Companies will run credit checks when you’re purchasing a high-priced item such as an iPad. If you have bad credit or no credit, this might prevent you from purchasing the product. Apple Inc. offers the RBS Citizen payment loan plan for students and educators. It allows customers to apply for a loan and make monthly payments for a certain period of time before it is paid off. If you have bad credit you can always apply for a credit account with a catalogue and buy the new iPad through that instead. Catalogues have much better acceptance rates and so getting an iPad on credit shouldn’t be a problem.
Applying for a loan
The payment plan allows you to finance purchases starting from £50, but the final amount of monthly payments will be determined on your credit. You are allowed –and encouraged- to have a co-signer on your loan, it increases your chances of having the loan approved. If you cannot obtain a loan through Apple Inc. even with a co-signer, there are still other options. Some companies offer rent-to-own or lease-to-own and do not require any credit checks. You pay the monthly fee over duration of time. Once the payments have been made in a timely fashion, the product is yours to keep. Stores like Littlewoods and Gimmitech offer in store financing on products like the iPad.
Littlewoods offer great deals and finance options including buy now and pay later as well as pay weekly payments. Gimmitech offers credit in the form of applying for a credit card on your behalf and then allowing you to make purchases using that credit card. Both of these retailers will carry out a credit check, however, there are other UK stores such as Brighthouse that instead ask for an initial deposit or even Payweeklystore.co.uk which check your last 3 months worth of bank statements to determine if you can make the payments.