What is Buy Now Pay Later

Buy now pay later is an option for customers allowing them to purchase items right now, usually online for home delivery, then pay for them after a deferred period which can be anywhere from 28 days to 12 months. In some cases such as when buying furniture on finance you can have up to 3 years to buy now and pay later. Catalogue companies use this payment option across the board to attract customers, for instance the Littlewoods catalogue buy now pay later option allows customers to purchase items from the catalogue without having to pay anything for up to 12 months.

To use catalogue buy now pay later plans, all you need to do is select the buy now pay later option at check out on their websites. With most catalogues you will need to open a shopping account with them before you can select the buy now pay later option, as they are effectively offering credit terms so will need to carry out a credit check for all applicants (however the catalogue credit scoring is thought to be much more lenient when compared to the credit score required for loans, credit cards and mobile phones).

Buy now pay later is generally available on all items, to make paying for your new clothes, household goods or furniture much more manageable. Many companies will have a minimum order requirement for their buy now pay later schemes, usually in the region of £50 or more. In addition by opening an account many catalogues will also offer you a 10% discount on first order!

After you have received the items on buy now pay later, the catalogue company will remind you via a monthly statement when the balance is due to be paid, as long as you repay the balance on time, there is no interest to pay. However customers can spread the cost even further if they wish at the end of this period, but this will entail interest being added to the balance.

To find out which catalogues offer the buy now pay later payment option you should take a look at cataloguewithcredit.co.uk. They provide an in depth guide of which catalogues offer flexible credit options including buy now pay later, pay monthly and pay weekly.