Pay Monthly Credit Catalogues
Whether you have your eye on a product that is too expensive to pay for in one go (we’ve all been there), or you would just prefer the convenience of spreading out costs over an extended period of time, pay monthly catalogues may be a good solution.
With a pay monthly catalogue you can:
- Purchase a television, washing machine or sofa
- Invest in a new wardrobe for yourself or family
- Buy something extra special for a loved one
You can get the items you need now, and pay for them in monthly instalments.
This is where the advantage of the pay monthly catalogue comes to the fore. They can be a convenient and affordable way of buying the expensive items you want, without worrying about your bank account taking an immediate big hit.
Shopping catalogues have existed for decades in print form, but many catalogues now have moved online. You can still request a printed version to be sent to your home.
JD Williams Group
How does it work?
The basic idea of a pay monthly catalogue can simply be summarised as “buy now, pay later”. Purchasing an item via this method, means that you get your item now and you spread the cost of it over several instalments. Instalments are typically paid back to the retailer on a monthly basis.
How much will I be charged?
In addition to the cost of the items you buy, you will also be charged interest on your credit account.
The retailers make money on credit accounts by charging you interest with your repayments. The longer you repay for your shopping, the more expensive the items will cost.
The interest figure you will be quoted is known as the APR (Annual Percentage Rate). APR is the annualised figure showing the percentage cost that you are paying for the ability to buy on credit.
How do I apply?
Once you have browsed through the catalogue and found an item that takes your fancy, you apply for credit upon checkout by filling out the application form.
The great thing is that you will quickly find out whether or not you have been approved to buy on credit. Before the internet, the approval process was drawn out because you had to submit a paper application form and wait days to hear back from the company. Now it is either instant or takes less than a couple of hours to get your answer.
You will be informed if you have been approved and the company may send further information containing all the terms and conditions of the finance offered to you. It is important to read through this carefully.
To open a catalogue credit account, you need to be aged 18 years or over and a UK resident. Catalogue companies will perform a credit check before approving your application. This is to assess your ability to pay for your shopping.
How do I repay?
If you have been approved for a credit account with an online retailer, it is often difficult to keep track of what you have bought, payments due and how much interest is payable on each item.
Luckily, companies send out statements every 28 days either online or by post. It is a good idea to study your statement in detail so you know exactly how much is due, when it is due, and what products you are paying for. Your statement may show:
- The percentage interest charged for each product purchased
- Your remaining balance broken down per item
- The minimum amount you must pay to be in line with the specified credit terms
- Exactly which items you have purchased on credit
If you buy an item on your credit account, you have a couple of choices on what to do next:
- You can pay all of the remaining balance by the specified date. If you pay by this date, you will not be charged interest.
- Pay the minimum amount specified on the statement. The retailer charges interest if you choose this option.
If you choose to spread the cost with your credit account it will cost you more than if you pay in full. The longer you take to repay for your items, the more it will cost.
What are the best pay monthly catalogues?
This depends on the specific items you are looking to buy and it also depends on your particular financial situation. You can read through the following choices that we feel are the best under a number of categories.
Argos – Best catalogue for low APR interest
Argos are one of the largest catalogue retailers in Great Britain. You would be hard-pressed to find somebody who has never taken a cursory glance through an Argos catalogue. They have been in business for over 40 years and continue to be successful online and on the high-street.
Not many people are aware of their credit option though. The Argos Credit Card gives buyers the chance to buy now, pay later for a vast array of over 40,000 products from their catalogue.
Key features of the Argos Credit Card:
• Argos offers an impressive 29.9% APR on their buy now, pay later option.
• Your application is approved or rejected within 60 seconds.
• The possibility to increase your credit limit with every five months by £3,500.
• Manageable credit limit of between £150 and £1,000 ensuring you won’t get carried away with your spending.
• Pay nothing for the first six months on purchases over £100.
You can manage your credit account online with Argos. This allows you to check your statements daily and pay back some of the money you owe by debit card or direct debit.
The affordable APR combined and extensive selection of products to choose from makes Argos an excellent retailer for anybody looking to delve into the buy now, pay later option.
The Brilliant Gift Shop – Best catalogue for gifts
This store lives up to its name, with hundreds of impressive gift choices that will make your loved ones feel that extra bit special.
The Brilliant Gift Shop stocks products from fashionable watches to baking gifts and everything in between. All items are grouped into handy categories and the website also features an intuitive search feature to find exactly what you are looking for.
There are regular discounts and exclusive products online and they update their promotions frequently.
There are 20,000 unique gifts available on the website and over 600 personalized options to give that added touch of individuality with each gift. The range of options coupled with the try before you buy service means that The Brilliant Gift Shop is hard to beat when choosing the perfect present for your loved ones.
Fashion World – Best catalogue for ladies fashion
Fashion World is a great choice for ladies who are looking to update their wardrobe. They offer a stylish selection of clothes ranging between sizes 12-32 and you can purchase on credit from their catalogue.
Their clothing range caters for all seasons and occasions, making it a good choice to find the perfect outfit and look fabulous.
They are up-to-date with the latest fashion trends and they stock impressive collections from big fashion names such as Grazia and AX Paris.
Their lingerie range is also impressive catering for ladies looking for comfort or something a little more revealing. Their clothes are affordable and stylish, making them our number one choice for women’s fashion catalogues.
Jacamo – Best catalogue for men’s fashion
Jacamo is a top notch candidate for gentlemen looking for stylish new clothes. Their credit catalogue features an extensive range of bold and unique clothes that ensure any man will stand out from the crowd in a good way.
They stock well-known menswear brands from French Connection to Joe Browns all ranging in sizes from S all the way up to 6XL.
Their collections are modern and trendy with an emphasis on clothes that fit your body well. Whether you need to get suited up for an important occasion or you are searching for something casual but stylish, Jacamo’s range makes any man look well-dressed.
The range of sizes available, coupled with the stylish clothing makes Jacamo the number one choice for a pay monthly option on menswear.
Homebuy – Best for a poor credit rating
Let’s face it, not everybody has a perfect credit rating. The cost of running a household in the modern age increases with every passing year and sometimes repayments can get on top of us, affecting our credit rating.
If you have a bad credit history, fret not, because Homebuy is a fantastic option for the budget conscious consumer who wants to upgrade their home.
The Homebuy catalogue features an extensive array of home furnishing options including luxurious leather suites and some of the most comfortable beds you will ever sleep in. They also stock a brilliant selection of home appliances including dishwashers and tumble dryers.
Homebuy offers customers an economical way of purchasing household goods with their hire purchase plan. Hire purchase means buying on credit, but not owning the goods until all repayments are made. Here are some features of the Homebuy credit option:
• All customers are welcome to apply, even if they have previously been refused credit.
• No deposit needed
• Pay in monthly or weekly instalments
There are many retailers who will flat out refuse customers with a poor credit rating, but Homebuy are fair and transparent and their responsible lending charter means arranging finance is hassle-free.
The range of home improvement items available means it is perfect for those of you who want to upgrade your home and give it that extra bit of panache.