Raise your hand if you’ve ever had your credit limit you as to what you were able to do. I’m one of those people, and it’s not fun. You think about the people that are able to leverage credit to make all kinds of big purchases, and you’re stuck looking at what’s left of your paycheck, which is often nothing.
What happens when you need extra funds for any reason? You can always get one of those loans with bad credit where you pay the balance off when you get paid. But that is just going to make you feel like you have less money than you were going to because you only get to enjoy having extra funds until your next payday. The interest rate is so high on these loans that it’s difficult to really make any headway. That’s all you have when it comes to loans for people with bad credit though, right?
The answer to that question is ‘no.’ There are little installment loan companies all over the place, but you’re going to be subject to quite a bit of scrutiny if you are showing up in person to those old school finance companies. Instead, why not look at the companies that are online who service your area for these same types of loans?
There are going to be tons of them, with different interest rates and loan amounts offered. Some of them will be more costly than others, and you’re definitely going to have to pay a higher interest rate than if you had good credit. Still, it’s what you’re looking for, and you don’t have to sit on the sidelines anymore. What are you thinking about buying? Maybe you are just covering bills, or perhaps you’re planning on some home improvement projects. It’s time to get that loan!