Credit catalogues in the UK are an essential part of the lives of the working poor. Very few people in the UK in the current economic climate have the ability to buy outright expensive consumer products such as washing machines, sofas and fridge freezers.
Instant credit catalogues exist to help the working poor spread the payments for those essential items to suit their financial situation. Items such as washing machines that are an integral part of a daily routine can be exceptionally expensive. Many working poor have not got a hope of buying off such an item that costs several hundred pounds all in one go.
Instant credit catalogues can be expensive
By spreading the payments over a period of months or years makes it more palatale. Companies that specialize in instant credit catalogues include J.D. Williams.
Companies that exist as a physical entitiy rather than online include Bright House. Brighthouse is a well known instant credit catalogue company. It specializes in weekly payment schedules.
The problem with instant credit catalogues is the fact that they are expensive. For example, if you buy a washing machine with cash the price may be 500 pounds. Unfortunately if you choose to spread the payments over a series of months, the full purchase price of the washing machine may work out at half as much again in accrued interest payments.
For those that do not have the discipline to make their payments in a timely manner then credit catalogues are probably not the right option for you. Credit providers charge very high fees for late repayments which can really eat into the overall cost of buying the consumer product to such an extent that it just seems crazy that anyone would consider buying such a product on credit compared to paying cash for such a product in the first place.
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