You have several options to choose from while buying Electronic goods like washing machines online. Not just in terms of variety and prices but also time taken for delivery, means of paying etc. Many catalogues give the option of buying products on a weekly or monthly installment basis.
Buy-as-you-view catalogue’s products can be bought in as many as 150 weekly installments; credit is taken on all purchases. Even Dial a TV runs on the ‘pay a little bit at a time’ policy, allowing buyers to pay over an extended period of time. Washing machines from the Argos catalogue can be purchased using any of their available credit plans with an Argos Card. Appliances Online also rates its washing machines and gives information about annual energy and water consumption. They also challenge a price match against all their competitor websites.
A credit check is a detailed analysis conducted by a credit reporting agency. A prospective lender uses a credit check to ascertain whether or not a person is creditworthy. While conducting a credit check, the credit bureaus collect reports from creditors and make a documented payment history including details like timely payments or debts due.
Purchases on installments are sometimes refused on the grounds of unsatisfactory credit check results; which may have portrayed a person as incapable of paying on time. If you don’t want a credit check, you are usually asked to pay an initial deposit. A high number of credit checks made in connection with loan applications will paint a bad picture in your credit report. To improve your chances of being able to make purchases on installments; you should not have too many loan application related credit checks in your report.
When a creditor feels that he can’t collect the debt from you, he may report it as his loss in his accounts; this is called Credit charge off. If Credit charge offs crop up in your credit check, you may not be able to make a purchase. The best way out is to negotiate with the credit reporting agency and get the charge-off removed from your credit check report after you have made the full payment due.