Loans Is your credit score high for bank personal loan?

[sincerem]

Bank offer personal loan when your credit score is high banking with them. Keeping a loan clean swept makes one keeping a high credit score with the bank. And that brings reasonable loan offer for the customer. Taking a loan previously without paying on time makes the credit score to go down.

And that makes the individual finding it difficult to secure another loan in the future. I don't have any outstanding loan debt with any mortgage bank, nor my own bank which I'm banking with 24/7. Still I can't access loan when I need it most to settle some bills that needs urgent money to sort it out. That has made me to forget about loan, and focus on saving money.

How do you secure a reasonable loan amount having high credit score via the mortgage bank?

 

[Mandy96]

There are two different types of loan
1. Secured loan
2. Unsecured loan

1. Secured loan is a loan that requires the borrower to tender a collateral to get the loan and such loans are considered when the credit score is low

2. Unsecured loan is a type of loan that doesn’t require a collateral before it can be granted or approved and that is because the borrower has good credit score/history

 

[btaliat]

A bank always give out some loans based on the credit score of their clients. But at times, this does depend on the amount to be borrowed. If the amount is too much, bank may forgo credit score and ask for a collateral. I havent borwowd from banks before so I don't have any credit score with them.

 

[sincerem]

There are two different types of loan
1. Secured loan
2. Unsecured loan

1. Secured loan is a loan that requires the borrower to tender a collateral to get the loan and such loans are considered when the credit score is low

2. Unsecured loan is a type of loan that doesn’t require a collateral before it can be granted or approved and that is because the borrower has good credit score/history

That's wonderful to hear you brilliantly stating about the two types of loan. Having a good credit score makes one access a loan without being asked for those essential documents of collateral. The person simply get a loan of higher amount through the unsecured loan system because the mortgage believe such customer have a good record paying back loan.

 

[Abigael]

I do not have a high credit score in my bank. When I was in campus, I would make the mistake of taking mobile bank loans and take so much time to pay back. I guess this is what ruined my credit history. I guess this is what lowered my credit history. But it is a blessing in disguise because I don't take loans anymore.

 

[btaliat]

I do not have a high credit score in my bank. When I was in campus, I would make the mistake of taking mobile bank loans and take so much time to pay back. I guess this is what ruined my credit history. I guess this is what lowered my credit history. But it is a blessing in disguise because I don't take loans anymore.

Schooling can be so expensive to the extent that if one doesn't have a supporter, one may even decide to stop schooling. That's the reason why most students do default in repaying their loan. Beside, the interest this mobile loan is incurring on each individual should be different becuase students only need the money for survival and not for business.

 

[sincerem]

I do not have a high credit score in my bank. When I was in campus, I would make the mistake of taking mobile bank loans and take so much time to pay back. I guess this is what ruined my credit history. I guess this is what lowered my credit history. But it is a blessing in disguise because I don't take loans anymore.

Laughs, its a blessing in disguise for you dear. Cos it has enabled you to stay faraway from loan and its debts that follows it. I took a loan recently for the first time in my life after trying many loan apps that didn't work for me. I was thinking it won't work out, but all of a sudden it worked out. And now I'm owing, and the money was used for bills payment too, which I'm still into.