Bad Credit Loans UK – Do You Actually Need One?

You probably already know that when you’ve got a less than perfect credit rating, getting a loan can be an uphill battle. No one likes to be turned down when applying
for credit and it’s really frustrating when it happens. But there are options open to you without
having to use PayDay lenders. In fact, let me tell you right here, I absolutely
don’t advise you to use any kind of PayDay lender! They’ll charge you a sky-high rate of interest
and you’ll be left short when you next get paid. And that means you’re more likely to
go back to them for another loan. It’s a vicious cycle that drains your finances
while making the PayDay loan company a lot of money. So, what other options are open to you? Well, because you have bad credit it does
mean you’re classed as a ‘high risk’ to any lender. And that means you’re going to have
to pay a higher rate of interest on your loan. But do you know how bad your credit actually
is right now? Strangely enough, a lot of people actually
think their credit rating is worse than what it actually is. This is usually because they
applied for credit and got turned down. But just because you were turned down doesn’t
mean your credit is bad. Each lender that you apply for a loan from
has their own set criteria for accepting applications. Right now your credit score may be 500 which
is not bad and it’s not great. It’s kinda middle of the road. However, if you applied for a loan from Lender
A, they may decline you. But if you applied for a loan from Lender
B, they may accept you. It’s all because each lender has their own
criteria when it comes to accepting or declining credit applications. If you think that you have a bad credit score,
or you’re simply unsure of what your credit score is, then the first thing you should
do right now is get a copy of your credit file. There’s a really easy way of doing this and
you can do it online, for free. Yes, gone are the days of having to send a
cheque in the post to each credit reference agency and then waiting to get your credit
report back in the post. There are links in the description box under
this video to websites that will give you free access to your credit report online. These companies do this because they will
also suggest credit cards, loans and other financial products that they feel there’s
a good chance you’ll be accepted for. This in itself makes it a good idea to get
your credit report from them. Each month they will send you a reminder to
log in and check your credit rating and to see what loans and credit cards you’re most
likely to be accepted for based on your credit score. So, before you go randomly applying for bad
credit loans, do yourself a favour and check your credit file and credit score first. Doing this can save you a lot of time, hassle
and money. Don’t apply for a loan until you know what
you’re actual credit score is. Use the link below to access your credit file
online today. You may actually be surprised to find out that your credit score isn’t as
bad as you thought.

One comment on “Bad Credit Loans UK – Do You Actually Need One?”

  1. UK Credit Repair Secrets says:

    Do you know how good or bad your UK credit score actually is right now? Stop guessing and access your credit report online, for free, right now. Go to and get instant access to your credit score. Got any questions about how credit scores work or need more information? Let us know in the comments section below.

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