Don’t allow a bad credit history to stop you from purchasing items on credit. Not being able to acquire a credit card or to enter into purchase agreements due to poor credit scores is a thing of the past. The UK market has evolved, and we are getting the benefits of this grand evolution. Here are some of the most important things you need to remember when suffering from bad credit.
A bad credit history will not affect much of your future if you don’t allow it to.
Many people have the misconception that a bad credit history will drag you to as long as 5, 7 or 10 years! Nothing can be further from the truth. The fact is that in less than a year, you may be able to bring your credit score to a level that is high enough to make you eligible for standard credit cards and loans in no time.
Financial transactions with no credit checks will help you achieve better financial position in the future.
We have heard several skeptics saying that transactions completed without credit checks do not hold bearing in improving financial standing. Again, this is a myth. I advise you not to listen to these people; listening to disbelievers has not done anything good to most people. No credit check transactions can and will help you boost scores. In fact, these are considered as the most viable option for people with bad credit. You need not undergo credit checks that last for days or weeks only to find out you have been disapproved. Through no credit check transactions, you are guaranteed the chance to correct past financial mistakes by keeping with payment deadlines this time around.
Instant credit from catalogue companies can be your ultimate financial mate.
Getting instant credit from catalogue companies is one of the surefire ways to put your credit history on the right track. By availing of a credit line from them, you can purchase items, like home furniture or entertainment appliances, and pay a fraction of the total amount at regular intervals. If you keep paying on time, these companies report your good business with them to national governing bodies and your credit score gets an instant boost.
It is good to have a credit card.
You may have heard from a lot of people that credit card only brought them deeper in debts. Well, that is because they did not plan their expenses carefully in the first place. A credit card is helpful in establishing a credit history. Without it, financial institutions have little basis on how good a borrower you are. Having a credit card and paying bills on time help establish a good credit score. If you have been declined by traditional credit card companies, catalogue credit cards, although limited in scope since you can only use it within the issuer’s store, can be very helpful as well.