Buying on credit

Do you know what to look for when buying on credit?

Most people will enter a credit agreement at some time. Ensure that you know:

  • what will be the total cost of the loan?
  • who is offering the best deal?
  • what is the APR?
  • what are the monthly payments?
  • how long will you be paying?

Do not sign an agreement unless you understand all the terms and want to be bound by them.

If you are refused credit, you are entitled to know the name and address of any credit reference agency that was contacted about you. You are also entitled to see the information held about you and correct any inaccuracies.

You can ask a lender who turns you down for the details of any credit reference agency that provided information about you. Write to the lender within 28 days.