Your options explained: how to get the money you need, even if you’ve had issues with bad credit before.
How to borrow if you’ve got bad credit – step by step guide: http://www.money.co.uk/loans/how-to-borrow-money-with-bad-credit.htm
How bad is your credit?
Don’t assume you’ve got bad credit if you’ve never checked. There’s no such thing as a credit black list even if you’ve had problems in the past.
Knowledge is power and the first thing you need to do is check your credit file. This will help you understand how good your credit is, and give you a chance to correct any issues that could harm your chances of getting accepted for the loan you need.
Even if your credit score isn’t great there are lots of tricks you can use to improve it quickly.
Simple ways to improve your credit history: http://www.money.co.uk/guides/10-steps-to-improve-your-credit-rating.htm
Mistakes you MUST avoid
Don’t go straight for a payday or high cost loan; this is a really expensive way to borrow and getting one could actually make it harder for you to get credit again in the future. It’s better to look for other options first.
You might think the best place to go first is your bank. In reality they’re no more or less likely to give you a loan to you than any other lender. You’ll still have to go through the same credit and affordability checks as everyone else.
Instead, look for lenders that let you check your chance of acceptance before you apply. This gives you a way of finding out whether you can borrow without hurting your credit history.
If you get rejected by one lender then don’t apply with another straight away as this will do more harm than good. You should be able to find out why you’ve been turned down and can focus on making this right before you apply again.
The brilliant thing is you can check which credit cards you’re likely to get on money.co.uk without actually applying. This is a fear-free way to find out whether this is an option.
Credit card acceptance checker: http://www.money.co.uk/credit-cards.htm
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