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Bad Credit Loans

Are you having a hard time looking for a loan due to your bad credit history? If so, then looking for lenders who give out loans even to those who have bad credit is the best for you. With the rise of the number of lenders and banks, gone are days when you absolutely can’t get a loan unless you do something to improve your credit history.

What is a Bad Credit?

In general, your credit history is the reflection of how well or bad your past loans and debts are. It’s a way for lenders and banks to track whether you were able to keep track and pay off any debts from previous loans. This is normally checked by lenders to ensure that they won’t be loosing money if they choose to grant you a loan.

You would get a bad credit history if you ever miss a payment or forgo paying your loans entirely. You would also get a bad credit history from credit card debts that you weren’t able to pay off. It may also mean that you were denied a loan application in the past due to various reasons.

If you’re thinking that there’s a way for you to hide your credit history by not divulging it when you’re applying for loans you’re unfortunately mistaken. Credit histories are compiled by credit bureaus in a credit report so there’s no way for you to hide any history since it’s readily available to lenders.

How to Know if You Have Bad Credit?

If you pay close attention to your finances and how you spend your money you would already have an idea of whether or not you have a bad credit. However, if you’re still unsure about your credit history below are ways for you to find out whether you have a bad credit history or not.

1. You missed a payment for a credit card debt or loan
2. You were recently rejected for a loan
3. Your credit card limit has been lowered
4. You are being offered higher rates than usual

If you are experiencing a combination or all of those above; then you might currently have a bad credit. To check your credit more accurately you may compute for your credit score. There’s no clear cut way of knowing which score is good or bad since there are no universal rules about what a bad credit score is. However, the general rule of thumb is: if you have a score that’s on the lower 600s then you have a bad credit history.

How to Get Loans if You Have Bad Credit?

While it’s still advisable for you to raise your credit score first before you get another loan, emergencies might call for you to get loans before you are able to do so. In cases like hospitalizations, accidents, and even home and auto repair you might need to get a loan immediately and unexpectedly. In these cases, it’s best if you apply for emergency loans since these are approved faster and have a higher approval rate. However, you still need to be careful in choosing where you would apply your loans.

There are lenders who advertise that they won’t need you to have a good credit standing for loan approvals however, their rates might be a bit high. Given this, you need to be careful in choosing where to apply for your loan. Do your research first and check for the rates before you start application so you won’t waste time or effort in case you find out about the terms late. It’s also advisable for you to get your loans directly and to look closely if you’re going through a middleman or broker to avoid any additional fees.

Where to get an Emergency Loan with a Bad Credit?

There are many lenders that approve loans to those even who have a bad credit history. If you need you loans fast; then it’s advisable for you to apply for your loan on They offer various kinds of loans which also have varied interest rates and loan amounts. Just make sure that the loan you’re applying for would match your salary and other forms of income.

Pounda also offers quick approval. You would normally get your results within 24 hours of you filing your loan request. If your loan is approved they would deposit the money directly to your account. Getting loans have never been this hassle free, so if you want quick and satisfactory loans then you should apply on