Bad credit can make shopping difficult. Often you can’t get a loan for the things you want or you can’t afford them. Luckily, there are catalogues for people with bad credit, which allow you to make monthly payments on your purchases, regardless of your credit. Best of all, doing so can actually help to improve your credit score.
Your credit score is a number 300 through 850 that is assigned to you based on a number of different factors including how often you borrow money, how timely you are in paying it back, and the kinds of debts you have acquired. Lenders use this number to determine how much of a risk you may be. A score of 675 or below is considered bad and can often deter lenders from giving you the money you need. Bad credit can make it difficult for you to go to school, buy a house or a car, or get a loan.
Buy now pay later catalogues for people with bad credit work on a monthly payment system by which you set up an account through the website and make your payments directly to them. Your monthly statement will include, among other things, your purchases thus far, your outstanding balance, how much you have already paid, the payment due date, the minimum amount due that payment cycle. Some bad credit catalogues charge considerable interest, but not all. And in any case, you can keep the interest down by making timely payments of whichever amount you and the catalogue determine to be appropriate for your credit situation. Best of all, you can shop with them even if you have bad credit.
Shopping with bad credit catalogues can help improve your credit rating by making it easy for you to pay off your balance in a timely manner. Since the payment plan is negotiated based on what you can afford, you can select a payment plan and/or a monthly payment amount that works for you. In some cases, you don’t even have to begin paying off the balance for several months. Some catalogues allow you to spread the cost out over a number of years. The timeliness of your payments and how long it takes you to pay off the balance will contribute to your credit score. So if you have bad credit and you shop through one of these buy now pay later catalogues, this will become one of the factors that determines your credit score, and because you have determined how and when you will pay off the balance of your purchases, this is one factor that you can control. It makes you more attractive to lenders, which makes it easier for you to get the money you need—a cycle that can be improved by smart shopping, through bad credit catalogues.
There is a wide range of these catalogues. Take a look and see if you can come up with a payment plan to fit your budget. Let pay monthly and pay weekly catalogues help you to improve your credit.
Applying for a mobile phone contract
Most people who have bad credit find that getting approved for a mobile phone contract can be quite difficult as most networks are unwilling to offer a high end phone model to someone who is unlikely to make the payments on it. In order to improve your chances of being accepted you are best to apply for a lower end model with a much lower monthly rate. It is important to understand that there are no guaranteed mobiles as every retailer will always credit check you. However, if you follow this guide and opt for the lowest monthly rate contract you could then, after a few months of on-time payments, apply for an upgrade. In most cases, the network will be happy to comply as you have proven to them directly that you are a good customer and they will, to a degree, ignore your credit rating.