24 Ace Catalogue - credit query

[nifter]

Hi everybody,

 

This is probably a really stupid question but I have never bought anything from a catalogue before and am really confused. I purchased an item for 65 pounds for which I have sent a cheque. What I am unsure about is the 235 pounds my statement says I have 'remaining to spend'. Is this like some sort of loan? I am suddenly panicking that I have signed up for something I didn't want or realise I was getting. I didn't buy from them intending to continue doing so - they just happened to have what I wanted cheaper than anyone else.

 

Apologies if I am being incredibly dense - any advice would be much appreciated. Thank you.

[hightail]

They have opened you an credit account with a limit of £300. I too hate companies that insist on doing this when all I want to do is order something and pay for it.

[nifter]

Thanks Hightail,

 

What does that mean though? Will I have to keep ordering until I have spent the 300? Is there any kind of financial penalty for not doing so like interest or anything?

 

Thanks for your help.

[IdaInFife]

Hi,

 

You do not have to roder anything else. Most catelogue companies think if you are ordering anything from them then they will open an account for you so you will use it.

 

If you sent a cheque for the full amnount at time of order them no need to wrry and you would not ned to pay interest or anything on it. I had this and sent them a lteter statind i did not request any credit and did not wish to have it either. They zero the credit but it still gave me an account number so if i wanted ot order naything in future could usee that to do so at pay with the order.

 

Ida x

[hightail]

You don't have to do anything. It simply means you can order up to £300 from them and not pay up front. Presumably they invoice you and you can pay it off over time. If you don't use them again then you'll just keep getting statements for a while saying your balance is zero. If you use them again and pay up front for what you buy then your statement will always be zero. The ones that are a real pain are those that won't let you order and pay - they insist on invoicing you at a later date. One of those lost a fair old order from me once for Christmas stuff. I really wanted it for a village kids party but I don't think they are interested in one off sales.

[nifter]

Thanks very much for your help, everyone. I'll stop worrying now!