Adverse Credit History, Bad Credit Loans Mortgages Credit Cards

Adverse Credit History

Adverse credit history, or poor credit history, is all down to credit agencies exploring your ability to pay bills and debts on time. If you do not do this, they will give you a low credit score which then flags up to an potential lenders that you are a high risk borrower. This has a [...]

Adverse Credit Loans

Having adverse credit no longer means that you cannot access financial products. Bad credit loans do exist and getting one of the poor credit loans is no longer an enigma. Whether you are looking for an unsecured loans with bad credit or a secured bad credit loan, there are several options and specialised companies out [...]

Adverse Credit Mortgages

Poor credit mortgages are available out there – somewhere ! Getting a poor credit loan, especially an adverse credit mortgage is easier now than ever as more and more people are plagued with bad credit history. Some may say if you have a bad credit rating, should you be looking to commit to a poor [...]

Adverse Credit Cards

What is an adverse credit card? It’s a credit card for people with bad credit. The interest rates will normally be very high, but if you can stay within the limit, and pay the monthly payments each month, you can eventually improve your poor credit score. The more months you pay on time, the more [...]

Adverse Credit

What is adverse credit?

Well, adverse credit can also be referred to as poor credit history, bad credit history and impaired credit history. Quite simply, credit agencies monitor how you pay your commitments each month ie do you pay on time, are you a late payer or do you miss payments completely? They then collate all this information about you, going back years. They then assign you a credit score, also known as your credit rating. If you are really struggling with debt, we recommend iva.net which runs a government backed scheme to write off debt.

Should that not be the answer for you, perhaps try a bad credit personal loan which you may be able to use to consolidate your debts. Be aware though that it is not easy to get loans at the moment with a bad credit history and please make sure you can afford the repayments.

What is a poor credit rating?

Also referred to as bad credit rating, this is when you have been judged by the credit agencies as having a bad track record for paying credit back. So how does a bad credit rating prevent you from getting a loan or credit card? Financial institutions obtain your credit file from these credit agencies every time you make an application, whether that be for a catalogue, credit card, loan or even car insurance. Your credit score is what they use to deem if you are a bad risk.

Bad credit rating and new credit

If you are applying for new credit and you have a bad credit rating it is likely you will be refused. Sometimes you may get offered a lower amount to borrow but the interest rates may be higher because your bad credit rating will make you a higher risk ( ie higher chance you won’t pay than someone else with a good credit rating)

What do I do if I have adverse credit?

You can look at your payment behaviour and become a model payer. Pay all bills and debts on time and over the years your low credit score will increase. Or if you think some information may be wrong on your credit file, you can contact the agencies and ask to have it removed.

The last choice is to consider borrowing from an adverse credit lender who specialise in bad credit ratings. All finance for bad credit will cost more, but even with a poor credit rating you can apply for adverse credit cards, loans or mortgages.

Adverse Credit