Catalogue company loans

welf_man

Does anyone know how easy / hard these are to get? Does it make a difference if you already have accounts with the company? And do they use the same CRA as for a credit account?

I know the rates are potentially high - but the low end of the range is still lower than some more mainstream companies. Having worked out my total minimum payments on everything, and not being able to guarantee increasing them in future, it would still be cheaper to take out a 5-year loan if I can get less than 20%.

The issue has arisen because maintenance has reduced as ex changed his job, but a salary increment has taken me out of HB and free school meals - perfect!

Thanks for any info -

Mel.

jonesMUFCforever

Have you exhausted other avenues such as your main bank?
I would be trying them first as they should be able to tell you whether you are eligible for a loan without 'wasting' a credit search.

welf_man

They wouldn't consider it 6 months ago when I had a review, and I had more disposable income then. They would probably also want me to use part of it to pay off my overdraft, which I don't really want to have to do as it's my cheapest borrowing.

Thanks, though.

Mel.

debtdestroyer007

i dont think catalogue companies do loans themselves, most that i know from SHOP DIRECT GROUP do in partnership with the bank of scotland/halifax.

so i guess they use HBOS scoring models.

from personal experience, HBOS are hard to get a loan with.

PNPSUKNET

hbos are very hard to lend from even their credit cards are these days