Tips On Getting Credit

By Author: Alisdair Cosgrove
Total Articles: 184
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Since the onset of the global credit crunch last year credit conditions in the UK's financial sectors have really changes, and credit availability has become far more difficult.

Finding any sort of affordable finance these days has become harder and harder, as lenders have put tighter restrictions in place when it comes to offering finance such as loans, mortgages, credit cards, and car finance, making it more difficult for consumers to get the credit that they need.

In order to increase your chances of getting the credit that you need it has become more important to take certain steps that could help to minimise the chances of rejection.For those with damaged credit the chances of getting finance are even more bleak, but in the current financial climate there is no guarantee that even those with pretty decent credit will get finance.

Getting affordable finance these days has become an increasingly difficult task, as many lenders have cut back on the availability of affordable finance, and this has stemmed from the effects of the global credit crunch, which is still ongoing. With more and more people being ...
... turned down for finance from lenders due to the current financial climate it has become more important than ever to ensure that you prepare yourself before you apply for any sort of finance.

One thing that can help to prepare you before you apply for finance is checking your credit report, as your credit status and rating will have a profound effect on whether you are able to get finance or not. In order to check whether it is even worth you making an application for finance you should get a hold of a copy of your credit report, which can be easily obtained from one of the credit reference agencies. You will then be able to see the information that lenders see when making a decision on your application.

Sadly, many people these days do have damaged credit, and with poor credit your chances of getting finance are pretty slim. Instead of wasting your time making an application and risking rejection, which can further damage your credit, spent some time trying to improve your rating through timely and responsible repayments on bills and other financial commitments.When you are looking at your credit report make sure that you check for inaccurate or out of date information, and if you spot anything contact the agency to get it queried, as this could be impacting upon your credit rating.

Another thing that may affect your chances of being accepted for finance is applying to the wrong lender. For instance unless you do your research you may end up applying to a lender whose eligibility criteria you don't even meet.You can make sure that the lender you are planning to apply to caters for your needs by ensuring that you check the eligibility requirements before you make your application.
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, 'common credit card terms'.