Pay monthly stores are a great opportunity to afford those things that a credit-free market structure would not offer you. For those that don’t have the luxury to pay in a lump sum for their desires, pay monthly plans are nothing less than knights in shining armours. However, like all good things, pay monthly shopping comes with a need to plan wisely so that you make the most of your credit agreement.
The What’s What and Who’s Who of Pay Monthly Shopping
Before your indulge in shopping on credit, you should read the fine print and the policies that you will have to abide by under your credit agreement. All stores that offer pay monthly plans, like Gimmitech or Argos, have their own set of terms and conditions. The common features that you need to check are:
- Requirements for approval of credit
- Minimum monthly payment
- Interest-free period, if any
- Interest and APR
- Missed and late payment penalties
Pay monthly options are no longer the domain of small retailers that you would shudder to trust. With big names like Littlewoods in the pay monthly market, you benefit from security, reliability and consistency. You can be assured that your personal information is safe, that your account will be tracked accurately and that you will get sufficient assistance for your queries. You can also enjoy free delivery and returns at several pay monthly stores.
Benefits of paying monthly
Most pay monthly stores provide very generous deals, with attractively low monthly payments. At Gimmitech, for example, you could buy a Samsung Galaxy Tab costing £249.99 at monthly payments of around £11-£14, with an annual interest of 39.94%.
Furthermore, showing a consistent payment record reduces your minimum payment, increases your credit limit and boosts your overall credit score.