Personal Loans Bad Credit-How To Get Guaranteed Bad Credit Personal Loan

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Personal Loans Bad Credit
Personal Loans Bad Credit

Personal Loans bad credit–Please take note before going forward

Bad credit means different things to different lenders. For the purposes of this article, I focus on lenders who will make loans to customers with credit scores under most acceptable levels others won’t even consider looking at.

Bad Credit Loans can mean the difference between destitute and a roof over your head. We are not  lenders ourselves, instead we connect you with suitors who will get in touch with you only if they are going to offer you a loan deal despite falling into category where guaranteed bad credit personal loan is almost impossible.




We go our way in attempting to rise above the typical fray (if not very far above it) by connecting borrowers with poor credit to a network of willing lenders.

Personal Loans Bad Credit–How To Pre-Qualify Yourself Before Applying

To apply online, there are conditions that must be met, you must be 18 years old, have a valid phone number and email address, provide proof of citizenship or legal residency, show that you’ve been employed for 90 or more consecutive days with an after-tax income of at least $1,000 a month, and hold a checking account in your name.

Personal Loans Bad Credit– Why Use Our Recommended Lenders

In theory, using our recommended lenders Guaranteed Bad Credit Personal Loan should be easier to get as it spur competition and work in your favor.

If you receive several loan offers, you can choose the best of the bunch. There’s no guarantee that you’ll receive multiple (or any) loan offers, and the ones you do get are unlikely to wow you.


On the other hand, Guaranteed Bad Credit Personal Loan does not mean that when the company offering you personal loans despite bad credit says the annual percentage rates (APRs) on offer range from 230% to an incredible 2,330% you should accept it. It’s important to remember that you’re under no obligation to accept these offers.

Whether it’s because you have a thin credit profile or a history of missed payments, a bad credit score will affect your interest rate and a bank’s viewpoint of your ability to pay them back. Your loan may also be capped at a lower amount to help the lender lessen its risk, and you may even have to offer more collateral to secure a loan.




To be fair, one reason these loans carry such comically (or tragically) astronomical APRs is their short payback periods. If you’re paying $50 in interest and fees to borrow $300 over the course of 12 months, that’s an APR of about 29%– credit card-esque, but not appalling. Shorten the time frame to one month, however, and you’re looking at an APR of 300%– and that’s loan shark territory.

Guaranteed Bad Credit Personal Loan– Why Use It?

When used properly, good loan can be the tool you need to get a handle on your finances, find some breathing room in your budget, and improve your credit. We have often  found providers we work with to be the most transparent in the bad credit loan category.

When it comes to getting a loan with really, really bad credit, your options are limited … and usually not very good. The loans that do exist are often of the “payday” variety: low-dollar, short-term, and high-interest loans based not on your credit score but your regular income– which lenders gain access to through your checking account. While a payday loan can provide much-needed cash in an emergency, the industry is plagued by accusations of predatory practices that trap vulnerable borrowers.




Borrowers with better credit are rewarded with lower rates, so if you’re able to hold off and improve your credit score, you might be able to qualify for a much better rate in a year or so. In the meantime, you also might find the best credit cards for bad credit helpful.

When that happens, they can roll over the loan for another couple of weeks– making the original loan even more expensive, and risking entry into a vicious cycle of debt. In a comprehensive study of the payday loan industry, the Consumer Financial Protection Bureau found that two-thirds of payday loans went to repeat borrowers who had seven or more transactions in a year, and the majority of borrowers paid more in fees and interest than they initially borrowed.

Before accepting an unsavory loan offer, be sure that you have no other options, and that you can definitely pay back the entire loan when it’s due.

How Can I Fix My Bad Credit to Get a Better Loan?

Because even the most sympathetic lender won’t give you a great APR if you have bad credit, we recommend making every effort to give your a bad credit a boost before resorting to a loan. It’s not a quick process, but the effort will be more than worth it in the long run. Here are a few of your first steps to better credit:

Guaranteed Bad Credit Personal Loan Requires You Get to know your credit report.

Is your credit as bad as you think it is? Check out our guides on the Best Credit Report Site and the Best Free Credit Report Site if you need recommendations.


It’s probably pretty obvious that you need to pay your bills on time to raise your credit score. Less obvious might be that making smaller payments more frequently can help, too, because it can show you’re using less of your available credit– a good thing for your credit score– when credit bureaus look at your data.

Don’t use most of your available credit, even if you pay it off on time. Your credit utilization ratio– your outstanding balance vs. your total credit limit– should be no more than 30%, but 10% or less is ideal, experts say.

Got a credit card you don’t use? Again, having credit that you actually don’t use is good for your score. Having the same account open for several years also lengthens your credit history, which has a positive effect on your score.

IF you need more tips on repairing your credit, take a look at our in-depth article, How To Raise Your Credit Score.


What Kind of Loans Are There for People with Bad Credit?

Authorities warn against getting a loan from lenders who don’t thoroughly check your credit history, settlement ability, and other financial circumstances. If you die or become disabled, you should also be wary of expensive insurance add-ons that ensure the loan will be paid back.

Personal loans.

If you have very bad credit report, secured loans can be a viable option– it will be easier to qualify and you’ll receive more favorable terms, such as a higher loan amount and a lower APR. You must be absolutely sure you can repay your loan on time or you could lose whatever collateral you’ve agreed to use– typically, your home, car, or savings account.

Loans for bad credit range from conventional personal, auto, and home loans with less-favorable terms to short-term, no-credit-check loans like payday and auto title loans.  All have cons and pros, but some are a much wiser choice than others– and some should be avoided entirely.

Another option is getting a co-signer with better credit to sign for a loan with you. The loan provider will then use the co-signer’s credit to determine the stipulations.




Personal loans for bad credit, available through brick-and-mortar banks, credit unions, and online lenders including those profiled above, are loans made for any purpose. The amount the lender will be willing to part with varies widely based on your credit and whether the loan is secured (backed with collateral that your lender can seize if you can not pay back the loan) or unsecured (no collateral required).

If you want to do business locally, credit unions can be a particularly good choice because they might be more flexible with their lending criteria than bigger banks– especially if you’re a longtime customer.

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