Credit score is a score which is decided on the basis of the repayment of the loan taken by a person from any bank, credit card companies or to the government. The higher the credit score the better the loan amount available for the person, thus the credit score is very much important for getting loan.
In many ways having a poor credit is something like being jobless in addition to fact that you are well graduate. You are not established in a correct direction but have a will to do anything to get it.
Why to choose installment loans?
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- It can be applied in a fast and easy way.
- No traditional credit check is included. Thus not affecting the credit score.
- Flexibility in loan repayments
- Faster transfer of money and cheaper than payday loan
- Higher chance of loan approval
Quick Loan Link provides loan which ranges from $300 to $35,000 and the term of loans is some months to 7 years. It requires minimum credit score of 550 and its interest rates starts from 6% to 12%. Loanpioneer also provides loan for bad credit holders and it does not require more credit score or processing charges.
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Badcredit.com is another lender which provides loan to bad credit holders. It carries higher approval rates to approve loan. These loans are useful for the lender to improve the credit score. This site was created to help Americans to find the information and resources they need to make successful credit decisions. It also provides guides to improve financial awareness to the users of the funds.
Money Mutual provides online loans to bad credit holders. They provide short term loans upto $2500. The procedure to acquire loan include filling a form available on their website and funds are available in 24 hours of approval of loan. They have provided loans to more than 2,000,000 borrowers who have successfully improved their credit score.
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Avant is specialized in giving installment loan which are unsecured. They are very much transparent about their terms of loan and fees charged by them. Although they do provide loans for bad credit holders they do have some fixed standards for minimum credit score. It requires minimum credit score of 580 and its interest rate ranges from 9.95% to 35.99%.
The installment loans provide the facilities which are helpful for those who have bad credit. The installment loans provide higher loan as compared to other loans so as to improve the credit on long term. Even the repayment period is longer with smaller installments so that the borrower can pay the debt on time. The monthly repayment is based on the volume of loan and has it divided into smaller repayments. Some companies accept bad credit as all bad credits are not always due to default or incapacity but due to negligence of the borrower. Thus, from this we can see that the installment loans are better for the people who want to go for a loan with the bad credit score.