Bad Credit? You Can Still Get That Car Loan!

Need to replace your car but worried that you won’t qualify for a loan?  Maybe your credit is less than perfect or you’re buying your first car and don’t have much of a credit history?  You can improve your chances for approval before you go car shopping just by doing a little extra planning!

First and foremost, have your down payment saved up well in advance.  The more that you can save, the better off you’ll be.  Not only will a potential lender look more favorably at a sizable down payment, but you’ll have a lower payment AND you’ll save money on interest.

Secondly, pull your credit reports and scores from all three credit bureaus ahead of time so that, regardless of which one your lender pulls, you’ll have already seen it and you’ll know what’s out there.  (If your credit score needs work and you have time to do so, work on it before you buy that car!)

And finally, shop around BEFORE you go to the dealership.  Check with your bank, savings & loan, or credit union first, then, check online for potential lenders.  There are so many really good options out there that you can’t afford not to compare offers, even if your credit is not perfect.  Don’t just automatically use the financing offered by the dealer unless it is better than what you can get on your own – remember, their lenders are working for them and not necessarily for you, so it pays to know your options before you ever set foot on that dealers’ lot.

So You Want to Buy a House

So you want to buy a house… you’ve decided that you can afford a mortgage, insurance, and the inevitable repair bills?  And it’s better to be building equity of your own than paying someone else’s mortgage, insurance, and repair bills like you do when you pay rent, right?

But, do you really know what it takes to buy your first house?  Have you really investigated anything other than looking at your “dream home” on the real estate websites?  If you’re like most first time home buyers, the answer to that question is a resounding “NO.”


The truth is, there’s a lot more to buying a house than just looking at homes, then going to the bank and getting the loan.  A. Lot. More.  In fact, getting your first house may very well be the hardest thing that you will ever do financially… you’ll find yourself digging for bits and pieces of your credit history, check stubs, tax returns, and so much more, just to get approved for the loan.  And you’ll need a lot more money than just the down payment that the bank asks for up front.  Trust me, it can be a long drawn out process, and you’re never really, really sure that it’s all going to go through until the moment when you finally sign all of the paperwork and they hand you the keys to your new home.  (And that, too, will happen eventually!)

So, what can you do up front, before you actually find the home, make the offer, and then go to the bank?  Well, first and foremost, if you’re thinking about buying a home, you need to start with your credit score. If your credit score is below 600, you’re going to have a hard time finding a mortgage lender who is willing to work with you, and if you do, you’ll likely pay a higher interest rate than if you start out with a credit score in the mid 600’s.

Don’t know your credit score?  Well, that’s the absolute first place to start anytime that you want any kind of credit, be it a mortgage loan, an auto loan, or even just a credit card.

Of course, there are lots of places where you can get your credit score for free these days, and most of them are really good, but sometimes to get your full credit report as often as you’ll want to while you’re in the process of buying a house, it’s better to pay for credit monitoring for a few months.  That way, you can keep a really good eye on your score, and if your score isn’t where it needs to be, you can check it frequently while you work on cleaning up your credit to get ready to buy the house of your dreams.


 

Quick view of the Policies and Procedures of Payday loans online same day

Payday loans online same day is an ideal productwhen there is an urgent need of cash. It is an avenue for easy and instant cash. Many financial firms offer an access to fast cash through same day loan product. With a fixed source of income,nothing can be swifter than gettingloan within 24 hours. Here’s a brief account on payday loans online same day.

Requirementsthat need to fulfilledfor a Payday Loan

There are a few simple requirements for getting a loan. First, a person has to be an adult citizen i.e.18 years of age or older. The borrower needs a valid email address, phone number and an active bank account. Finallyit is a must that applicant is appointed at the present post for the last 3-6 months and some lenders require a regular income of at least $1,000 a month. Some lenders accept social security benefits as sources of income.

Don’tworry about your credit ratings, as you are not pressurised under the credit checks, no fax or mail or anything.

The Applying and Approval Process

Payday loans online same dayis very convenient, with access to a computerwhich has internet access;a person is able to apply for the loans.  You do not have to travel to a financial institution, wait in queues, or in a linefor consulting a loan representative. Applying online saves a lot of time and energy and its cost effective too.

The application process is simple; it usually requires you to fillout an application form, where you need to fill your basic details. Most payday loans are not based on your credit history, so if you are worried about your bad credit ratings, then be rest assured as it will not be a hurdle in the loan approval.

After you have filled and submittedthe initial application form, you will receive a response on whether your payday loan is approved or not within a few minutes.

Once you loan is approved, a payday loan company will credit the loan immediately same day. Payday loan companies are fax-less, they verify your income on line or through telephone, hence for loan processing there is absolutely no need to fax documents for any verification. You need to sign the contract electronically and the company will deposit the money into your account within 24 hours.

The Repayment Terms

Most lenders give a borrower a month or at the most two months to pay back the loan. On the due date generally the lender automatically withdraws the money alongwith interest and fees from the borrower’s bank account.

Conclusion

A pay day loan online same dayis a great way to get money to pay an unexpected emergency expense. Payday loans online have a simple process for getting quick money during a difficult financial time. You need to make sure, that you get a payday loan for the shortest amount of time possible and borrow the lowest cash amount.

Bad Credit Uk? Now What?

If you have bad credit, or credit that is less than idea, we can help you get your credit history back on track.  Fixing your credit record or history is vital to improving your personal finances.  After al, that’s why we are here, to help you get your personal finances in order.  Yes order, as having good credit is essential in today’s world of finance.

You need a loan?  Without good credit, you may not even qualify for a loan, and secondly, if you do quality, and have bad credit, your interest rate and interest rate changes are going to be more than if you had good credit.

Ok, so good credit is in your best interest, you probably already knew that, and one of the reasons you are taking the time to read this article.  Well we are going to help you get your credit back on track.

First and foremost, you need to find out where you stand with your credit history.  Both Experian and Equifax can provide you with the tool necessary to understand your current credit score.  This is crucial to starting down the road to financial freedom. Find out more about CreditExpert® from Experian.   Find out more about the family of Equifax Products by visiting our site, the UK Credit Card Centre.

Let’s face it, credit cards are essential to developing, and keeping a good credit history. If you credit has slipped into a less than perfect, then you can start your credit ‘recover’ with the help of a credit card designed to get you back on track.

Both Vanquis and Capital One have developed credit cards designed to improve your credit rating. Have you had a credit card application declined in the past for any of the following reasons: because you’re new to credit, have a history of bad credit, a bad credit rating (including CCJ’s), you’re on a low income, work part time or are self employed? If any of these situations affect you, then these credit cards will help you fix your credit.  Find out more about Vanquis and to find out more about the Capital One Classic card .

Fixing your credit is a choice, a choice you can make.  To start down the road to financial freedom, you need to take the first step, a step you can make with our help.

Article Source: http://www.articlesbase.com/personal-finance-articles/bad-credit-uk-now-what-1934071.html

About the Author

At the UK Credit Card Centre our primary purpose is to provide personal financial solutions. Choosing the credit card that is best for you is rather simple. What’s not simple is the effort that is needed. That’s where we come in, we provide the tools and information necessary to help you find the credit card that is right for you.  Visit our site to find out more, UK Credit Card Centre

10 Side Effects of Extremely Bad Credit

Because your credit score is not a number you deal with daily, it often goes ignored.  Forgetting payments, maxing out a credit card, or ignoring your bills will all have a huge impact on your credit score and credit history.  A positive credit record will lead to lower interest rates, more job opportunities, and more possibilities to rent or buy a home.  Here are the most pressing side effects of bad credit:


1.         Credit and/or loan application not approved

The lower your credit score, the less likely you will be approved for a new line of credit.  Since you are a high risk for the lender, you are either denied completely or offered the loan at a high rate.

2.         High interest rates on credit cards and/ or loan

Because you are a high-risk borrower, some credit agencies will give you an incredibly high interest rate.  It is not uncommon for some credit cards to have as much as 30% APR!

3.         Not hired for job position

Many employers are checking potential employee’s credit report, especially in the financial industry.  If you have less than ideal credit, this may be a reason for your employer to look elsewhere for an employee.  CNN Money reports that 60% of employers use credit checks as part of the screening process for their new employees.

4.         High insurance premium

All insurance companies check your credit before offering you a premium.  It is statistically proven that consumers with lower credit scores file more insurance claims, therefore, it is said that these consumers deserve the most costly premiums (regardless of how many claims you actually filed).

5.         Denied for an apartment or house rental

Landlords almost always check your credit before offering up a lease agreement.  It is not uncommon for the consumers with the lowest credit scores to have much difficulty finding a place to live, if at all.

6.         Difficulty buying a vehicle

Want that new Toyota? Make sure your credit is stable.  Car dealerships use banks’ analysis of your credit report to determine a loan for you.  Bad credit can leave you with extremely high interest rates consequent excess expenses on your vehicle.

7.         Difficulty getting a cell phone contract

Cell phone companies always check credit since they offer their services in advance.  Obviously the company needs to see how financially responsible you are with payments before giving you the cell service.

8.         Difficulty starting your own business

In order to start a business, you usually need money in the form of a loan.  If you are unable to take out a loan due to bad credit, your business plans might never come to fruition, no matter how good the business idea.

9.         Calls from debt collectors

Many creditors will hire third-party debt collectors to collect the payment for past-due bills.  They will call your home phone, your cell phone, and even go as far as calling your family members to track your whereabouts.  These debt collectors will not leave you alone until your payment is made.

10.       High security deposits for utility accounts

Your electricity, cable, phone, and natural gas companies might require you to put down an initial deposit down before your service begins to ensure payment.  Companies frequently require this down payment as a part of the application process for consumers with bad credit.

Article Source: http://www.articlesbase.com/business-opportunities-articles/10-side-effects-of-extremely-bad-credit-4208260.html

About the Author

Extremely bad credit by Accurise accolades could only go so far. The economic storm that confronted everybody in late 2008 was a realization that everything was about to drastically change.

Bad Credit? Get the Credit Card you Want and the Credit Card you Need!

So you have bad credit, millions do, and more importantly millions did.  Yes million of people have taken the steps necessary to improve their credit history, and credit ratings.

Before you start to improve your credit rating, it’s critical to find out why your credit is in the state that it is. If you don’t know why your credit is poor, then you must ask to see your credit reference file to find out.  At the UK Credit Card Centre we can help you in your quest to understand your credit score (Visit our Credit Help page).


Once you have a good understanding why your credit score is poor, or bad, there are a number of simple steps you can take to help improve your credit rating and start to rebuild credit history and score:

  • Make sure you are on the electoral roll. It only takes a few minutes to register with your local council and it will help to improve your credit score over time.
  • Always pay bills when they are due. This will begin to improve your credit history and score and will again give you an improved credit rating over time.
  • Do not apply for too much credit.  The number of times you apply for credit, either credit cards or loans can have a negative effect on your credit score. Every application for credit is logged into your credit file.  Too many credit applications in a short period of time may not help your credit rating.
  • The truth matters.  When applying for credit never give false or misleading details.  Always tell the truth.  If there are inconsistencies with past credit applications or details that are held on credit checking systems differ from your application it will affect your credit score.
  •  Start to build a credit history over time and when you check your credit reference file you should find an improved credit score.  Remember good credit will not occur over-night, but if you take the time to fix your credit blemishes, your score will improve over time.

So how can you improve credit ratings if you can’t get credit?  Credit card companies like our Vanquis and Capital One are specially designed for people with bad credit, or for people that have credit that needs help.  Even if you have been turned down by other credit card companies, you may be able to qualify for cards designed to improve credit.

As long as you manage the card properly, stay withn your credit limits and pay promptly, this is a good way to build credit history and to improve your credit rating.  Take the time to understand how to build good credit, and you will start down the road of financial freedom.  To find out more about cards designed for people with bad credit, Please visit our site UK Credit Card Centre for additional details.

Article Source: http://www.articlesbase.com/credit-articles/bad-credit-get-the-credit-card-you-want-and-the-credit-card-you-need-1768087.html

About the Author

At the UK Credit Card Centre our primary purpose is to provide personal financial solutions. Choosing the credit card that is best for you is rather simple. What’s not simple is the effort that is needed. That’s where we come in, we provide the tools and information necessary to help you find the credit card that is right for you

Bad Credit Credit Cards are not Bad at All

Bad credit history may greatly affect your future credit card applications, at least for the next seven years down the road. We know that bad credit does not just target the lazy person, it holds no discrimination as to whom it will target and it will not. Plus, many of us understand bad credit can sometimes feel like the end of the world, but it does not have to be. With bad credit, getting approved for a standard credit card can be difficult, if not impossible, and it is tough to get any type of unsecured credit card with bad credit. If you have bad credit, you may be under the impression that you are not able to apply for a credit card. However, today we have bad credit credit cards available to help us.


If you have bad credit, there are still credit card opportunities for you to apply to and even receive instant approval. That is one of the reasons bad credit credit cards are a highly searched item on the Internet. Bad credit credit cards are some of the most misunderstood financial tools of all time. They are intended to make it easier for many to obtain credit. That is because bad credit credit cards allow people with less than perfect credit, or no credit history to get on the right track and begin building or rebuilding their credit.

Bad credit cards approval is possible with many bad credit card applications, though bad credit cards approval may imply additional requirements, for the applicant. Bad credit charge cards are regular credit cards, except that the interest rates and fees may be a little higher, and they are specifically designed for those with no credit history, or adverse credit history. In many cases they are the best option for anyone who has a lot of debt and bad credit, also. As you can see, bad credit credit cards are unique cards geared towards people who have had trouble getting approved for a standard unsecured credit card. Once acquired and used correctly, bad credit credit cards help greatly to fix credit scores. Using a bad credit card the right way rebuilds your bad credit history, so, if your credit score needs improvement, do not hesitate, compare credit card offers and select a bad credit credit card to start rebuilding your credit score at once. After all, a bad credit credit card can be just the thing that saves your credit.

Bad credit credit cards can be a good way for consumers with poor, or no credit history to establish and build a solid credit history. They are offered by many banks as financial tools to help people establish or re-establish their good credit rating. Still, it is true that bad credit credit cards must be used responsibly, or your situation will just worsen. For all practical purposes, bad credit credit cards are just like regular credit cards, but they are specifically for high risk cardholders.

Bad credit credit cards charge various fees and offer various features and they are unlikely to be no annual fee credit cards, but you can search for the best low interest credit cards for poor credit. Bad credit usually attracts high APR on credit cards, plus bad credit credit cards often charge annual fees of up to $50 or more. In spite of the additional fees bad credit credit cards are an excellent method for the people with bad or no credit, to improve their credit rating and to enjoy the benefits of credit cards.

Bad credit credit cards are offered by many banks as financial tools to help people establish or re-establish their good credit rating. Though some consumers have a negative view of bad credit credit cards, they should not. Bad credit credit cards are primarily intended to make it easier to obtain and re-build credit, which is good for consumers and merchants as well.

Article Source: http://www.articlesbase.com/credit-articles/bad-credit-credit-cards-are-not-bad-at-all-162548.html

About the Author

Art Taylor has been a successful internet marketer for 10 years. He writes articles about credit cards and other topics. For more information or to apply for credit cards visit his websites at: {Credit Cards|Eshopperworld} or {Cards|Ecreditcardworld}.

5 Major Drawbacks of Bad Credit Credit Card

With a bad credit and less than perfect credit history, getting a credit card with competitive features is not that easy. In this article we take a look at the 5 major drawbacks that come with a bad credit credit card.

1. High APR

With a bad credit credit card the interest rates are reasonably higher. Forget those 0% intro APRs- they rarely come with a bad credit credit card. So, keep your credit card balances low, to stop this high APR from burning a hole in your pocket.

2. One time processing fee

Some credit card companies charge a processing fee for people with bad credit who apply for credit card. This is generally charged by credit card companies due to the credit checks, other formalities and risk involved in providing a credit card to bad credit people. If you are going for a secured bad credit credit card then this fees can be waived, otherwise it has to be paid. The catch here is that credit card companies demand upfront payment of processing fee. But, a wise credit card consumer will find a credit card company which charges the fees to the credit card not demands cash in advance.

3. High annual fee

Keeping the bad credit credit card is definitely going to cost a lot in terms of annual fees depending on the credit report it can go in hundreds of dollars per annum. Bad credit credit cards with 0 annual fees offer is very difficult to find.

4. High late payment fee

Late payment with a bad credit credit card is severely penalized. The credit card companies charge heavy late payment penalties on repayment default and are very quick in reporting the default to credit rating agencies with a bad credit credit card.

5. Lower credit limits

Since, the credit card companies face increased risk in providing credit card to bad credit people, therefore the credit limits are lower. The credit limits can be increased with secured bad credit credit card and proper repayment of credit card balances.

These 5 factors related with bad credit credit cards increase the cost of owning one. Comparing various credit card offers, especially, when you have a bad credit will help you lower the interest and fees burden of a bad credit credit card.

Article Source: http://www.articlesbase.com/credit-articles/5-major-drawbacks-of-bad-credit-credit-card-173758.html

About the Author

Duran Mueller an expert author and credit card consultant, provides great Advanta credit card tips. Read more credit card articles at his credit card website.

Bad Credit Credit Cards: How You Can Avoid High Fees

Individuals with problematic credit histories often suffer unfairly from high mortgage, insurance, and car loan rates. On top of that, they have difficulty getting approved for credit cards. The whole situation can get extremely frustrating. Frequently, I get emails from consumers wondering what they can do to rebuild their credit. The first thing I tell them is to get a credit card designed for people with bad credit. The second thing I tell them is written in bold: READ THE FINE PRINT.


There are only a limited number of credit cards for individuals with bad credit. At first glance, many look the same. They all help build and rebuild your credit by reporting to the major credit bureaus on a monthly basis. They all provide you with the Visa or Mastercard you need to make many purchases. And they are all necessary evils that can save you thousands of dollars in mortgage and car loan rates in the future. However, you must read the fine print before applying for one of these credit cards, as they often charge high yearly fees, set-up fees, and even monthly fees. Here, I will examine a few examples of charges current “bad credit” credit cards bury in the fine print. Of the three major cards I will examine, only one stands out as consumer-friendly.

“Bad Credit” Credit Card #1: This credit card charges a very low interest rate for an unsecured credit card. However, your first fine print glimpse reveals that there is a one time setup fee of $29. Not too bad. So far, since the next charge is a one time fee of $95. So far, we’re up to $124 in expenses. That’s got to be it, right? No. Add in another $48 for the annual fee and $6 per month in account maintenance fees. That’s brings the cost of your new credit card to $244 the first year, and $120 each additional year. This is no small change, and a card such as this should be considered only if you cannot be accepted for a better unsecured credit card for bad credit.

“Bad Credit” Credit Card #2: This credit card charges a very high interest rate for an unsecured credit card. This can’t be good. But the setup fee is only $29. Maybe this card isn’t so bad. There is that pesky monthly maintenance fee of $6.50 per month which brings the cost of this unsecured credit card to $107. Maybe we’ve found a bargain. Not quite. The annual fee is a whopping $150. Yes, $150 every year. That not only brings the initial cost up to $257, but you will also pay $228 a year just to maintain the credit card. There has to be a better offer.

“Bad Credit” Credit Card #3: This credit card is available as both a secured and unsecured credit card, based on the issuer’s review of your credit history. The interest rate is average, even competitive. Now, the fine print reveals that there is a one time setup fee. However, based on your credit, this fee can be as low as $0 or as high as $49. So far so good, especially if your credit is not that bad. But, there must be a huge annual fee. Not exactly. The annual fee for a secured credit card is only $35, and for an unsecured credit card, this fee can be as low as $39 or up to $79. So far, the cost of this card ranges from $35 to $128. Now its time for the monthly maintance fee. This one has to be huge. Or not. Its $0. That means the most you could possible be charged to obtain this credit card is $128, about half of what competing cards are charging.

Clearly, there are substantial difference between “bad credit” credit cards. Of the three offers we have examined, only one doesn’t take you to the cleaners. In fact, “bad credit” credit card #3 provides great value. All positive changes to your credit history and credit score will translate into lower loan rates, lower credit card interest rates, lower insurance rates, and ultimately, thousands of dollars in savings. The path to rebuilding credit has its costs, but in the long term, rebuilding your credit with a “bad credit” credit card is the fastest and most cost-efficient way to correct the often unfortunate circumstances that have damaged your credit in the first place.

Article Source: http://www.articlesbase.com/credit-articles/bad-credit-credit-cards-how-you-can-avoid-high-fees-3276881.html

Bad Credit – A Brief Guide


If you’ve ever applied for a loan but been rejected, it might be because you’ve got bad credit on your credit history. Believe it or not, it’s actually a problem that many people suffer from, sometimes without even knowing it – latest reports suggest that around 25% of people applying for loans have bad credit on their credit history! Even worse, it can appear on your record in several ways, including some you might not have realised…

Some ways of it being generated are obvious: for instance, if you take out a credit agreement or loan and fail to make the repayments, you’ll default on what you agreed to pay. The same also goes for paying bills like gas, electricity and telephone late, meaning suppliers have to send you red bills. However, it can also be gained by regularly applying for credit (loans, credit cards, hire-purchase and more) and being turned down. This is because applying for credit causes a check to be made on your credit history – more checks means more activity on your credit record, which can ultimately lower your credit score. Bet you didn’t know that being turned down for the credit on that washing machine could lead to bad credit, did you?

Unfortunately, many people think that the problem will fix itself with time. While that’s technically true, bad credit can actually stay on your record for between 7 and 10 years – that’s an awfully long time to avoid getting credit in. Thankfully, there are ways of repairing a poor credit rating, some of which are very easy. Registering to vote, for example, is one element taken into account on a credit record, as is having utility bills registered in your name with a fixed address. Debt consolidation can also help, as it reduces your monthly outgoings into one manageable monthly payment and adds a sense of reliability to your previously bad credit score. And while you don’t want to be snowed under with credit cards and loans, it’s often wise to at least have some credit that you manage easily – this can help repair your credit rating, since it proves to lenders and loan providers that you can be trusted to repay money that you’ve borrowed.

Of course, even if you’ve had financial problems in the past, it’s not totally impossible to get a loan; many lenders and loan providers have allowances for Bad Credit Loans (loans given to people with bad credit that usually have a higher rate of interest on repayments). These can also help to repair a bad credit rating, so they’re worth considering as an option if you have nowhere else to turn. There are also a select number of credit cards designed for people with bad credit, although these too have higher-than-usual interest rates and are usually quite restrictive on the credit limit offered too.

If you think that you might have bad credit, it’s worth getting hold of your credit report to check for what might have caused it. You can do this easily online through one of the main credit reference agencies like Experian or Equifax – it’ll only cost £2 for the report and can help you understand exactly what’s going on behind the scenes.

In Summary

Bad credit can…

  • Prevent you from being accepted for loans and credit cards
  • Be earned by not repaying loans or regularly applying for loans without success
  • Stay on your credit record for up to 10 years
  • Be repaired by taking out a Bad Credit Loan or other form of secured credit
  • Be avoided by paying your bills and other debts on time!

Copyright: Individual Finance, 2010
About the Author:   IF’s Martin Mathers is a professional journalist with 12 years of experience, covering everything from finance and business to movies, music and technology.

Individual Finance has informative articles on a wide number of aspects relating to UK finance. It also keeps users up to date with the latest money-saving offers and vouchers through regular e-mail newsletters.