Finance FAQs
Phase One finance solutions are provided by able2buy.
At Phase One, we've put together a range of special finance options that provide customers who prefer not to pay by credit or debit card at the time of order, with an easy and attractive alternative. able2shop's online finance, is the convenient way to get your hands on the products you want today without breaking the bank! In short, our online finance options give you the ability to spread the cost of the products you want NOW, over a time frame that suits your budget. Read on for more information, including specific examples and your questions answered.
How quickly will my application be processed?
If your online application is received between 9am and 11pm, Monday to Saturday, 8am and 7pm on Sundays then in the majority of cases, able2buy will provide you with a decision within a matter of seconds. If you submit your application outside of these hours, then able2buy should provide a response the next day. We'll send you an email to confirm the status of your application as soon as we've processed it.
Once my application is approved, what happens next?
If your application is approved, you'll be able2 download the credit agreements directly from the Accept Screen. At the same time an email will be sent to you which containing downloadable versions of the credit agreement. Alternatively, you can request for hard copies of your agreement to be posted to you. All agreements are supported with a copy of our terms and conditions. Once downloaded/received, you'll need to read the agreement carefully, then sign and return it via FREEPOST to able2buy. Note that shipment of your goods will follow as soon as your signed agreement has been returned to able2buy.
Will you credit score me and if so, what does this mean?
Credit scoring is the process used by financial services companies to evaluate the credit risk of new applicants. This technique will be applied to your application for online finance. Credit scoring works by awarding points for each answer given on the application form such as age and occupation, together with information obtained from credit reference agencies. This information allows able2buy to produce consistent decisions, ensuring all our applicants are treated fairly. Credit scoring does not discriminate on the grounds of sex, race, religion, disability or colour.
If you decline my application, what is the reason?
In addition to credit scoring, we also take into account confirmation of your identity, validation of certain application details, existing commitments and information held at the credit reference agencies. Though we are unable to provide you with a main reason for decline of your application, it is usually based on one, or a combination of the following:
- Your credit score (note that every finance company will score you differently
- Adverse credit reference agency information
- You are considered to be overcommitted
- You are aged under 18
- Your existing account performance with other lenders
What type of information do credit reference agencies hold about me?
Some of the information is public information, for example electoral roll, County Court Judgments and bankruptcies. Other lenders may also file information about accounts you hold with them for instance this could include your payment history and outstanding balance on these accounts. Any requests for credit, where a credit reference search has been undertaken, will also be filed, although the result of the request is not recorded.
How do I obtain a copy of this information?
You can obtain your information about your own credit file and also find out more about credit decisions by visiting the credit reference company websites:
Who is my credit agreement actually with?
Your finance agreement will be with one of the UK's leading financial services companies.
If my application is not successful, can I re-apply?
Yes. We acknowledge that your circumstances change and just because we have refused a previous application, it does not mean that we'll automatically turn down a further request. We do suggest however, that you leave at least 6 months between applications.
Who is eligible to apply for finance?
To apply for Finance, you must be at least 18 years of age, work at least 16 hours a week, or be retired or disabled with an income. You must also be a resident of the United Kingdom and have lived in the UK for the last three years or more. Homemakers aren't excluded from application under their own names, however we will require the employment status of your partner in order to process your application.
Can I request delivery to an address other than my home?
In order to safeguard against fraudulent applications, we regret that we're able only to deliver goods to the home address of the applicant. Saturday morning deliveries can be arranged if this is more convenient for you.
Can I change my order in part or whole after applying for online finance?
To ensure your chosen products are correctly delivered to you, if you need to change your order in anyway, it may be necessary to cancel your order and re-key it as if it were new. We apologise for any inconvenience this may cause.
Are the goods I’ve ordered set aside for me until the approval process is complete?
Normally goods are allocated to your order only when your completed and signed agreement is received back. This means there's a small chance that the product you ordered may be sold out by the time your agreement is received. To avoid disappointment, we recommend minimising any delay by completing and returning the agreement as soon as you can.
