When you apply for your Pay Monthly Catalogue you will be asked to supply some details. The Catalogue company will use the details you provide and the details of your Credit search to see if they can open a credit account for you.
Your application is subject to three outcomes
Your catalogue application could be approved, declined or referred.
If your Application is approved, you will be informed about your account number, your Credit limit and the APR (interest rate). You can go ahead and place an order anytime once your account is approved.
Sometimes an application needs further checks, this could be because your application has been flagged by the Credit Reference agencies to check against Affordability or to confirm your identity. It could also be because the credit reference agency took too long to reply to the Catalogues request or in some cases, you applied outside of the Credit reference hours of operation (usually applications between midnight and 7am) can be referred.
If your application for a pay monthly catalogue is rejected it could be due to credit scoring. Credit Scoring awards points for the information you supply and the information the Credit reference agencies hold.
Affordability – It could be that the Catalogue company do not feel further credit could be affordable, It could also be because of information held by the Credit reference agencies. You may have late payments, defaults, county court judgements or maybe you have made a lot of applications for credit in a short period.
Either way you can still be accepted for a Pay monthly catalogue by choosing one from our bad credit catalogue section.