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Benefits & Negatives of Online Credit Shopping

There are a number of benefits when purchasing items on finance online, including competitive prices, fast shipping and the ability to spread your repayments over a prolonged period of time. Although purchasing items online has become increasingly popular in the last few years, some people still prefer to shop on the high street, especially when trying an item before they make a purchase.

Here are some of the benefits and negatives of online credit shopping.

Shipping

When purchasing an item online, you will be able to take advantage of cheap and fast shipping, and can choose from a wide range of items including clothing, home electrical's, consumer electronics, toys and gifts. When purchasing items on the web, you won't be able to try the item beforehand, which can make it difficult when purchasing clothing items either for yourself or as a gift.

However, many companies provide a sizing chart and other relevant information which can assist with your purchase. Items are delivered directly to your door, ideal if you have an upcoming function to attend or need a gift for a friend or loved one.

Credit Options

When ordering an item on finance, you will be able to spread the cost over a longer period of time. Some catalogue companies such as Next and Homebuy will allow you to pay a minimum payment every month once you have received your monthly statement, which will outline any purchases you have made in the billing period and the total amount of credit you have available to you. Credit provided subject to successful credit and affordability checks.

Applying for a new credit account is simple and straight-forward, and you will only need to provide some information in order to further your application. Sometimes a company may require you to provide some additional documentation to verify your identity or address, such as a driving license, passport, or utility bill. You will also be able to control your finances by logging into your online account, which can make it easier to budget your repayments. Remember though, no store offers guaranteed acceptance so even if you're credit rating is perfect do not assume you will automatically be approved.

Returns

Unlike shopping on the high street, it can sometimes be more difficult if you need to return an item. However, many catalogue companies will provide you with all the details on how to return an item once you have opened a new credit account with them. If you are not satisfied with an item, or want to return a product because it has arrived damaged or faulty in the post, you will be able to return the item to the company in the post.