What is credit catalogue?
Credit catalogue refers to spreading the cost by the concept of show now pay later scheme of some companies. It’s also known as buy now and pay later, pay weekly/pay monthly, spread the cost accounts or buying on finance and several options are available at http://creditcatalogueguide.co.uk/.It is said that you can manage your income with credit catalogues if done right. In this modern world, I’m pretty sure we’re all familiar with these.
The benefits of using credit catalogue for managing your income:
- It allows you to spread your expenses with low payments monthly – There’s this item and you’d really like to purchase but you don’t have the cash on hand right now, get it through credit catalogues! Whether it’s a new gadget, clothes or any item, it would be something that you’d prefer to hold on your hands right now than later. Goodbye to those days of waiting until you receive your paycheck, now it’s easier to manage your finances thanks to credit catalogues.
- Picking terms – you have the power to pick the terms that will apply to you. Longer months, lesser payment monthly. It wouldn’t be that heavy on your pocket when bills are finally delivered to your home.
- Keeps you updated with the latest trends – Some stuff are easily replaced with bigger, cooler and high tech ones so it’s not a surprise to find another one of type of thing every month so perhaps it’s not bad to get on credit first before it goes out of stack. With credit catalogues, you can do so and as we said, you pay later.
- The credit limits – With some credit catalogues at http://creditcatalogueguide.co.uk/ you can set the credit limits as well and it is granted by your employer or as approved by the bank you are connected in or the company sponsoring the use of credit, having credit limits sets boundaries of how much value you can swipe up to the last cent. Credit limits are good for shopaholics because it encourages them to refrain for overspending and for wise buyers, they can use if for emergency especially if the approved amount is bigger.
- Discounts and Freebies – Especially for long time members, some companies gives you discounts and freebies or rebates for debit cards. This is unbeknownst to long time users of credit cards that are why many prefer using type of cards like these. During holiday season, they also offer longer terms of payment the following year as reward to their consumers.
How do you pay?
Every month you shall receive a bank statement stating the transactions you have made in the past. You have two options for repayment:
1) Pay your items in full using credit or debit card.
2) Spread the cost of items through credit account (cheque or bank transfer).
How much will you pay?
It all depends on the company but nowadays, I don’t think they go higher than 5% on interest per month.
Although this is ideal for modern shoppers, managing credit catalogues for your finances can also bring you headache. If you can’t manage or religiously pay for your expenses every, it’s better to lay off on this for sometime before you finally to get one or apply for one. Because unlike money you can borrow from friend which you can go along without paying for a long time, credit card companies have their limits as well. This may lead to court actions and legal practitioners getting involved especially if you are already in great amount of debt. However, if you think it’s feasible and it works for you, then get one. There’s nothing more pleasurable than getting the items that you like on hand now.