A recent move may have left your new location empty and needing tables and chairs, but you may not have the money to purchase these products outright, which means buy now pay later furniture catalogs and sites may be of benefit for you.
These merchants allow you to buy now and pay later, which can allow you to get the furniture you need and work out a payment plan. This can be a value if you don’t have much credit history, too. A young man or woman moving out of their parents house can use these type of programs to order now and learn responsibility to pay the money back.
In this article, we’ll look at these deferred payment plans and merchants that offer choose and charge programs, including Seventh Avenue, Fingerhut, Midnight Velvet, Through the Country Door, Honey Creek Marketplace, Monroe & Main, Grandpointe, along with many others.
How do buy now pay later furniture sites and catalogs work?
With a shop today catalog, you make your purchase and setup a monthly payment plan to get the balance paid off.
When money is short, especially during a move, this can be a good alternative to shopping for furniture outright.
Each merchant has a different policy, but one thing will be common: You will need to make a monthly installment. The installment amount will depend on how much your new sofa or dining room table costs.
Merchants such as Seventh Avenue have a minimum $20 monthly payment.
You may find that deferred billing does accrue a finance charge. This charge is a way for the merchant to afford shop now pay plans. You may also find that there are associated fees.
Before making your purchase, it is important to read the terms and conditions, which will have the fine print.
All in all, though, buy now pay later furniture catalogs do allow you to get the needed chairs and paintings for you new home.
‘My credit score is very bad. Will a buy now pay later furniture store check my history?’
Many merchants do a soft credit pull. This pre-approval process is to make sure that the company will have a good customer who will pay the bill. Unlike you, some people just want to game and abuse the system.
Other merchants will do a hard pull, which will ding your credit score slightly. It might be good to avoid these.
A good example is Sears, which does a fairly extensive check. You may not qualify if you have very bad credit, but you could try.
You’ll never know if you will get accepted unless you try.
Does a shop now pay plan merchant credit report?
Generally, a online shopping buy now pay later site will not credit report. There are exceptions, which we’ll get to.
You could write to the online shopping merchant and ask them to report your good payments to the credit bureaus — a tactic that could help you increase your credit score.
Merchants will report you to the credit bureaus if you don’t make the monthly payments, though.
Choose and charge tips
Because you will be credit reported if you don’t pay, it’s imperative that you don’t use a choose and charge catalog if you can’t afford to make the monthly payments.
Your credit score will go from good to bad fast.
You also want to be financially responsible. It’s one thing to order, get laid off from work and realize you won’t be able to make the payments. It’s entirely different for you to order with no intention of making payments.
Being responsible is important. Before all these mass merchants and big corporations, sellers were just simply one-man stores.
These locally owned locations would extend credit to people in town that they trusted.
Shop now pay later catalogs work on the same idea: Extend credit to folks who are good for it and will pay it back.
The easy way to order from choose and charge catalogs
Buying from a merchant that offers choose and charge is easy. You can click on the products you want to purchase, add them to your online shopping card, and select the order now pay later option.
The merchant will want to get a little more information from you as well; this will include billing and shipping information.
You’ll also need to read through the terms and conditions and agree to them. It is a good idea to read though the fine print here, so you know what you’re agreeing to.
Confirming your order will then send it to a queue that will be waiting approval before shipping.
Site and catalogs that offer buy now pay later furniture can be useful if you are short of money or don’t have a credit card.