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Are bad credit loans a good idea?

Updated: 9/20/2023
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12y ago

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Bad credit loans aren't necessarily a good or bad idea. They have higher interest rates, shorter payback periods, bigger down payments, but can sometimes be a good answer to starting to rebuild your credit. Sometimes it is simpler to pay down debt and try to get a more traditional loan.

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Q: Are bad credit loans a good idea?
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Where can one find lenders for loans if one has bad credit?

Finding lenders for loans if one has bad credit could be pretty tough. One would find it harder to get a loan with bad credit, as opposed to if they had good credit.


Where can one compare unsecured bad credit loans online?

One can compare unsecured bad credit loans online by looking for the website Personal Loans For Bad Credit. There are other sites out there, but this site can do the comparisons of bad credit loans.


How can you stabish credit?

There are three different types of credit that all contribute to your credit score and determine whether you have good or bad credit. I know that credit cards such as visa, mastercard, and American express make up the first type of credit and then car loans, business loans and other loans make up the second type of credit. I'm not sure what the third type is. You gain credit by having a credit card and using it and/or taking out loans. Good or bad credit is determined by the payments on your credit cards and/or loans. Making the minimum payment at least, on time will lead to good credit. Not paying will lead to bad.


Where can someone fill out an online credit card application for bad credit?

One can fill out an online credit card application for bad credit at DKB Germany website, Credit Net website and Loans for Poor Credit. Other good places are Barclay Card and Personal Loans for Bad Credit.


Are interest rates on auto loans much higher if you have bad credit?

Interest rates on auto loans are much higher with bad credit compared to an auto loan with good credit. Many times a person with bad credit will receive an interest rate of 18% and up.

Related questions

Are cash advance loans a good idea for someone with bad credit?

No the interest rate is to high.


Where can a person with bad credit shop for automobile loans?

A person with bad credit can shop for automobile loans on the Road Loans website. Another good place to get automobile loans with bad credit is the JD Byrider website.


How can you get a good rate for car loans if you have bad credit?

When you have bad credit, it is essential to shop around for a good car loan rate. It is also important to know your credit score, and what is included in your credit report. Going to your bank or credit union first is also a good idea since you already have an established financial relationship with them.


Where can one find lenders for loans if one has bad credit?

Finding lenders for loans if one has bad credit could be pretty tough. One would find it harder to get a loan with bad credit, as opposed to if they had good credit.


Where can one compare unsecured bad credit loans online?

One can compare unsecured bad credit loans online by looking for the website Personal Loans For Bad Credit. There are other sites out there, but this site can do the comparisons of bad credit loans.


How can you stabish credit?

There are three different types of credit that all contribute to your credit score and determine whether you have good or bad credit. I know that credit cards such as visa, mastercard, and American express make up the first type of credit and then car loans, business loans and other loans make up the second type of credit. I'm not sure what the third type is. You gain credit by having a credit card and using it and/or taking out loans. Good or bad credit is determined by the payments on your credit cards and/or loans. Making the minimum payment at least, on time will lead to good credit. Not paying will lead to bad.


What exactly are tenant loans?

Tenant loans are unsecured loan for people with bad credit or no credit. There are different kinds of tenant loans, private tenant loans, bad credit tenant loans.


Where can someone fill out an online credit card application for bad credit?

One can fill out an online credit card application for bad credit at DKB Germany website, Credit Net website and Loans for Poor Credit. Other good places are Barclay Card and Personal Loans for Bad Credit.


Is there anyone in Raleigh, NC that will make bad credit payday loans?

Bad credit is inherent in "payday loans." These are predatory lenders, relying on the lack of fiscal and economic savvy on the part of the desperate borrower. People with good credit do not take "payday loans." Go to: payday-loans-raleigh.com


Are interest rates on auto loans much higher if you have bad credit?

Interest rates on auto loans are much higher with bad credit compared to an auto loan with good credit. Many times a person with bad credit will receive an interest rate of 18% and up.


Which websites have details on bad credit loans?

www.247lendinggroup.com is a site that loans bad credit people money.


Where can one find a bad credit loan in the UK?

Bad credit loans in the UK are not common because people typically don't advertise bad credit loans. However if you ask around for some bad credit loans you will surely find some.