Affordable Weekly Payment Stores -
Weekly payment stores allow you to buy fridge freezers, washing machines, cookers, sofas, hi-fis, laptop computers, and TVs on store credit with bad credit.
The banks may have tightened their lending criteria, but weekly payment stores continue to extend customers store credit with bad credit or no credit history. When you need to buy a new washing machine, cooker, sofa, laptop computer, or television you can spread the repayments over a defined term.Buy now pay later stores don't guarantee credit, but you're extremely likely to be approved if you're able to comply with a basic set of eligibility criteria. You won't need to provide a deposit or have good credit, but this will be reflected in the rate of interest you'll have to pay.
Cost of Store Credit with Bad Credit from Brighthouse GroupRates are subject to status, but the typical rate of APR is a very competitive 29.9%. This compares extremely favourably to the rate of interest charged by other poor credit lenders. For example, a doorstep cash loan from Provident Personal Credit for £500 has a rate of APR of 272.2%. Payday and pawnbroker advances aren't suitable for buying furniture or electrical goods due to their 30-day maximum duration and usury rate of interest.
Eligibility Criteria for Weekly Payment StoresYou'll need to bring along proof of income, two personal references, and a copy of your home and contents insurance policy. Your referees will be contacted by the customer services team.Your income will need to be paid directly into your checking account. If you don't have one due to past credit problems, you're entitled to open a basic bank account. You'll be expected to provide a direct debit and all payments must come out of an account that is registered in your own name.It doesn't matter if you're employed, self-employed, or unemployed and claiming state benefits. You just need to demonstrate that the repayments are affordable to you.
Price Examples & Credit Information from Buy Now Pay Later StoresYou can buy a Samsung 46" LED television set for a cash price of £1478.11. Alternatively, you could spread the repayments over three years and pay just £13.64 per week.An Acer Platinum 17.3" laptop computer will cost you £737.13. Should you wish, you can pay for your new laptop over two years at £9.08 per week. No deposit is needed on your purchase.A 60cm Beko double oven in white can be purchased for a competitive price of just £407.45. If you don't have the cash, you can pay the money back over three years at £3.76 per week.A Carla three-seat leather sofa will cost you £814.91. Spread the repayments over three years at £7.52 per week. You'll repay a total of £1466.40 over the duration of the agreement.* The above prices are taken from Brighthouse.co.uk.
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Should You Borrow Money from Stores That Offer Credit?Weekly payment stores offer store credit with bad credit to those who've been rejected elsewhere. If you have an urgent need for new furniture or electrical goods and the bank isn't prepared to assist you, this is a viable option. As an alternative, you could apply for a DSS crisis loan, but the eligibility criteria are extremely strict. Never borrow cash or enter a hire purchase agreement when you're likely to experience difficulty making the repayments.