Can I get a loan with bad credit?

This very much depends on your individual circumstances. When it comes to personal loans, lenders will look at your credit score to decide whether to offer you a loan and determine your interest rate. Generally if you have bad credit, you will be charged a higher interest rate.

If a personal loan isn’t an option for you, you may still be able to consider:

  • Guarantor loans
  • Homeowner loans
  • Credit builder cards

Although your credit history does play a big part in your eligibility for finance, there are other factors that a lender will consider, such as your income, expenses, size of the loan you are looking for, how much debt you already have and your homeowner status.

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