what is a sure way to be approved for a loan if you have bad credit?

Answer 1

You will need a co-signer, someone with good credit.

Answer 2

It will take some time to up your credit score. The first thing that I would suggest doing is cancelling any cards that you have that you do not use, since having access to a huge amount of credit can actually count against you because the bank figures that you could go out and turn all that available credit into debt tomorrow if you decided to do so. The second thing that I would suggest is increasing your credit score by getting a secured credit card. With a secured card you go into a bank and open a specific kind of "savings" account. They each have different minimums for the secured card for what you have to put in that account, so shop around for the right bank. Then you no longer have access to that money- it's held as collateral, and you're issued a card that works exactly like a normal credit card. Charge a small item- something that you have the money already set aside for in advance- and pay for it on the card. Now here's the trick-- you don't actually earn a great credit score by automatically paying it off at the end of the month. In order to build credit, you have to have some experience in paying back a debt with interest. So buy something small, make minimum payments for a couple months, and then pay it off. If you do that for six months to a year, you'll see your credit score increase.

Also, keep in mind that a check from an OUTSIDE source (say, when you're getting pre-approved for a mortgage loan and they check your credit score) will negatively impact your credit score for a short time. It does not affect your credit score to check it yourself (though it does cost money).

Otherwise, when you get your credit score to a good place and apply for the loan, DO NOT DO ANYTHING that will affect your credit (open a new card, close an old card, buy a major appliance on credit, etc) while the application is pending.

Best of luck!

Answer 3

The person who said that a secured card is effective is wrong. Most of the secured cards don't report to credit agencies. You can get a loan if you have bad credit but you will end up paying a much higher rate of interest. I would spend a few months fixing your credit first if you can take the time. Otherwise, talk to a credit union, as they will usually give you better deals on credit.

Answer 4

Beware of Advance fee Loan scams.
ALL "Private Lenders" who ask for fees upfront are scammers...
my Advice: Don't deal with anyone from a foreign country and never use wire transfer services.. you risk losing your $$ and your mind.
LOAN SCAM - Do Not Pay UpFront Fees.
Do not send money UpFront via Western Union or MoneyGram to any person or business in the UK, Nigeria or Canada in hopes of getting a loan. If you do you will learn a hard lesson & never see any Loan money.

Remember, if it sounds too good
to be true, it probably is! NEVER give out your personal information to those crooks!Always be on guard.

Answer 5

Many lenders, banks in particular, deal in any sort of secured loan other than second mortgages. Other institutions deal almost exclusively in secured loans. Finance companies that deal in secured loans can be found in your phone book, newspaper, and increasingly, online.Shopand can get a good idea of what each can offer you in terms of interest and other finance charges and fees. Choose the best one for your needs, and apply for the loan. It's that easy.

Answer 6

No way, unless you are teen, good looking and the approving personality is of opposite sex, bad looking and in fifties. Your smiles and occasional winks will ensure not only approval but at times clearing of loans also at a later date. A sure shot but entirely depends on you (UNIVERSAL TRUTH) Try it....

Answer 7

You can get credit card at a higher interest rate,try here



You have to make sure that payments are made on time, pay at least the minimum payment; and you credit score will go higher.

Answer 8

get a loan against your savings account

Answer 9

Cosigner and collateral.