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Subject:  How to Get a Loan When You Have Bad Credit Date:  4/5/2019  4:02 PM
Author:  brandonmotley Number:  36 of 457

When you need to apply for a mortgage, credit card, or even a personal loan, having a good credit score is ideal. When your credit score is much higher, you can easily get approved for these financial products and the lenders that provide these products will typically charge you much less in interest, which means you can save some of your money in the long run.
There are lenders out there who specialise in unsecured loans, bad credit, no guarantor loans ( and help people who otherwise couldn’t get credit secure a loan.

Because you can benefit from having a higher credit score (, it helps to do certain things to get your score to increase over time.

Use a Credit Card to Pay for Small Purchases

When you want to improve your score, you do need to use a credit card, but that means being responsible when you are paying for purchases with it. Instead of maxing out the card, use it to pay for small purchases that you can easily pay off when you get paid. It will show that you are responsible and can you’re your payments on time with no problem.

Do Not Overuse Your Available Credit

You may feel a bit tempted to max out a credit card ( because the company has given you thousands of dollars to spend, but it is not worth doing that. You should keep your utilization below 30% of the amount you were given when the company provided you with a line of credit. It shows the company that you know how to use the credit card the right way and are not living beyond your means by swiping with it every single time you decide to buy something.

View and Edit Your Credit Report

Looking at your credit report ( online is a great way for you to find out more information on your score while checking the accuracy of the information that is displayed under your account. If you notice any inaccurate information, you can work on having it removed. Any negative remarks that do not belong there can eventually get taken off, causing your score to drastically increase.

Enrol for the Electoral Roll

Choosing to enrol in the electoral roll could give you a greater chance of getting approved for a line of credit that you are requesting. It makes it easier for lending companies to find out information about you before agreeing to provide you with a loan.

Do Not Apply for Credit Too Close Together

Some people feel the need to apply for multiple credit cards within a short amount of time, but this is something that can bring your score down. Not only will your score drop, but lenders may refuse to provide you with a credit card or loan because they think that you are desperate to get funds because you do not have money. They could see you as a potential risk.

Even if you get rejected, do not continue to apply for additional credit cards. Try to wait a few minutes before you start completing another application just to avoid looking like you are desperate for a line of credit. You should also continue to monitor your credit report to make sure that it is completely accurate.
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