For many of us, laptops are an essential part of everyday life. They can however be expensive and not many of us are able to pay the full price in one go. Many of us would like to buy a laptop on credit but are prevented from doing so. The reason? It’s because many high street stores such as Currys or Comet require a full credit check. Purchasing through a catalogue can be a useful way around this problem.
Why do some stores insist on credit checks? Well, when you think about it, each customer applying for finance is going to tell the store in question that there will be no problem with making repayments. How does the store know that this is likely to be the case? The answer is, through a credit check. By looking at the potential customer’s past history of meeting loan obligations, the store can get a picture of how reliable the customer is likely to be. Providing there’s no problem with the credit check, the store will offer credit; with monthly payment schemes being the most popular repayment options.
What if you don’t have perfect credit? If you fail a credit check, it’s not the end of the world. If there’s a very good reason why your credit is in the state it’s in but if that reason’s not going to prevent you from meeting your obligations, then explain this to the store. Other alternatives are to offer to pay a higher deposit to show good faith. You may even want to try to get a co-signatory to the finance agreement.
Catalogue stores are another option. Many offer finance without a full credit check – providing they are satisfied that you will be able to make your payments. Overall therefore, a bad credit score is not necessarily going to stop you getting finance to buy a new laptop.