Customers with good credit ratings can usually have a better chance of being approved for personal loans and pay the lowest interest rates too.
By taking time to build up a good credit score, you give future lenders confidence that you will be able to repay your loan on time and not go into arrears – and they will be happy to reward you with a low cost loan, starting from just 3.3% APR.
You can apply for a good credit loan directly with All Purpose Loans and acting as a whole of market broker, we can help you maximise the amount you wish to borrow and get the best rate possible.
Customers can borrow up to £25,000 and usually receive funds to their bank account within a few days of applying.
For many UK lenders, the credit score is a good indication of how well the individual (or company) has repaid previous loans, credit cards and bills in the past. This information is used to determine their future eligibility for loans.
With different credit scores depending on the credit reference agency, if you are in the higher credit rating bracket, you will be deemed to have a good credit score and this will maximise your chances of approval.
Most lenders will have a minimum score requirement (this is usually confidential) and if you meet the criteria, you can be eligible for a good credit loan, giving you some of the best rates on the market.
A key thing when determining your eligibility is your affordability. Whilst individuals may have a good credit score, they may have lots of other credit card bills and loans open and any additional loans could stretch them financially. So taking your affordability into account is key. If you are looking to consolidate your existing debts, you can opt for a debt consolidation loan, which will help you put all debts into one single payment every month.
At All Purpose Loans, our entire loan application process is online and only takes 2 minutes to be completed. We run a soft credit check on your account, so there is no cost or impact to your credit score.
Upon completing the application, you will receive an indicative quote on the screen from a list of lenders most likely to accept your application – and you can choose to proceed at your own pace.
We work with the whole of market, so we compare good credit loans from over 50 lenders in the UK. Some lenders may require some further checks, but loans are often approved very quickly and funds are transferred to your account in a matter of days.