Catalog shopping is the best option for consumers looking to buy now and pay later. Instead of paying for everything upfront, you’ll have the option to make smaller payments over a set period.
This is perfect if you want to make a big purchase. However, to be a successful catalog shopper, you need to be disciplined and remember to make all your repayments on time to avoid paying more.
Understanding Catalogue Credit
Catalog credit is a unique way to make purchases. It offers flexibility when it comes to paying for your goods. Catalogs allow you to make regular weekly or monthly installments for your purchases.
When you shop from a catalog, you often buy through an agent. This person will earn a commission on the purchase. It’s also possible to get your own catalog. There are shopping accounts available for just about everything.
If you’re new to catalog shopping, you may want to shop with some of the well-known companies. Here are some of the most popular:
- Fashion World
- JD Williams
- La Redoute
- Perfect Home
How it Works
The main allure of catalog shopping is being able to buy now and pay later. Most catalogs offer credit to consumers. This lets you make a purchase and pay it off in installments. You may be offered an interest-free grace period to repay, but if you miss a repayment or don’t pay it off in time, interest may be added. Always read the terms before catalog shopping.
All the Costs
The cost of catalog credit depends on the interest rate and terms. You may not pay anything additional if you take advantage of a zero-interest promotion. But, most catalogs have higher interest rates than many credit cards.
You’ll be expected to make regular repayments to remain in good standing. It may take 1-2 years to fully pay off your purchases. Other hidden fees include penalties for late or missed payments.
Advantages of Catalogue Shopping
The main advantage is being able to purchase something you need right away. If you don’t have the full amount for a large purchase, you can buy now and pay later. Many catalogs also offer promotional grace periods, so you could end up saving money.
Disadvantages of Catalogue Shopping
You may be tempted to buy things you don’t really need. If you miss a payment, you’ll get hit with high-interest rates. There may be a cheaper option for you, including a personal loan or credit card.