Helping Yourself To Get Credit

By Author: Alisdair Cosgrove
Total Articles: 184
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In the space of just a year, since the global credit crunch swept across the UK, lending conditions have really changed and conditions in the financial sector have become increasingly difficult.

It has become more and more difficult for many consumers to get any sort of finance, from loans and credit cards to mortgages and car finance, with lenders having really tightened up on their lending criteria and exercising increased caution over who they lend to.

With this in mind it has become all the more important for consumers to do all that they can to help themselves when it comes to finding accordable credit to meet their needs.The world of finance has changed rapidly in the last year, and these days you cannot guarantee that you will be able to get finance, especially if you have damaged credit.

We all need to take out finance every now and again, but with the financial sector still in turmoil over the effects of the global credit crunch getting any sort of finance has become something of a daunting task for most people.It has become increasingly important to be properly prepared before you make an application ...
... for finance these days, because an increasing number of people are finding that they are being refused finance from lenders.

One of the things that will have a major effect on whether or not you are able to get finance is your credit rating, so you need to make sure that you credit report is in order before you make an application for finance. You need to check whether you should even be making an application for finance based on your credit, and to do this you should check the state of your credit report and see what lenders will see when they are checking on whether to offer you finance. You can get hold of a copy of your report with ease from one of the credit reference agencies.

If your credit rating is low, as many people's are these days, then you can spend time improving your rating through making regular payments on debts and bills. In the meantime avoid making finance applications because you will most likely be rejected and this can damage your credit further.Check your credit report for signs up mistakes and out of date information as well, as this can also impact upon your rating. If you notice any inaccuracies contact the credit reference agency to get them sorted out.

The eligibility criteria in place from each lender can vary, so in order to avoid being automatically rejected for finance make sure that you check the requirements with each lender before you make your application, as otherwise you could simply be wasting your time.Doing your research before you apply will help to ensure that you are applying to a lender that meets your needs and requirements.
Alisdair Cosgrove is a freelance writer specializing in personal finance. You can read more of his work at www.JSNet.org for credit card comparisons including prepaid credit cards and also offers a comprehensive list of low rate credit cards. You can read more about credit cards from his on site article, 'credit card grace periods can save money'.