Bank loans with poor credit

[joshg_7]

Just wondering, is credit the only thing banks look at? Ive just got myself a secure job offshore with BP which pays well, and i've been told that if the bank see a good wage going in every month then they would lend money?

Anyone help?

[Jonny52002]

Credit rating, what you earn and can repay a month would also contribute would think. Would avoid loans though, learnt the hard way to avoid them and just save up.

[Lacey_106]

you can build up credit rating with a credit card. Thats what I did. As long as you pay off what you spend each month ;)

[Yates]

if you got good wages, why do you need a loan?!

[Lacey_106]

if you got good wages, why do you need a loan?!

Maybe he hasn't got the money yet? Maybe he has bigger plans?

Sure he has the right to spend his money however he likes Mr Yates.

[Jonny52002]

Maybe he hasn't got the money yet? Maybe he has bigger plans?

I would say to that you get more from it (or satisfaction) by saving up rather then going for the quick loan option.

[Carl-h]

I'm improving my rating with a credit card. I buy all my petrol with it (£100-£300 a month) and pay it off every month by direct debit. My credit rating isn't bad (nothing marking me down at all), it's shuts not good because ive never had much credit.

I advise you save up first though tbh. Best way for everything except a house.

[Lacey_106]

I would say to that you get more from it (or satisfaction) by saving up rather then going for the quick loan option.

Sometimes you don't have any choice.

Its all relative though. You end up paying much more back with a loan. For some people doing it that way works better for them.

[Yates]

Maybe he hasn't got the money yet? Maybe he has bigger plans?

Sure he has the right to spend his money however he likes Mr Yates.

just a question dr

but if its a loan its not his money :P

[Lacey_106]

just a question dr

but if its a loan its not his money :P

Thats ok minion. :homme:

he still pays for it each month...

[Yates]

minion? behave!

[Ash1711]

If you have a good wage going in every month and no bad credit then I don't see why they wouldn't lend to you... however... think real carefully before taking out a loan... Where you think you'll be in say 3 years and where you actually will be could be completely different... I took out a loan when i lived with my mum, now im in my own place and wish i didnt have £244 per month coming out of my account... i really need that money now! :@

[Nik_L]

Maybe he hasn't got the money yet? Maybe he has bigger plans?


Well that makes his original question pointless then surely??

[e8_pqck]

Its not the only thing they look at but its the main thing they look asst. I have worked in oil and gas for years and have worked hard to improve my credit rating, I couldn't still don't have a credit card and have been refused last year. Having a bank account that is well managed is a big bonus though, just don't go over drawn but arrange an overdraught will improve your credit score. Open two accounts and keep them both in the black is good also, I say that because an account is easier to get than a credit card

[joshg_7]

I would say to that you get more from it (or satisfaction) by saving up rather then going for the quick loan option.

Never know whats around the corner though do you. I only plan on getting it over 18/24 month, but theres nobody that has the same kind of spare cash in the family to lend me.

[Yates]

Never know whats around the corner though do you. I only plan on getting it over 18/24 month, but theres nobody that has the same kind of spare cash in the family to lend me.

so you want a loan just in case? if thats the case then i seriously would not bother as its there as a temptation, you dont need the cash, wait till you start earning decent cash

[joshg_7]

No I want the cash for a car. But I mean you don't know what's round the corner do if rather get the car asap as opposed to saving. I earn decent amount so can pay it quicker.

[bullit]

I would say to that you get more from it (or satisfaction) by saving up rather then going for the quick loan option.

Nothing wrong with a loan. I just finished my 15k one, you just need to be sensible.

[e8_pqck]

Well check your credit Ref first.use credit expert, others are rubbish. I just found out i've been victim of id theft and now have to go about removing about 30 of applications in my name as well as close accounts and prove i was out the country when some accounts were opened. Nightmare!