Fast Loans for Bad Credit

Fast loans for bad credit can be a lifeline for those who need cash, quick, in an emergency. We offer this type of loan here at PM Loans, with an instant decision on your application and a speedy transfer of the money if you’re accepted.

A bad credit score can be the outcome of financial inefficiency, it could also be the product of not having a borrowing history. In both cases, a history of poor credit handling can usually be a hindrance to receiving a personal loan. Bad credit happens when repayments on current loans & bills are missed.

What is a Bad Credit Score?

Bad credit is based upon your credit score. Someone is regarded to have bad credit if their credit shows a history of their bills being paid late or they owe excessive amounts of money. Your credit history is based on:

  • Late or missed payments. A late or missed payment on an account in your name will be recorded on your credit report and impact the score you see.
  • Incorrect details. Such as your address for the past three years. If you have conflicting information on your credit report then this can make it more difficult for lenders to verify your identity and will be reflected in your credit score.
  • Applying for too many loans. If you apply for lots of different types of credit at once or with multiple lenders this could raise a red flag with future lenders.

How can I improve my credit score?

You can better your credit score in a variety of ways such as making payments reliably and registering on the electoral roll. Bettering your credit can be essential as it can make your financial life easier and help you to save money. Here are the reasons why having a good credit score is beneficial:

  • Better negotiating power. Having a good credit score provides you leverage to negotiate a lower interest rate on a new loan or credit card
  • Your credit limits increase. Because you demonstrate that you can repay what you’ve borrowed on time, banks will be willing to allow you to borrow higher amounts of money.
  • Pay credit on time and in full. Ensure your regular payments for credit cards and loans are paid on time and in full.

How can I apply?

If your bank has refused you a loan, there’s no need to panic. We look beyond your credit profile and wherever possible. We try to say ‘Yes’ to customers who we feel are capable of managing their repayments. Our Eligibility Requirements means you will know your likelihood of acceptance before you apply too.

In order to apply, you’ll need to be:

  • a UK resident, aged over 18 years old
  • employed, self-employed or have a stable source of income
  • the holder of a UK bank account with a debit card
  • have a valid email address and phone number

Apply Now!