Credit Card Approval in Five Simple Steps

business-15721_640They are many reasons why having a credit card in your wallet or purse is useful. Probably the main reason is because you can afford to buy things while temporarily low on cash, and then pay it back the following month. Christmas time is a good example of when you might want to use a credit card, especially when you have lot’s of presents to buy.

Being approved for a credit card is not always easy though, and if you’ve tried before but were rejected, then you might want to follow the five simple steps in this article.

Improve your credit rating

One of the main reasons for being rejected by a credit card company is because your credit rating is too low. In other words, they see you as too much of a liability rather than an asset. You should look to improve your credit rating before applying for a credit card.

Credit cards for people with bad credit

If you’re credit rating is really low or you just don’t have the time to improve it, then you could try applying for a credit card that is specifically targeted towards people with bad credit. Your chance of being approved is good, although be aware that the interest rates are higher and your credit limit will probably be low to begin with.

Comparing credit cards

Before approving for any kind of credit card it’s always a good idea to use a credit card comparison site like so you are able to find the best deals for your situation. It’s not uncommon to find 0% interest rate deals, which basically allows you to borrow money for free, although only for a limited time.

Fill-in the application

Once you have found a suitable credit card then you will have to fill-in an application form online before getting approved. This includes basic details such as name, address, work, income level, and previous and current loans and credit cards, although if you don’t like the idea of filling-in an application you can give the company a ring and do everything over the phone.

Being accepted

In some cases you’ll receive an instant decision, but mostly you have to wait a few hours to be notified of the decision If you get a green light then expect the credit card to be posted out to your address immediately, which means you can start using it in a few days.

Just make sure you are sensible with your spending, and never borrow from the card if you know you can’t afford to pay it back in a reasonable time-frame.

How to Get a Car Loan…Even if You Have Bad Credit!

hand shakeWhen it comes time to buy a new vehicle, you will probably need a car loan to secure the deal. However, if you have bad credit, then this is a major problem, as many of the dealerships and lenders out there just don’t want to take the risk.

This doesn’t mean that getting a car loan with bad credit is impossible though. As with anything in life, there is always a way round these kind of problems, and with a little bit of shrewdness on your part, you could soon be driving away from the dealership in a brand new car.

So where do you begin? In our opinion, the first step is to contact one of the many credit repair companies out there? Not only will they be able to advise you on how to improve your credit to get a car loan, but they may even be able to do all of the hard work for you.

In just a couple of months, your credit score could be looking a lot brighter, which means getting a car loan would be a walk in the park.

But what if you don’t have the time to improve your credit score? Maybe you need an instant solution so you can get a car loan in the next couple of days?

If this is the case, then we recommend you seek out bad credit lenders. Forget about the dealerships, they are not your best choice. Instead, an independent lender who specializes in bad credit loans is the only way to go.

Simply search for “bad credit lenders” on Google, and in no time at all you will find a lender willing to give you the money so you can buy a car.

Just make sure you are fully aware of the interest rates attached to the loan, and never borrow more than you can afford to repay, as this will make your life a misery over the next couple of years.

Another important point worth mentioning, is that you should look to buy a car that is affordable. Sure, you might have your eye on that sports car, but is it really worth overextending yourself financially just to buy a car?

Instead, go for a car that is good quality but doesn’t come with a hefty price tag. This way, you won’t need to borrow as much money, which means your chances of being accepted are a lot higher, even if you have bad credit.

7 Reasons Why You Need a Personal Loan

moneyDespite what the media will tell you, not all debt is bad. In fact, there are many different reasons why it can be a good idea to take out a personal loan.

Here are 7 reasons:

To build a good credit history

Are you planning on getting a mortgage or applying for a large loan in the future? If so, then taking out a personal loan now is a simple way to build up a good credit history. The worst thing you can do is never to get a loan, as this will keep your credit rating low.

To get essential car repairs done

Sometimes, there is no other way to find the money for essential car repairs, other than taking out a personal loan. Whether you need to pay a mechanic to fix your car, or buy new tyres from a store such as Tyre Shopper , a personal loan can help.

To pay for essential home improvements

One of the most popular reasons why people get a personal loan, is to pay for essential home improvements. Not only can these improvements improve the quality of your living, but they will also increase the value of your home.

To pay off credit cards

If you are currently paying a high interest rate on your credit cards, then it makes sense to get a personal loan with a lower interest rate. You are then able to pay off the credit cards, and enjoy a lower monthly repayment with the personal loan.

To buy a car

Did you know that getting financed from a dealership is often the most expensive way to borrow money when buying a car? With this in mind, it’s a lot smarter to apply for a personal loan from independent lenders before you start looking at cars.

To pay for medical expenses

You should never put your health at risk just because you don’t have the money to pay for a procedure. If you are not covered by health insurance, then consider applying for a personal loan so you can pay for medical expenses as quickly as possible.

Start a small business

Are you sick and tired of working for somebody else? If this is the case, then you might be ready to take the plunge and start working for yourself. Millions of people now own their own small business, and the quickest way to get up and running is with a personal loan.

3 Places You Can Get a Short Term Loan

pound coinsIt’s an unfortunate fact that many people in Britain are struggling for money right now. Not only that, but the cost of living is rising, which means there is often no other choice but to apply for a short term loan.

Here are 3 places that you can get a short term loan:

Payday loan lenders

Payday loan lenders such as Swift Money are everywhere these days. You can go online to find hundreds of different lenders, or even take a walk down your local high street to find shops offering this service.

Ultimately though, the best place to apply for a payday loan is online. The reason? Because it’s extremely quick and normally the money is deposited into your bank account within a few hours of being approved.

How much can you borrow with a payday loan? That all depends on your circumstances, but the average amount is around £400. This is usually more than enough money to pay off those bills, sort out an urgent repair, or pay back money that you owe elsewhere.

One word of warning. Payday loans do come with higher than average interest rates, which means you will end up paying back significantly more than you originally borrowed. With this in mind, it’s important to understand fully the total amount repayable, so you are not left short on the repayment deadline.


Another place to get a short term loan is from a bank. This can come in many forms, such as an unsecured personal loan, a secured loan, or even a bank overdraft. If you want to find the best option for you, then it’s a good idea to visit your local bank and ask them about what is available.

Please keep in mind, that if you have bad credit, then getting a short term loan from a bank may prove difficult. Since the recent credit crisis, the majority of banks have tightened up their lending criteria, so your credit score could end up working against you.

Pawn shop

Lastly, if you have some items of value, then a good way to get a short term loan is by visiting a pawn shop.

How does this work? Quite simply, you borrow money against the value of your item, which is then placed into “pawn” for a specified amount of time. Once you are ready to reclaim your item, simply go back to the pawn shop and pay the money that you borrowed plus any interest and fees.