Keeping a clean credit history makes life a whole lot easier. Whether you’re trying to get a car, apartment, job or loan sooner or later someone will use your credit history to judge you. But let’s focus on how your credit score can affect your ability to get a loan. Getting a loan such as a mortgage or installment loan are the most popular reasons for improving and maintaining good credit.

With poor credit your chances of getting approved are slim and if you do manage to get approved, you will have to pay back astronomical interest rates. Other drawbacks of trying to get a loan with shaky credit include:

  • Needing a cosigner
  • Putting up collateral

Having to jump through these extra hoops can be stressful and even embarrassing (especially if you need a cosigner). You may also have do a little more to get the loan, such as find a cosigner or put up collateral. Your best bet is to start now working on cleaning up your credit.

Subscribe To Our Newsletter

By clicking submit, I authorize The Americas Tax Choice and its affiliated companies to: (1) use, sell, and share my information for marketing purposes, including cross-context behavioral advertising, as described in our Terms of Service and Privacy Policy, (2) supplement the information that I provide with additional information lawfully obtained from other sources, like demographic data from public sources, interests inferred from web page views, or other data relevant to what might interest me, like past purchase or location data, (3) contact me or enable others to contact me by email with offers for goods and services from any category at the email address provided, and (4) retain my information while I am engaging with marketing messages that I receive and for a reasonable amount of time thereafter. I understand I can opt out at any time through an email that I receive, or by clicking here

Recent Posts

Menu
Skip to content