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Is it possible for a person with a credit score below 460 to get a personal loan?
Wiki User
∙ 15y ago
There are other requirements for a loan besides your credit score. How much debt do you currently owe, How much do you make a year and how long have you had your job? Are you buying a house or renting and how long have you lived there? Do you own anything, have any money in a saving account, any assets? Are you married, and if so does your spouse work, do you have any dependents?
Wiki User
∙ 15y ago
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Is it possible for a person with a credit score below 450 to get a personal loan with no collateral?
It is very improbable that you will get an unsecured loan with a credit score in the 400's. Unless you show that you are trying to rectify the reason for your score to be so low and show proof that you are doing so.
What is the lowest possible credit score you must have to obtain a bad credit loan?
In order to obtain a bad credit loan a person has to have a credit score is 620 anything below that would be considered high risk.
How do you get your business to have credit?
Go to a bank with all of your official business documents and apply for a line of credit. They will base their decsions upon the soundness of your business plan, any possible collateral of the business or your own and the your personal and business history. The link mentioned below has few more ideas.
What credit score do you need to get a credit card?
Below you will find an approximate example of what an issuer may use in regards to credit. One factor to consider is the rate will differ dramatically from a person with good credit and a person with bad credit. Credit rating and history will also affect the amount of credit that is given. Credit Score Rating Example Excellent - 720 - 850 Good - 680 - 720 Fair - 640 - 680 Poor - 350 - 640 No Credit - 300 - 349
Can you get an unsecured personal loan with bad credit?
Probably, with a good employment history, been living at the same place for a long period of time, they will charge you with a high interest rate. Reality: If your credit score is below 600, YOU CANNOT get personal loan from a traditional lending source. You are relegated to the dangerous "pay day loan" lenders.
Is it possible for a person with a credit score below 450 to get a personal loan with no collateral?
It is very improbable that you will get an unsecured loan with a credit score in the 400's. Unless you show that you are trying to rectify the reason for your score to be so low and show proof that you are doing so.
What is the lowest possible credit score you must have to obtain a bad credit loan?
In order to obtain a bad credit loan a person has to have a credit score is 620 anything below that would be considered high risk.
How do you get your business to have credit?
Go to a bank with all of your official business documents and apply for a line of credit. They will base their decsions upon the soundness of your business plan, any possible collateral of the business or your own and the your personal and business history. The link mentioned below has few more ideas.
Does getting denied for a loan affect your credit?
You were probably denied your loan application BECAUSE of your credit rating. It should be possible to find out what your credit report says about you - see the link below.
What credit score do you need to get a credit card?
Below you will find an approximate example of what an issuer may use in regards to credit. One factor to consider is the rate will differ dramatically from a person with good credit and a person with bad credit. Credit rating and history will also affect the amount of credit that is given. Credit Score Rating Example Excellent - 720 - 850 Good - 680 - 720 Fair - 640 - 680 Poor - 350 - 640 No Credit - 300 - 349
The amount above what you owed but below your credit limit is called what credit?
unused credit
Can you get an unsecured personal loan with bad credit?
Probably, with a good employment history, been living at the same place for a long period of time, they will charge you with a high interest rate. Reality: If your credit score is below 600, YOU CANNOT get personal loan from a traditional lending source. You are relegated to the dangerous "pay day loan" lenders.
What is the credit card debt ratio to get a mortgage?
At the present time, lenders want to see that a prospective borrowers credit card to income ratio is as far below 40% of their income as possible. The further below it is, the better an interest rate. In coming years, it may go signifcantly lower than 40%.
Business loan with bad credit?
Yes they are possible and you can obtain the money via several and (unimaginable maybe) ways. In the link below there is a concise adn easy to understand article about bad credit business loans. Hope it helps!
What is the highest credit score possible?
It depends on the Credit Reporting Agency because they all use varying models. The maximum FICO score is 850. The maximum VantageScore (a new score now used by Experian, among others) is 990. For FICO, the highest possible credit score is 850, but anything above 700 is really good. Below 620 you are considered a serious credit risk and will pay high interest rates on any loans, credit cards, etc. you can get.
How do you improve your credit rating?
Pay down high credit balances below 50% of the available credit and down to zero if possible. Report on time payments on at least one but multiple trade lines if possible. (on time is not more than 30 days late) Pay off any derogatory credit - collections, judgments Provide documentation to the three credit bureaus to update any incorrect information. ex. proof that a collection is paid in full if it is reporting a balance on the credit bureau Use credit - you need to use it to build and maintain your score obtain a healthy mix of credit - installment and revolving lines of credit
What does name on credit card mean?
Name on Credit Card mean the name that appears at the front of the card, below the long card number. This will be the name of the person to whom the card was issued by the bank.
