Где взять кредит с плохой кредитной историей нерадивому заемщику. Расскажем о способах получения кредитов с испорченной историей.

Если кредитная история по каким-то причинам испорчена, иначе говоря, плохая, не стоит отчаиваться. Да, некоторые банки впоследствии откажут в кредите, но это не значит, что деньги взаймы больше вообще никто не даст. Портал Credits.ru рассказывает о том, где взять кредит с плохой кредитной историей.

Кто такие проблемные заемщики

К проблемным заемщикам относят судимых лиц, людей моложе 18 и старше 65 лет; лиц, указавших в заявке недостоверную информацию, а также людей, имеющих негативную кредитную историю. В понимании банковских работников плохая кредитная история — это наличие просроченной задолженности по кредиту или займа, выплаченного банку только после обращения кредитора в суд.

Как и где взять кредит с плохой кредитной историей

Перед тем как отправиться в банк оформлять кредит, нужно тщательно взвесить свои шансы. Сотрудники банка в первую очередь проверят кредитную историю заемщика.

Портал «Кредиты.ру» рекомендует сначала самостоятельно обратиться в Бюро кредитных историй, чтобы убедиться в каком состоянии находится кредитная история. Один раз в год это можно сделать бесплатно.

В Бюро кредитных историй хранятся все данные о заемщиках, выданных им ранее кредитах и данные о своевременности погашения долга. Именно на эти данные опираются крупные банки при выдаче кредитов населению.

Но конкуренция среди банков на рынке кредитования очень высокая, поэтому они не будут лишний раз оказываться от потенциального клиента, пусть даже и с плохими анкетными данными. Обычно, если ежемесячные выплаты по кредиту превышают 50% дохода заемщика, банк может отказать в выдаче кредита. Но если официальная зарплата заемщика очень высокая, кредиторы нередко закрывают глаза на плохую кредитную историю.

Особые условия

Если приглядеться к программам кредитования различных банков, то нетрудно заметить, что условия для добросовестных заемщиков всегда выгоднее. Предлагая специальные программы заемщикам с плохой кредитной историей, банк всегда перестраховывается и предусматривает возникающие риски. Процентная ставка по таким программам заметно выше, а сумма займа сведена к минимуму. Самый сложный вариант будет с ипотекой, получить ее заемщику с плохой кредитной историей шансов очень мало.

Экспресс-кредит

Заемщикам с плохой кредитной историей в экспресс-кредитах банки отказывают редко. Обычно кредиторы закрывают глаза на наличие былой просрочки потенциального заемщика. Здесь ключевую роль для банка играют высокие процентные ставки по кредиту. Да и размеры сумм по экспресс-кредитам обычно небольшие. Специалисты банка только «для галочки» позвонят на работу заемщика, чтобы удостовериться в трудоустройстве человека, и через 15-30 минут одобрят кредит. В сложной ситуации с оформлением кредита могут помочь и легальные кредитные брокеры. У них большой опыт работы, поэтому они могут дать действительно дельный совет. Даже информация о том, какие банки больше внимания обращают на погрешности клиентов, будет как нельзя кстати. Частные инвесторы — тоже вариант. Проценты там выше, но когда срочно нужны деньги, многие аземщики идут и на это.

Нужно удостовериться в добросовестности кредитного брокера – убедиться в наличии лицензии, почитать отзывы в интернете. И следует соглашаться заплатить денежное вознаграждение брокеру только после положительного ответа по кредиту.

Ломбарды

Многие знакомы с таким видом кредитования. Заемщик оставляет в ломбарде залог (машина, драгоценности и прочее), а взамен получает деньги на небольшой срок. Проценты на полученную сумму будут «тикать» еженедельно или ежедневно, но зато на руках будет необходимая сумма денег.

Кредитка

Некоторые банки выдают заемщикам кредитные карты с небольшим денежным лимитом, на который распространяется льготный период в 50 дней. В течение этого времени за пользование картой кредитор не будет взимать проценты. Если заемщик будет аккуратно погашать задолженность по такой карте, то это положительно повлияет на восстановление кредитной истории. Зачастую этот способ намеренно используется для восстановления кредитной истории. Эксперты советуют использовать несколько таких кредиток на протяжении долгого времени (например, года), тогда можно будет ходатайствовать, чтобы в кредитную историю внесли запись о добросовестном погашении новой задолженности.

Русский авось

Иногда заемщикам с плохой кредитной историей удается найти лазейку, чтобы получить кредит. Она заключается в том, что не все банки может интересовать ваша кредитная история. Небольшой региональный банк вполне может и не поинтересоваться кредитной историей заемщика. Но тут возникает еще один нюанс. Уже при оформлении кредита заемщика, скорее всего, спросят о прошлых кредитах. Если ответить, что их не было, а потом правда всплывет, то ситуация еще более осложнится.

Работа над ошибками

Заемщику с плохой кредитной историей, прежде чем влезать в долги, следует задуматься о ее исправлении. Именно с этого и надо начинать. Заемщику придется доказать, что он исправился и ему можно доверять обязательства по кредиту. Предстоит на протяжении нескольких лет исправно платить по всем счетам. Также можно положить деньги на краткосрочный депозит – банк это учтет в будущем при рассмотрении заявки на кредит. Если заемщик претендует в будущем на крупный займ, то показать себя с хорошей стороны можно через мелкие краткосрочные кредиты, погасив их за несколько месяцев. Только после этого можно делать заявку на новый более крупный кредит и писать заявление с просьбой указать в кредитной истории новые благоприятные данные.

Из вышеперечисленного видно, что варианты кредитования есть и у проблемных заемщиков. Главное, нужно не забывать, что новое неисполнение финансовых обязательств перед банком будет фатальным. Еще одного шанса исправить ситуацию заемщику никто не даст.

Анфиса Храмова, редактор-эксперт

Яндекс.Кью

Теоретически (то есть по существу, а не как идеологические штампы) все три названных понятия на самом деле лежат немного в разных плоскостях, поэтому их «сильные стороны» относительны – примерно как «плюсы и минусы» оружия холодного и огнестрельного, или интерфейса текстового и графического.

Капитализм, то есть рыночная экономика, сложился постепенно исторически, и не было какой-то единой самостоятельной идеологии, которая называлась бы «капитализм» и призывала его строить. А были например либеральные учения о неприкосновенности частной собственности, но это всё появлялось уже как отражение существующей экономической практики, а не было «проектом будущего». «Проектами будущего» в Новое время были утопии (Компанелло, Томас Мор, Сен Симон, Оуэн и др.) – т.е. фантазии, каким могло бы быть совершенное, справедливо устроенное общество. Первой утопией называют «Государство» Платона, слово «утопия» придумал Мор; а уже в XIX веке Маркс создал формационную теорию экономического прогресса человечества и подвёл под идею «светлого будущего» научное (по крайней мере, он так полагал) обоснование – именно в этой теории появились как таковые «капитализм», «социализм» и «коммунизм». Капитализм здесь стал обозначать «этап социально-экономического развития», следующий за феодализмом (подробнее см. Общественно-экономическая формация, Марксизм), а «коммунизм» – такое обозначение получило ГИПОТЕТИЧЕСКОЕ БУДУЩЕЕ СОСТОЯНИЕ ЧЕЛОВЕЧЕСТВА, в котором противопоставление человека и власти исчезнет, таким образом ИСЧЕЗНЕТ как таковое и ГОСУДАРСТВО, всё необходимое будет производиться в достатке и распределяться по разумным потребностям, человек будет занят саморазвитием и творчеством. В качестве переходной к коммунизму формы мыслится «социализм» – то есть государство пока не упраздняется, а напротив усиливается, берёт на себя ответственность за развитие и защиту граждан.

Заметим, что, согласно диалектике, переход между формациями происходит постепенно, предпосылки и условия для новой формы созревают и накапливаются внутри формы старой – поэтому когда происходят революции (строго говоря, конкретно революции не обязательны), они лишь внешне фиксируют и оформляют те изменения, которые фактически уже произошли в ОБЩЕСТВЕННЫХ ОТНОШЕНИЯХ.

Таким образом, главное отличие в том, что капитализм складывается стихийно – как равнодействующая сумма частных интересов хозяйствующих индивидуальных субъектов – а коммунизм приходится СТРОИТЬ – то есть усилием сознания и воли. При этом «строительство коммунизма» выступает как теоретическое движение к далёкой цели, а социализм – как конкретная практика разумных, осмысленных справедливых преобразований в том обществе, которое есть в наличии.

Поэтому говоря о «плюсах и минусах» капитализма и социализма, мы не сравниваем эти понятия как таковые (они несравнимы), а лишь обсуждаем какие-то конкретные меры в конкретной ситуации – что́ должна была бы поддержать власть в данный конкретный момент в данной стране в текущих условиях.

Сравнить эффективность экономики капиталистической и социалистической в чистых экспериментальных условиях не представляется возможным, потому что на практике мы имеем конкретную исторически обусловленную ситуацию, конкретных людей, предприятия, ценности, законодательство (по сути, весь мир сейчас в переходной от капитализма к социализму форме), а конкуренция между государствами определяется политическими (историческими) соображениями. Но в теории при прочих равных – социалистическое общество не только справедливее, но и экономически эффективнее любого капиталистического.

Плюсы капитализма в том, что он естественен и может достаточно быстро удовлетворить основные потребности, но минус в том, что производится не то, что полезно, а то, что приносит прибыль, особенно быструю, поэтому мало думают о дальних последствиях и постоянно придумывают и рекламируют новые потребности, которые рассеивают жизнь человека. Плюсы социализма в том, что человеку не приходится постоянно думать о выживании, а он может заниматься саморазвитием, но минус в том, что для его реализации нужно много образованных и идеологически сознательных кадров, централизованные системы планирования не всегда могут быстро реагировать на меняющуюся ситуацию. В то же время именно социализм создаёт централизованные системы реагирования, такие как МЧС или всеобщая система здравоохранения – так например коронакризис показал эффективность нашей массовой медицины, базовая структура которой была построена как раз при советском строе.

90000 How to Get a Loan if You Do not Have a Job 90001 90002 It’s possible to qualify for a loan when you’re unemployed, but you’ll need solid credit and some other source of income. 90003 90002 Whether you are unemployed unexpectedly or by choice (in the case of retirement), lenders will consider extending you a loan as long as you can persuade them you can make regular payments on time. 90003 90002 More specifically, lenders will want to see: 90003 90008 90009 90010 Strong credit history 90011: A pattern of timely payments on your credit report, with few to no late or missed payments (especially in recent years), can reassure lenders that you manage debt responsibly.Most lenders also prefer credit reports that are free of negative events such as bankruptcies or foreclosures. 90012 90009 90010 Credit score 90011: Lenders typically set minimum credit score requirements for different types of loans, and they reserve their best loan offers-the ones with the lowest interest rates and fees-for borrowers with FICO 90016 ® 90017 Scores 90016 ☉ 90017 in the very good or exceptional ranges. Credit scores are calculated using data from your credit reports, so if your credit history is in good shape, your credit score has a solid foundation.But before you apply for a loan, you may be able to give your score a left fairly quickly (within a few months) by paying down any credit card balances that exceed 30% of their cards ‘borrowing limits, or instantly with Experian Boost ™ 90016 † 90017. 90012 90009 90010 Regular income 90011: Lenders need to know you’ll be able to make your loan payments each month. It does not have to be from a paycheck, but you must have one or more sources of income that are reliable and sufficient to cover your monthly expenses, with enough left over to cover your loan payments.See below for a list of income sources lenders consider acceptable. 90012 90027 90028 Can I Qualify for a Loan With Alternate Income? 90029 90002 If you can not provide proof of employment, your lender will want to review your financial records to verify other source (s) of income. While unemployment benefits can represent a portion of your income stream, their temporary nature means you should not rely on them alone. Other forms of income lenders may accept include: 90003 90008 90009 Social Security benefit payments 90012 90009 Pension funds or other retirement benefit payments 90012 90009 Disability income 90012 90009 Alimony or child support 90012 90009 Government annuity payments 90012 90009 Regular proceeds from a trust 90012 90009 Recurring interest or dividend payments 90012 90009 Veterans Affairs benefits 90012 90009 Public assistance 90012 90009 Income from your spouse or partner (if they’re a cosigner on the loan) 90012 90027 90002 In addition to proving income streams, you may also be able to qualify for a loan by showing evidence you have access to a significant supply of cash, whether that’s now (in a savings account, for instance) or later.A few situations a lender may accept: 90003 90008 90009 A pending employment offer or contract for freelance work 90012 90009 Pending sale of real estate, securities or other investment property 90012 90009 An upcoming inheritance 90012 90027 90028 What to Consider Before Taking Out a Loan While Unemployed 90029 90002 Before taking out any loan, regardless of your employment status, it’s important to be honest with yourself about your ability to fully repay the loan as agreed. Missing just one payment can do significant damage to your credit, and defaulting altogether will put a major blot on your credit history.90003 90002 Be realistic about your ability to cover the monthly payments for the life of the loan. If there’s any doubt, consider skipping the loan or borrowing a lower amount you can comfortably repay. 90003 90002 Depending on the nature and volume of your income sources, lenders may consider your unemployment reason for caution, which could cause them to alter their loan offer in several ways, including: 90003 90008 90009 Lowering the loan amounts you’re eligible for 90012 90009 Expecting full repayment of the loan in a shorter period of time 90012 90009 Charging higher interest rates and possible origination fees to offset costs of pursuing payment if you default on the loan 90012 90009 Requiring payment via automatic deductions from your bank account to reduce the chances you’ll miss a payment 90012 90027 90028 Where to Get a Personal Loan 90029 90002 A personal loan, which does not require you to secure it with property such as real estate or a car, is the type of loan best suited for getting ready cash quickly.Personal loans are available from many lenders. 90003 90002 A great place to start looking for any loan, unemployed or not, is the financial institution where you have your checking account. Even in a world of automated decision making, an established relationship can still work in your favor. 90003 90002 If your preferred institution is a bank, consider applying for a loan at a local credit union as well. Credit unions often have competitive rates and may also have lower credit score requirements than banks.If they extend a loan offer you want to take, you’ll have to become a credit union member before the loan is processed. Membership usually requires an open account with at least a few dollars in it-a small price for a good deal on a loan. 90003 90002 Online financial institutions, including peer-to-peer lending sites, typically provide quick lending decisions, and it’s easy to use them to submit multiple applications at once. 90003 90002 Online services, such as the Experian CreditMatch ™ personal loan finder, can show you loan offers suited to your FICO 90016 ® 90017 Score.90095 90003 90028 Can I Get a Loan if I Have Bad Credit? 90029 90002 If your credit is poor, it can make it harder to get approved for a loan. But if you’re a little creative, very persistent and willing to accept a higher interest rate, there are ways to get a loan, even with less-than-ideal credit. 90003 90002 If you can wait a few months before applying for a loan, it might also be wise to consider taking steps now to spruce up your credit score. You can not convert a middling score to an excellent one overnight, but depending on your starting score, a few extra points could mean you’ll get better deals on loan offers, in terms of interest rates and fees.90095 90003 90028 What Happens if I Do not Qualify for a Loan? 90029 90002 If you do not qualify for a traditional loan but really need some working cash, the following alternatives could help you get some money to help you with your financial needs: 90003 90008 90009 90010 Reapply with a cosigner 90011: Enlisting a friend or family member with good credit and regular employment could help you qualify for a loan But if you fail to make your loan payments, you could damage the cosigner’s credit and cause them to be held responsible for paying off the loan.90012 90009 90010 Home equity line of credit (HELOC) 90011: If you’re a homeowner and have been making mortgage payments long enough to have significant equity in your house, you may qualify for a line of credit that lets you borrow against it. 90095 A HELOC works like a credit card, allowing you to borrow against a set limit (a portion of your equity) and enabling repayment, with interest, in monthly payments of variable amounts. If you default on a HELOC, however, you can lose your home. 90012 90009 90010 Car title loan 90011: If you own your car outright (you do not owe any payments on it), you can use it as collateral on a loan.But if you miss a payment on a car title loan, the lender can seize your car. 90012 90009 90010 Cash advance 90011: Many credit cards let you make cash advances at ATMs, usually at an interest rate considerably higher than the one that applies to regular purchases. 90012 90009 90010 Pawnshop 90011: Selling items of value through an online marketplace can be a way to raise cash quickly, but if that does not work, pawning or selling items of value at a pawnshop is another option. 90012 90027 90002 Sudden unemployment can be a major source of stress, and a personal loan can help cover expenses so you can focus on job-hunting.Take care to borrow only what you need, and what you’re sure you can repay once you’re back on solid ground. 90095 90003 90002 90135 90016 † 90017 The information provided is for educational purposes only and should not be construed as financial advice. Experian can not guarantee the accuracy of the results provided. Your lender may charge other fees which have not been factored in this calculation. These results, based on the information provided by you, represent an estimate and you should consult your own financial advisor regarding your particular needs.90138 90003.90000 How to Get a Home Loan With Bad Credit 90001 90002 If you know your credit is on shaky ground and you’re starting to think about buying your first house, you may be nervous about your chances. First, some good news: You may be able to get a home loan with bad credit. However, as you might have already guessed, having a poor credit history can make the process trickier and more expensive. 90003 90002 If you’re not in a rush, you could be better off focusing on improving your credit before buying a house.But if you need to move and renting is not an option, you’ll want to learn about the different programs available to borrowers with low credit scores. 90003 90006 Check Your Credit Reports and Scores 90007 90002 Checking your credit reports and scores early in your house hunt can give you a sense of which home loans are realistic options. 90003 90002 What qualifies as a good or bad credit score can vary depending on the lender and the type of credit score (there are many different credit scores).However, most mortgage lenders will review your credit reports from Experian, TransUnion and Equifax, as well as FICO 90011 ® 90012 Scores 90011 ☉ 90012 based on each report. They typically use the middle score to help determine whether you get approved and to set your interest rate and repayment terms. 90003 90002 FICO 90011 ® 90012 Scores range from 300 to 850, which are then divided into five score ranges: 90003 90020 90021 90022 Very Poor: 90023 300 — 579 90024 90021 90022 Fair: 90023 580 — 669 90024 90021 90022 Good: 90023 670 — 739 90024 90021 90022 Very Good: 90023 740 — 799 90024 90021 90022 Exceptional: 90023 800 — 850 90024 90041 90002 The higher your score, the more options you’ll have for credit, including home loans.90003 90002 If your middle score is below 500, you might not be able to get approved for a home loan and may have to focus on building your credit first. 90003 90002 With a middle score of at least 500, a government-backed FHA loan could be an option if you can afford a 10% down payment. There are also government-backed mortgages with middle-score requirements of 580, 620 or 640 and lower down payments. 90003 90002 Once your credit score is in the mid-600s, you may start qualifying for non-government conventional mortgages directly from mortgage lenders.90049 90003 90006 Getting a Home Loan With Bad Credit 90007 90002 Unfortunately, getting approved and getting a good interest rate are not the same thing. 90003 90002 The low mortgage rates that you see advertised are generally reserved for borrowers who have very good or exceptional credit scores. Having a low score often means you’re stuck with a much higher rate. 90003 90002 Because mortgages are often very large loans that take decades to repay, even a 1% or 2% increase could lead to paying tens of thousands more in interest over the lifetime of your loan.So no matter what your credit scores, you’ll want to compare your loan options to get as low a rate as possible. The Consumer Financial Protection Bureau (CFPB) has a mortgage interest rate tool you can use to compare rates based on your state, credit score range and loan details. Government-backed mortgages, such as FHA and VA loans, are often a good starting point if you have poor credit. 90049 90003 90006 FHA Home Loans 90007 90002 The Federal Housing Administration (FHA), part of the U.S.Department of Housing and Urban Development (HUD), has a home loan program that can help consumers with poor credit. Under the program, the FHA will not actually lend you the money. Instead, it insures home loans, meaning the FHA will repay the lender if a borrower defaults on a mortgage. The lenders can therefore be more lenient about credit and income requirements. 90003 90002 Lenders need to follow the FHA’s guidelines and requirements, though. To qualify for an FHA loan, you’ll need: 90003 90020 90021 Proof of employment.90024 90021 A middle credit score of 580 with a 3.5% down payment, or 500 with a 10% down payment. 90024 90021 Generally, your monthly debt payments can not be more than 43% of your monthly gross income (income before taxes), or 31% after including your mortgage and other home-related expenses, such as property taxes. 90024 90041 90002 There are other requirements as well. For example, FHA loans have a maximum loan amount, which varies depending on where you’re buying a home. 90003 90002 In general, FHA loans might be more expensive than conventional loans for buyers with good credit or who can afford at least a 10% down payment.However, the FHA route could be the better option if you have poor credit or can only afford a small down payment. 90049 90003 90006 VA Loans 90007 90002 If you’re a service member, veteran or surviving spouse and meet the eligibility requirements, you may qualify for the U.S. Department of Veteran Affairs (VA) home loan program. 90003 90002 The VA backs loans, which is similar to the FHA program in that the VA insures the loan, but a VA-approved lender issues the loan. There are also VA direct loans, where the VA is the lender, available if either you or your spouse is Native American.90003 90002 Technically, there’s no credit score requirement for VA-backed loans. However, many VA-approved lenders require a minimum credit score of around 620. This requirement is still below the common conventional loan requirement of 660, but it’s above the cutoff for some FHA loans. 90003 90002 There are important differences to consider if you’re eligible for both an FHA and a VA loan. For instance, VA loans might not require a down payment or monthly mortgage insurance, but they could have a higher upfront fee.If you think you’ll be moving again soon, it might make more sense to go with whichever loan has the lower upfront fee. 90003 90002 Of course, you’ll also want to compare the interest rates and monthly payments on the loans to see which option best fits your budget. 90049 90003 90006 Savings for First-Time Home Buyers With Bad Credit 90007 90002 If you have poor credit and are a first-time home buyer, you might also qualify for assistance programs. And do not let the title throw you off: The definition of «first time» varies.Even if you’ve bought a home before, you may still qualify as long as it’s been several years since you last owned a home. 90003 90002 Local and state governments, along with nonprofit organizations, often run these assistance programs. The requirements can vary, but may include buying a home in a specific area, having a low or medium income, or working as a public service employee, such as a teacher or law enforcement officer. 90003 90002 The benefits also vary among first-time homebuyer programs.The programs might: 90003 90020 90021 Help you get a lower interest rate on your mortgage. 90024 90021 Cover part of your down payment or closing costs. 90024 90021 Offer you a no-interest loan to pay for your down payment or closing costs. 90024 90041 90002 To find first-time buyer programs in your area: 90003 90020 90021 Look on your state’s Housing Finance department website. Here’s a directory of the states ‘websites. 90024 90021 Go to the HUD page for your state and review the local resources and homeownership counseling options.90024 90021 Search the Down Payment Resource directory. 90024 90021 Search «first-time homebuyer programs» online. Include the name of your state or county for more localized results. 90024 90041 90006 Mortgage Lenders Consider More Than Credit Scores 90007 90002 While your credit can be an important factor in determining whether you can get approved for a mortgage, it’s not the only factor. In some cases, you may be able to make up for having low credit scores if you have an otherwise good financial situation.90003 90002 Here are some examples: 90003 90020 90021 90022 A large down payment 90023 could make it easier to qualify for a home loan and help you get a lower interest rate. 90024 90021 Your 90132 debt-to-income (DTI) ratio 90133 can be an important factor. A lower DTI is better when you’re applying for a home loan. 90024 90021 Adding a 90022 creditworthy cosigner 90023 to your application can also help. However, the cosigner will be legally responsible for the mortgage payments, and the mortgage could impact their creditworthiness and increase their DTI ratio.90024 90021 Having 90022 few or no debts 90023 could ease lenders ‘concern about your ability to manage bills. 90024 90021 If your 90022 mortgage payments are similar to your rent payments, 90023 lenders may appreciate that your monthly payments will stay steady. 90024 90021 A 90022 large savings balance 90023 could show lenders that you’ll be able to afford your mortgage payments even if you’re faced with unexpected bills or lose your job. 90024 90021 A 90022 long work history 90023 with your current employer, or in your field, may demonstrate that you’ll be able to move up in your industry or quickly find another job.90024 90041 90002 Remember, credit scores attempt to predict the likelihood that someone will not be able to repay a debt on time in the future. So, whether it’s your cash savings or employment record, showing your financial stability and ability to cover future bills could help your application. 90049 90003 90006 How to Improve Your Credit Scores Before Buying a Home 90007 90002 Even if you really want to buy a home right away, it might make more sense to work on your credit first. Particularly if you’re already struggling with bills, taking on a new, large financial commitment could stretch you beyond your means.90003 90002 There are many ways to improve your credit scores. Here are a few tips: 90003 90020 90021 90022 Continue making on-time payments. 90023 Making credit card and loan payments on time is one of the best ways to improve your scores. Even if you can only afford minimum payments, that’s better than missing a payment altogether. 90024 90021 90022 Pay down revolving debt. 90023 Your credit utilization rate is the percentage of your available revolving credit that you’re using, and it’s an important factor in determining your credit scores.Paying down your revolving debt, such as credit cards and lines of credit, can help lower your utilization rate and increase your scores. 90024 90021 90022 Keep your credit cards open. 90023 You could cut up a credit card or lock it away somewhere if you do not want to be tempted to use it. However, closing a credit card account will lower how much available credit you have and could increase your utilization rate. 90024 90021 90022 Build your credit file. 90023 If you have fewer than five open accounts or no recent activity on on your credit report, you may have a «thin file,» which can make getting approved for new credit accounts difficult.You may want to use your credit card accounts to add recent activity to your credit reports. Or, if you do not have any accounts, trying opening a secured credit card, use it to make a small purchase each month, and pay your bill in full by the due date to build a positive credit history. 90024 90021 90022 Time your applications. 90023 Applying for new loans or credit cards can also lead to a hard inquiry, which can hurt your scores. Hard inquiries stay on your credit report for two years, but generally, their impact on your scores only lasts a year or less.It may be best not to apply for any new accounts once you’re several months away from applying for home loans. 90024 90021 90022 Think twice before filing a dispute right before applying for a home loan. 90023 An error on your credit report, such as a late payment that you’re certain you paid on time, could be hurting your scores. Disputing the error and having it removed or corrected could improve your scores. However, the process could take 30 to 45 days, and you might have trouble getting approved for a mortgage while there’s a pending dispute on your credit report.If possible, check your report for problems several months before you plan to apply for a home loan. 90024 90041 90002 If you have bad credit but are not at the very bottom of the score range, you may still be able to qualify for a home loan, but you likely will not get a great rate. Consider your mortgage options and look for loan assistance programs to help you get as good of a deal as possible. However, if you’re able to put off the purchase while you work to improve your credit scores, that could save you a significant amount of money over time.90049 90003 90194 90002 90022 Want to instantly increase your credit score? 90023 Experian Boost 90011 ™ 90012 helps by giving you credit for the utility and mobile phone bills you’re already paying. Until now, those payments did not positively impact your score. 90003 90002 This service is completely free and can boost your credit scores fast by using your own positive payment history. It can also help those with poor or limited credit situations. Other services such as credit repair may cost you up to thousands and only help remove inaccuracies from your credit report.90003.90000 5 Effective Ways to Get a Loan with Bad Credit 90001 90002 If you’ve had the wind knocked out of your credit scores due to financial problems, or because you’re struggling to build credit for the first time, it can be challenging to get a loan. It’s critical to understand the factors that affect your credit and how to build it. You might be surprised to learn that you have more options than you think. I’ll give you five ways to find a loan, even with bad credit.
90003 90002 Having bad credit or no credit is a major stumbling block to getting a traditional loan.90003 90002 Having bad credit or no credit is a major stumbling block to getting a traditional loan. Lenders view you as a high-risk customer who might not repay them. It’s just a fact that until you raise your credit scores, you will not fit standard lending guidelines that traditional big banks have to follow.
90003
90008 Factors that affect your credit scores 90009
90002 A common credit misconception is that you only have one credit score. Although FICO is probably the most well-known type of score, there are hundreds of different credit scoring models used by mortgage lenders, credit card issuers, insurers, and merchants.There are even multiple types and versions of FICO scores.
90003 90002 Credit scoring models use algorithms to crunch the data in your credit reports, which are maintained by several nationwide credit bureaus, including Equifax, Experian, and TransUnion. Here are ranges for some popular credit scores:
90003 90014
90015 90016 FICO Auto Score: 90017 250 to 900 90018
90015 90016 FICO Mortgage Score: 90017 300 to 850 90018
90015 90016 TransUnion: 90017 300 to 850 90018
90015 90016 VantageScore: 90017 501 to 990 90018
90031
90002 In addition to assigning different score ranges, credit scoring models emphasize different factors.For instance, having a missed payment on an auto loan might be weighted more heavily when factored into an auto-scoring model. 90003
90002 The exact formulas of credit scoring models are proprietary. However, FICO says they use the following factors and weights as a baseline for their credit scores.
90003 90014
90015 90016 Payment history (35%) 90017. A record of late payments, accounts in collections, and bankruptcies. This is the top-ranking factor. 90002 90016 Takeaway 90017: Making payments on time is a critical factor for maintaining high credit scores.90043 90003 90018
90015 90016 Amounts owed (30%) 90017. Your debt compared to your available credit, which is known as credit utilization. 90002 90016 Takeaway 90017: Using a smaller percentage of available credit you have on credit cards and lines of credit boosts your credit scores. 90043 90003 90018
90015 90016 Age of credit history (15%) 90017. How long you’ve had credit accounts open. 90002 90016 Takeaway 90017: Having older accounts improves your credit scores. 90043 90003 90018
90015 90016 New credit inquiries (10%) 90017.Applications for new credit accounts can temporarily lower your score. 90002 90016 Takeaway 90017: Applying for credit cards, retail store cards, and loans only when you genuinely need them improves your credit scores. 90043 90003 90018
90015 90016 Mix of credit types (10%) 90017. The variety of credit accounts in your name, such as credit cards, auto loans, and mortgages. 90002 90016 Takeaway 90017: Having a mix of credit types helps improve your credit scores. 90003 90018
90031
90002 Due to ongoing changes in these factors, your credit scores fluctuate a few points from month to month.However, an unexpected drop of 20 points or more may indicate a problem that you should investigate right away.
90003 90002 90016 RELATED: 90017 Credit Utilization-What It Means for Your Credit Score
90003 90008 How to check your credit reports for bad credit 90009
90002 Keeping tabs on your credit reports is easy and a smart way to protect your credit and recognize the signs of identity theft. You can view or download your reports every 12 months at the official reporting site, AnnualCreditReport.com.
90003 90002 When you review your credit reports, look for errors and evidence of fraud that may be dragging down your scores without you knowing it.
90003 90002 However, you can get both your credit reports and one or more credit scores as often as you like by signing up at Credit Karma or Credit Sesame. These credit sites give you free credit access, alerts, and helpful information to raise your scores.
90003 90002 When you review your credit reports, look for errors and evidence of fraud that may be dragging down your scores without you knowing it.Problems may include accounts you did not open, inaccurate late payments, account balances, or available credit limits.
90003 90002 If you spot any errors, file an online dispute with each of the credit bureaus using their websites. Then contact the creditor that reported the error and ask them to correct the data. Keep checking your credit reports to make sure the problem gets resolved, and your scores rise.
90003 90008 No credit is the same as bad credit 90009
90002 Many people mistakenly believe that if you have no debt, you must have good credit.That’s not true. Having no credit is the same as having bad credit. To have good credit, you must have credit accounts and use them responsibly.
90003 90002 Without a credit score, lenders and merchants have no way of evaluating how likely you are to repay your bills and will probably deny you credit.
90003 90002 If you have a «thin» credit history, you do not have enough data in your file even to generate a credit score. Without a credit score, lenders and merchants have no way of evaluating how likely you are to repay your bills and will probably deny you credit.90003 90002 90016 RELATED: 90017 12 Credit Myths and Truths You Should Know
90003 90008 How to get a loan with bad credit 90009
90002 If you’ve been turned down for a loan or do not want to get stuck paying high, subprime interest rates, here are five alternatives to consider:
90003 90116 1. Get a home equity line of credit 90117
90002 If you’re a homeowner with enough equity in your property, you may be eligible for a low-interest, tax-deductible line of credit to spend any way you like.90003 90002 Of course, tapping your home equity puts your property in jeopardy if you can not repay the debt. But if you have a reliable source of income and are disciplined about paying down an equity line, it’s an inexpensive option, regardless of your credit score.
90003 90116 2. Try a credit union 90117
90002 Credit unions are nonprofit organizations known for offering high levels of customer service and low fees. They’re similar to banks but are owned by their members, who typically have something in common, such as living in the same county or working in the same industry.90003 90002 To find a local or nationwide credit union, visit MyCreditUnion.gov and Bankrate.com. Then contact the credit union to discuss getting a personal loan.
90003 90002 Compare loans from several institutions so you know you’re getting the lowest interest rate possible before you sign the final paperwork.
90003 90116 3. Use a lending platform 90117
90002 Online platforms that use innovative criteria and technology may be a great alternative to traditional lenders. For instance, peer to peer (P2P) lenders, such as Lending Club, allow you to borrow directly from an individual instead of from an institution.Borrowers post a loan listing that includes the amount they want and why they want it. Investors review loan listings and choose the ones that meet their criteria.
90003 90002 Peer to peer lenders screen all applicants and check your credit, which becomes part of your loan listing. While your credit score is a factor, an individual investor may be more empathetic to your situation than a traditional bank.
90003 90116 4. Take a loan from family or friends 90117
90002 If an online peer will not lend to you, perhaps you have family or friends who will.Treat a loan from those you know just like a business transaction.
90003 90002 To avoid misunderstandings, create a written agreement with the interest rate, payment terms, any collateral you put up for the loan. Do not forget to clarify what happens if you fail to repay the debt. You can get promissory note templates from sites such as Rocket Lawyer or LegalZoom.
90003 90002 A family loan must benefit everyone involved and should be a last resort. You do not want to risk letting a close relationship go sour over a bad debt.90003 90002 If you’re borrowing money to buy a home, the loan must be secured properly to take advantage of the mortgage interest deduction. To properly register and manage a home loan with a relative, check out NationalFamilyMortgage.com.
90003 90002 The bottom line is that a family loan must benefit everyone involved and should be a last resort. You do not want to risk letting a close relationship go sour over a bad debt.
90003 90002 90016 RELATED: 90017 Best Ways to Monitor, Repair and Build Credit
90003 90116 5.Find a co-signer 90117
90002 If you do not have a friend or family member who’s willing to give you a loan, perhaps one with good credit would be willing to co-sign a loan with you. Just remember that if you do not repay the debt, the creditor will look to your co-signer for full payment.
90003 90002 Also, the payment history for a co-signed loan gets recorded on both of your credit reports. That could be devastating for your co-signer if you do not hold up your end of the bargain and make late payments or default.90003 90002 If you exhaust these options and still can not get a loan, stay focused on improving your credit scores by correcting any errors on our credit reports, paying bills on time, and never maxing out credit cards.
90003.90000 How to Get a Loan When You Have Bad Credit 90001
90002 Once you have bad credit, it might seem like you’ll never be approved for another loan again. 90003
90002 While this is partially true, there are a number of things you can do to put yourself in a position where you will be approved. They’re not always instant, cheap or guaranteed, but they always work. 90003

90002 Many people think their credit is so bad that they can not possibly be approved for a loan. Do not fall prey to this mindset.90003
90002 Before you move on to the other types of loans listed below, check out your credit score and credit reports. Once you have this information handy, check the requirements for any loan before applying. 90003
90002 If you can not find them, call the lender and discuss the qualification criteria. In some cases, you will not get a definitive answer. However, this should not stop you from applying for at least one or two loans before you assume your credit is too poor to qualify for a traditional line of credit.90003
90002 You may be surprised to find out you can get approved for a credit card or loan with reasonable interest rates and no fees, even though you feel your credit score is embarrassingly low. 90003

90002 Secured loans are those where you provide a form of collateral as a guarantee you’ll repay your loan as agreed. There are several forms: 90003
90016
90017 Secured loans with cash 90018
90017 Secured loans with property as collateral (such as a car or real estate) 90018
90017 Secured credit cards 90018
90023
90002 In all cases, the value of whatever you provide as collateral will almost always need to be equal to the line of credit you’re applying for.90003
90002 There are some exceptions to this rule, though. If your credit is above 600, you may only be required to provide collateral that equals a portion of the total value of the line of credit. 90003
90002 If your score is below 500, you may be required to provide collateral that is equal to more than the value of the line of credit. In most cases, if the value of your collateral is greater than that of the line of credit, you’ll usually be reimbursed the difference if you find yourself unable to fulfill your obligations.90003
90002 However, secured credit cards are usually the exception to this rule, and missing even a single payment can result in the full forfeiture of your security deposit, as well as the closing of your line of credit. 90003
90002 If you’ve used any form of property as collateral and fail to make your payments, then the bank will seize your asset. 90003
90002 If it’s sold for less than the amount you owe, you’ll be required to come up with the difference. If it’s sold for more, the bank is usually required to give you the difference.90003
90036
90002 90038 «Improving your credit score now will 90039 90003 90041.