Apply for personal loan 'after seeing credit file'
04 January 2010 13:11:54
 |
| A credit rating assessment is key to personal loan applications. |
The short-term boost provided by a loan has been particularly useful in the recent economic climate for households whose budgets are stretched to the limit.
However, the Independent has suggested that assessing credit reports is an important precursor to attempting to secure a loan, particularly if an individual has been refused in the past.
"If you want a new credit product, get hold of your credit score first," the publication advised.
"Seeing your credit report will also help you to assess more clearly the kinds of loan for which you are likely to qualify."
However, the newspaper also warned against repeatedly attempting to secure loans after being refused for one, as there is likely to be a 'footprint' placed on the applicant's credit file.
Last week, the Treasury Committee expressed its concern that consumers could see their credit rating affected by shopping around for the best personal loan deals.
‹ Back
Other Loans News
-
Apply for personal loan 'after seeing credit file'
A credit rating assessment is key to personal loan applications. -
Fewer personal loans issued in November
Personal loan uptake decreased slightly during November. -
Bonus fury 'may fuel demand for Tesco Bank loans'
Personal loan customers may increasingly shun traditional banks. -
Mortgage and personal loan debt advice in demand
More people are struggling with personal loan and mortgage repayments.
All Loans News
Other Home Page News
-
Think twice before taking out a payday loan
Payday loan customers may experience severe financial problems in future. -
Planning a trip? Here's where to spend your travel cash
Sterling has made strong gains against many currencies this year. -
Make sure you know your likely broadband speed
Many ISPs are still not being upfront about broadband speeds. -
Save money by checking out fixed-term energy deals
Energy costs are expected to rise again this winter.
All News Stories
Product Offers
Please ensure that you fully read the terms & conditions of any product or policy before you decide to proceed and are fully aware of the total costs and the benefits and any exclusions or limitations applicable to the product or plan.
Please note that the product links will take you direct to the Issuer or Insurer's site direct and we cannot be held responsible for the information which they provide within their own sites. On some comparison tables we use a star rating which rates products by visitor popularity.
Please ensure that you fully read the terms & conditions of any product or policy before you decide to proceed and are fully aware of the total costs and the benefits and any exclusions or limitations applicable to the product or plan.
Please note that the product links will take you direct to the Issuer or Insurer's site direct and we cannot be held responsible for the information which they provide within their own sites. On some comparison tables we use a star rating which rates products by visitor popularity.