Catalogs with Instant Credit

Catalogs with instant credit allow shoppers to order merchandise immediately without a deposit or down payment. Although not all catalogs conduct a rigorous credit check, all catalogs offering credit require at least some information before credit is granted.

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Instant credit does not always translate into guaranteed approval, although many catalogs advertising instant credit are marketed directly to consumers who have some credit problems and who may have been turned down for credit in the past. "Instant credit" refers to the ease by which an applicant can receive a quick credit decision and access to a credit line if the application is approved.

Consumers looking for a guaranteed approval on a catalog credit application should look for phrases such as "Guaranteed Approval" or "Credit Approval Guaranteed." Instead, the term instant approval refers to quick and easy credit. Consumers are already familiar with instant credit in the context of retailer credit cards. For example, a common scenario involving instant credit starts when a customer attempts to pay for merchandise but is offered a credit line by the clerk. The clerk is prompted by the computer to offer the credit line, and if the customer agrees to apply and is approved, the credit line is immediately available.

Similar situations occur with some catalogs. Instead of having to mail in a paper application and wait for a credit decision, the application process is sped up with a brief application and nearly-instant decision.

How can retail catalogs make credit decisions so quickly?

• Application Questions: Instant credit applications for catalogs usually feature questions that are designed to quickly disqualify certain applicants from an approval. Questions such as "Are you currently employed?" and "Do you have a bank account?" are the types of questions that must be answered a certain way or the credit application will be automatically denied.
• Credit Software: Catalogs that offer instant credit have computer software programs that make the credit decisions instead of customer service representatives. These software programs considerably speed up the credit application process and allow catalogs to provide a credit account instantly to approved applicants.

With the credit application process sped up with simple questions and automated credit decision software programs, offering instant credit is a simple task for catalog retailers.

Many catalogs offer instant credit options, and most of these retailers have corresponding websites or stores where the credit can also be used.

Here is a brief sample of some of the catalogs offering instant credit to approved applicants:

• JCPenney allows approved applicants instant access to purchasing from the catalog, online and in stores.
• Staples catalogs offer immediate credit decisions for applications submitted online or over the phone.
• Spiegel gives approved credit applicants instant access to purchasing using the new credit line. Applicants for this card apply over the phone for instant credit.
• AAFES credit applications are available to authorized military personnel, dependents and retirees. Instant "Star Card" credit is available for catalog purchases.

Credit decisions are not always instantaneous for catalogs that offer instant credit. Most applicants who are approved receive access to credit lines right away, but in some instances access to the credit line is delayed. For example, applicants will not receive instant credit approval if they have fraud alerts placed on their credit reports. Instead, the applicant's identity must be verified before the account is active and accessible.

Some instant credit catalogs are marketed specifically toward customers who do not have good credit. Some of these catalogs do not require credit checks, but oftentimes the interest rate and fees can be quite high. These can be a solution for people who need to purchase merchandise but cannot get approved through mainstream merchants for credit.

Examples of these types of catalogs with instant credit include Value Plus Financial and EZ Credit Warehouse. Use caution when obtaining credit from catalogs that require high interest rates.

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