Pay weekly catalogues such as Littlewoods are UK catalogues that allow customers to pay for the balance of their purchases on a weekly basis. With the shape that the economy is in these days this is something that is very beneficial to quite a few people.
By paying weekly you are giving yourself the chance to be able to have the product you need when you need it without having to pay for it all at once. Instead the balance is broken down into payments that you will be responsible for paying every week.
However, before you decide to shop with one of the pay weekly catalogues you will want to weigh out both the pros and the cons to make sure shopping this way is an ideal match for you.
The pros of paying weekly are going to outweigh the negatives obviously. However, both of them should still be considered. Below we have listed the various advantages of shopping with pay weekly catalogues.
• Increase Your Credit Score: If you are approved for a pay weekly plan through one of the pay weekly catalogues and pay off your balance it is going to help increase your credit rating because this is a form of credit.
• Be Able To Be Approved For Other Credit Opportunities: Once a good rating from the pay weekly catalogue is seen credit report you will find that it will be easier for you to be approved for other forms of credit such as credit cards and loans.
• Avoid Going Into Debt: If you are truly in need of the product that you are trying to pay for weekly you will avoid going into debt since you will not be paying for the product all at once. This allows you to not have to take money away from your other financial obligations.
As with anything else there are going downsides that come along with shopping with pay weekly catalogues. Below you can find the cons of pay weekly catalogues:
• Negative Impact on Your Credit: If for some reason you have to go into default on your payments you are going affect your credit in a negative way.
• Your Are Not The Owner Of The Product Until You Have Paid The Entire Balance: You are going to get to take the product home with you once you are approved by the pay weekly catalogue. However, you are not considered the owner of the item or items until you have paid off the entire balance. If for some reason you do not pay off the entire balance you are going to have to return the product and you will also not be receiving a refund.
Overall, pay weekly catalogues are a brilliant idea. However, you must make all of your payments on time and follow any of the other terms that the catalogue of your choosing may have in place to make sure that your experience is a positive one that affords you other benefits as well.