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Why is obtaining car insurances difficult for those with bad credit?
Wiki User
∙ 12y ago
Car companies find that individuals with bad credit are unreliable and therefor do not want to do business with them. They are afraid of not getting their payments.
Wiki User
∙ 12y ago
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Where can someone go for auto refinancing if they have bad credit?
Obtaining auto refinancing is still possible if one has a poor credit score, but it is more difficult. Researching for lenders in your area who have a reputation of lending to people with poor credit can help you to find a good deal. Additionally, websites such as RoadLoans cater to those with bad credit who need auto refinancing.
Where can people with bad credit obtain services from Mortgage Lender's?
Those with poor credit can obtain mortgage lender services from credit agencies. However, some of the most widely recognized advice is for these individuals to work toward increasing their credit score, rather than obtaining a mortgage.
Why does a poor credit score prevent one from getting a rewards credit card?
A poor credit score can often prevent an individual from obtaining another credit card, including rewards cards. Many financial companies do not want to offer credit to those with a bad rating for fear that they will not be paid for the charges incurred.
What is the average minimum credit score required for obtaining a home loan?
The better rates go to those who have the higher credit ratings. If you have a credit rating below 680, your rate will be affected. Downpayment of 20% may also help, but generally there are also differences in rates according to the amount you borrow.
Are t mobile prepaid phones the best option for someone with bad credit?
Major cell phone companies are reluctant to deal with those with a bad credit history but, pre-paid phones offer a great option for those who have bad credit because there are no credit checks involved with obtaining a pre-paid phone. The consumer pays as he goes along, eliminating the use of services that haven't been paid for.
How can one build business credit without a personal guarantee?
To help reduce risk, it is important to establish business credit separate from personal credit. This can be done by obtaining a D&B D-U-N-S® Number and tax identification number (EIN) for your business and using those numbers to help build credit.
How can you obtain business credit without using personal guarantees?
To help reduce risk, it is important to establish business credit separate from personal credit. This can be done by obtaining a D&B D-U-N-S® Number and tax identification number (EIN) for your business and using those numbers to help build credit.
How can one get in the UK a car loan with bad credit?
Obtaining a car loan in the UK for someone with bad credit will likely have to be done through a sub-market or a broker. Lenders will not typically loan money to those that have a history of not being able to repay the debt.
Where can one get a credit card with no credit?
It is often difficult for one to get credit card with no credit. Some banks offer MasterCard and Visa credit cards to those who are trying to establish a credit history. One can apply for these cards through a bank and see if there is an approval. If not one might wish to try to get a department store or gas company credit card to establish credit.
What is bad credit?
The words "bad credit" conjure up such negative images, don't they? That's because those two little words aren't exactly what people want associated with them. When you have BAD CREDIT, you are almost marked when it comes to obtaining things like cars and homes.It's like you're wearing a sign around your neck proclaiming that you got into trouble with credit and now you have BAD CREDIT!
How can one get a home loan with bad credit?
Getting a home loan with bad credit is increasingly difficult in the United States. There are limited loans from the Federal Housing Administration (FHA), but short of having a large down payment, those with bad credit are mostly likely to be denied.
New Rules For Free Credit Scores?
New rules from the federal government now indicate that those who have been denied credit because of low scores can have the sources of those scores revealed. The rules were provided in accordance with FTC guidance from the Dodd-Frank Wall Street Reform and Consumer Protection Act. Before this, consumers were provided with a more generalized risk-based pricing notice that did not disclose the credit score. Now, consumers could become more interested in obtaining copies of their credit reports. The rules will affect those denied auto loans, personal loans and mortgages based on poor credit.
