Demystifying the Link Between Bad Credit Scores and Loan Approval

In today's financial landscape, credit scores significantly determine loan approval and interest rates. This is especially true for traditional lending sources. A credit score is a three-digit number representing an individual's creditworthiness and ability to repay debts. Unfortunately, not everyone has a stellar credit score. Many individuals need help due to a bad credit score, which can make it difficult to secure traditional loans. 

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How to Ensure Financial Stability with a Good Credit Score

Saving money is a habit that anyone can adopt. Even if it is just $25 a month, the amount will eventually add up. With increased earnings, you can gradually increase the amount you save. Sticking to your budget and cutting down on unnecessary expenses will help grow your monthly savings.
Make sure to set aside some savings for an emergency fund that can be used anytime there is a cash emergency or unexpected expense. 

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Do Payday Loans Without a Credit Check Exist?

The number one complaint about payday loans is their high cost. Many times, the APR of the loan is highlighted. But this is the wrong way to look at these truly short term loans. They are fee-based loans, and the fees can be high. Why? Because the lender's risk is remarkably high, and those seeking these loans have poor credit, to begin with. 

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