Having the highest FICO credit score is not something to be taken for granted. The fact is, borrowers may not be able to get their hands on the credit cards and loans that they deserve because of bad credit scores. But, the good news is, there are lenders who will provide you with the cash you need to get your financial house in order. The key is to know where to look.
Getting the cheapest possible loan will require you to have a stellar credit score and a stable income source. If your credit score is not in the clear, you may be required to provide collateral as security for the loan. While this might sound like a bad idea, it could be a good thing as you could get a better deal on the interest rate.
There is no magic recipe to achieve this feat, but the following tips will help. The most important tip is to be upfront about your credit score, as well as your past credit issues. You can also improve your credit score by paying off your debts in full and on time. You might also want to consider getting a co-signer. This is especially true if you plan to take out a mortgage or refinance your home.
While you are at it, you may want to consider a debt consolidation loan. These are loans designed to help you manage your credit better and are a great way to save you money in the long run. For instance, if you consolidate all your credit card bills into one loan, you can save hundreds of dollars in interest.
You may also consider taking out a cash advance. These loans range in size from a few hundred dollars up to several thousand dollars. While they are expensive, they could solve your immediate financial needs. For instance, you could use this type of loan to pay off your credit cards and reclaim your credit rating in the process.