances Pay Monthly Catalogue companies will carry out several checks when you apply. These will include, Affordability Checks, Identity Checks and a Credit Check.
All of these checks are done in real time as soon as you press the Submit application button. All of these checks are done using Licensed Credit Reference Agencies, your application may also be checked against Fraud agencies as part of the account opening process.
By being registered on the Electoral Register you will increase your chances of success when applying for a pay monthly credit catalogue.
If you are not registered on the Electoral register you may find your application is rejected or in some cases your application for a catalogue with credit may take longer to be processed. You may be asked asked to provide evidence of your residence or other forms of identification if a Catalogue company cannot confirm your identity.
If you would like to get registered on the Electoral register or if you wish to double check you are registered you can contact your local council.
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Pay Monthly Catalogue Credit Scoring
Catalogue companies will use a method called Credit Scoring when you apply for a Credit Catalogue account.
This means they will take all of the information you provided to them in your application and then use it with the information they receive back from Credit Reference agencies.
All of this information will be scored. This will determine if your application is approved or rejected.
Each Catalogue companies Credit scoring policy is totally secret and will vary from Catalogue to Catalogue. Credit Scoring is designed to limit risk and to help them make a decision on how you will run and manage your Catalogue account.
Your income, employment status, Your age and how many applications for credit you have made in the past year will be used to help them score your application.
Details of how you run other Credit agreements with other Credit providers now and in the past six years will be considered when making a decision. If you have had any past dealings with the Catalogue company this may also influence the decision.
Credit Scoring changes on a regular basis. It’s main aim is to predict customers behaviour, spending habits and how they are likely fail into financial problems and default on the Catalogue account.
You could apply for a Pay monthly catalogue today and be rejected only to apply again two months later with the same details and be successful.
Although Credit Scoring is popular with lenders, it’s understandable that Some people find the concept frustrating. Of course, Credit Scoring can occasionally make mistakes, usually when information held on a customers credit report is incorrect.
If you are declined when applying for a Catalogue account and can’t understand why, it’s always worth checking with all three of the Credit reference agencies to see what information they hold.
You can correct any mistakes with the Credit reference agencies.
Credit scoring has been used for many years on a range of financial products like Bank accounts, Credit Cards and Personal Loans. It’s a great tool in predicting wherever a customer is going to be a good or bad risk for the Catalogue, but if you feel your decision is wrong you can appeal the decision, full details on making an appeal and the grounds for doing so are here.
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No Credit Check Pay monthly catalogues
Some people may not be aware about No Credit Check Catalogues.
Although all Home Shopping (Catalogue companies) have a legal requirement to ensure both responsible lending and to confirm the identity of the person applying for credit, there is no requirement to decline someone just because they have had previous credit problems.
There are pay monthly Catalogue companies in the UK offering Credit that will look beyond your Credit history. As long as you are not legally banned from borrowing (such as being bankrupt) you can enjoy a Pay monthly catalogue with credit.
A no credit check catalogue can give you the spending power you deserve. Use it wisely and this could help improve your credit rating.
This catalogue offers a guaranteed Credit limit of up to £2500 and a Guaranteed mobile phone contract to those who are looking to get back on the credit ladder.
The above Catalogues will consider those with very poor credit ratings, so if you have tried the mainstream Catalogues and have been rejected, be sure to check out the above Catalogues who are more likely to accept your application.
The Yes Catalogue operates a catalogue for people with poor credit. Currently the Yes Catalogue is not available, if it reopens we will add the link here.
Deluxe Gold Card Catalogue Account
The Deluxe Gold Catalogue was another poor credit catalogue for people with credit problems, this catalogue is not currently available to new customers.
Choice Freedom Card (catalogue) account
The Choice freedom Catalogue closed in 2017. If this Catalogue does reopen we will add a link here.