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Buy Now Pay Later - No Credit Check

By Edited Oct 5, 2015 3 3

Many retailers are offering buy now pay later with no credit check options for their consumers. With some, you can order through catalogs, while others will allow you to get the merchandise online, through their websites. Of course, there are some drawbacks to catalogs and sites like these. Let's take a quick look at some of the things you can expect with buy now pay later, no credit check sales, and some things you will want to be cautious of, so you don't make a financial mistake.

How does this work?

Buy now pay later, no credit check catalogs and sites work very similar to a revolving account. On most sites and catalogs you will need to be approved to purchase the items, but some will not look at your score ahead of time. For the catalogs and sites that will not take your score into consideration, you can expect to pay a little higher rate of interest, but it is going to vary quite a bit by seller. Be sure to look at the fine print very carefully for each catalog or site before you order. Yes, interest is required with most buy now pay later, no credit check sellers.

Generally speaking, most buy now pay later, no credit check catalogs and sites will require you to begin to make payments within 90 days of your purchase. Of course, you can choose to wipe off the entire purchase, or you can make monthly payments, just like revolving accounts. If you choose to only make the minimum payments, you can expect to put out much more in interest and fees, just as you would with revolving accounts. They really are quite similar to each other. Just keep this in mind as you look at buy now pay later, no credit check sellers. Just because you can order the items in their catalogs, doesn't necessarily mean it's a good idea.

Is there a catch?

Sometimes buy now pay later, no credit check catalog sellers, along with those selling online, will require you to actually open up a new revolving account. This means you will have something quite similar to a Visa or American Express, but it will only work for the specific site or catalog, and generally no place else. This might be okay with many consumers, but before you sign the dotted line with any buy now pay later, no credit check vendor, you may want to consider a few things, to make sure you are getting the best deal possible. Nobody wants to overpay these days, so it makes sense to look at the fine print carefully.

Interest rates: Be sure to look at this out very carefully for all buy now pay later, no credit check online shopping sites and catalogs. You may end up paying a much higher rate of interest than you realize when online shopping. In fact, it's entirely possible to get charged a greater rate of interest with buy now pay later, no credit check online shopping sites and catalogs, than you would with a Visa or other revolving account. If this is the case, it may be best to look at a new catalog or online shopping site. If you do find this to be true, simply use your card to pay, since it will save you money in the long run. This is one of the things you must really watch out for when you use buy now pay later, no credit check sellers.

Hidden fees: There's a good chance your buy now pay later, no credit check catalogs or vendors have a few hidden fees. You will want to look carefully at all late fees and penalties associated with the online shopping site, as well as annual service charges and fees. Some will charge you up to $99 per year just to place orders with them, or hold an account with them. Just use appropriate caution. These fees would be in addition to shipping and processing charges, which are sometimes inflated with buy now pay later, no credit check sellers.

Junk mail: You can expect many online buy now pay later, no credit check sellers to sell your information to other vendors. You can expect to get plenty of junk mail and spam as a result. While you should expect to provide your personal information to these online sellers, you certainly should expect them to respect your privacy. Be sure to look at this out when online shopping, or shopping by catalog with buy now pay later, no credit check sellers.

Catalogs or online shopping?

You may be able to get both in the world of buy now pay later, no credit check vendors. Since many catalog seller have their own website, there's a great chance you will have both options. Many of the catalogs sent to consumers will arrive in the mail. Once you order from one, there's a good chance you will continue to receive buy now pay later, no credit check fliers down the road.

Big box retailers are even participating:

Online shoppers may want to look at the larger department store sites, just as they would when online shopping for any items, to see if they have buy now pay later, no credit check options available. With the poor economy and slumping sales, many sellers are allowing these types of sales, even if they are simply promotional. You will be quite surprised, just as I was, at how many big box retailers are accepting buy now pay later, no credit check sales for online shoppers. If you have a favorite, be sure to take a good look.

Keep in mind, as mentioned earlier, that some buy now pay later, no credit check online shopping sites may require you to sign up for an account. This is especially true with big box retailers. You may need to sign up for an account to get approved to purchase from some of these buy now pay later, no credit check online shopping sites and catalogs.

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Comments

Jan 29, 2010 6:38am
JHKersey
Excellent information on buy now pay later, no credit check buying.
Jul 10, 2010 10:15am
x3xsolxdierx3x
Yet another great article, Jason :) It's kind of cool seeing my username attached to every one of your articles...lol
Aug 13, 2011 12:32pm
Ulalume
I find that some buy now pay later programs end up sucking in people who really should not be making purchases with credit at all. Of course, this is not really the responsibility of the companies allowing people to make these purchases; but rather the responsibility of the customer. With that said, there does appear to be some questionable ethics behind this business practice; because buying without a credit check would seem to be catering directly to these relatively poor individuals. Maybe I'm wrong, though. I am not an expert at these sorts of financial things. Maybe you could enlighten me with your view some more?
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