For most, a credit score is just a number, a number that holds little value until the day you try to borrow money. This number will determine how much you can borrow, at what interest rate you are able to borrow at, and who will lend to you. When borrowing money most lenders use your credit score to apply a risk rating and analyse your repayment capabilities. If you have a low score the banks will use your credit score as a reason to reject your application for a loan. It seems too often borrowers are rejected by banks and are left with a big question mark as to where they can apply next. The next logical step is no credit check loans, the light at the end of the tunnel for most Australians with bad credit.
The Australian credit reports & repair website shows Australians how to access their credit file. As consumers check their credit score, they are finding that their scores are too low to qualify for a loan. Cooper, a young man from Queensland, found himself in such a bind and started looking for a loan option that didn’t focus on his credit score.
Cooper’s No Credit Check Loan Situation
Cooper had a limited credit history to begin with, being a young 29 years old. Cooper had accumulated debts of $1,200 and $2,300 on each of his credit cards. He also had a car loan that held a debt of $14,000, and he was receiving threatening letters from his creditors to pay off his debts. While he was able to keep up with his credit cards he was falling behind on his car payment and he needed a loan to pay it off and get his creditors off his back.
Cooper’s credit was sorely affected by his debt management and he was left with fewer options to borrow money. Cooper continued applying for loans, applying to bank after bank, with all of them responding to him that his credit score made it impossible for them to lend to him. Banks are known for their restrictive lending practices, and many Australians give up the search at banks and miss out on the online loan brokering options.
No Credit Check Loans Australia Wide
Across Australia people are realising they have options when it comes to who they borrow money from. Like Cooper they have bad credit scores and still need financing.
The go-to financing option for Australians with poor credit scores is a No Credit Check Loan. No Credit Check Loans are the perfect loan option for the borrower who doesn’t want their past history scrutinised. If the banks are saying no, contact Australian Lending Centre. We have great rate no credit check loans and our lending requirements are less restrictive. We help fund Australians!