Having less than stellar credit can make life a little more frustrating and a little more expensive. But there’s hope! Having bad credit doesn’t have to exclude you from some great loan options that can give your credit and finances the boost you need. We’ve compiled a list of things you can do to improve your chances. You can get approved for a loan with bad credit.
Here are a few ithinkie pointers to help
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- Find a lender that is more lenient with credit score. Lenders like Stilt, Upgrade, Upstart, and SoFi are just a few lenders that accept less than perfect credit and offer reasonable rates.
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- When you have a cash emergency, and the above lenders aren’t an option, there are payday loan alternative options that can help. Lenders like Opploans and Spotloan provide alternative loan products without traditional credit checks. These are more expensive options, so they should be reserved for emergencies.
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- Payday loan apps. There are dozens of apps that offer micro loans with no credit check and instant deposits in your bank account. They use technology to analyze your deposits and spending and determine your eligibility. They usually are interest-free, have a small (often optional) fee. Albert, Empower, and Chime are great places to start. Some require direct deposit into your primary bank account or into the platform’s account. Be sure to compare your options because there are some great ones out there!
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- Ask a family member or friend. Some friends and family may be willing to help you out if you just ask. It’s important for you to treat these most personal loans as seriously as you would a loan from a bank. They can serve to strengthen or deteriorate a relationship.
With all of these options it’s helpful to show a steady income and maybe even a co-signer (if the lender allows for that).
Bad credit doesn’t have to preclude you from making financial moves. Ultimately, you can get approved for a loan with bad credit. You just have to get creative and keep following us for more tips and direction! I would love to hear from you. Feel free to contact us with any questions.
That’s what ithinkie
