Bad Credit vs No Credit: [What Are They And Ways To Improve Them]

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May 13, 2021

What is worse – having Bad Credit Or No Credit Score?

No credit score represents that you don’t have any credit history. Whereas a bad credit score shows that you have done some sort of mistakes in repaying the loan amount on time. Moneylenders don’t find such seekers approachable.

But a no credit score gives the same vibe of how should I trust you to payback my loans on time! So its clear that both of them are a hindrance in your financing.

However there are ways by which you can Improve Your Bad Credit Score or build one. One more thing to add is that building a credit score is much easier than rebuilding and old one.

Thus lets begin this blog with knowing the ways through which you can improve as well as build your credit score.

Beginning firsly with rebuilding a bad credit score,

Ways To Improve Your Bad Credit Score

Following these tips you can again achieve your good credit score and become eligible for lending in the eyes of lenders.

  • Evaluation of your credit reports
  • Payments on due dates
  • Try to limit your credit utilization up to 30% or less
  • Use of credit monitoring services to track your progress
  • Paying off all your previous debts

 

Ways To Build A Good Credit Score From Beginning

The one way to build a positive credit score in the long run is to use credit responsibly. Because we don’t want you to fall for situations where you need money and you can’t be approved. That’s why we present you some tips following which you can Build Your Credit Score from scratch.

  • Get a secured credit card or credit-builder loan
  • Using a co-signer for a credit card
  • Becoming a user of installment loans
  • Become an authorized user on someone else's card
  • Check whether your monthly bills like of rents and other payments recorded in your credit reports

But as said this process of building or improving credit score will take time approx. of 6 months. Till then what will you do if your house furnace broke in between or your car goes on strike? Remember the name Loan Magnate…

Looking For Someone To Be Your Financial Advisor?

Loan Magnate is the right place for you if you were looking for some reliable financial suggestions.

Our company provides the service of connecting the loan seekers with the most trustworthy and fair moneylenders anywhere in USA. Good thing is that we don’t judge your past on the basis of No Credit vs Bad Credit Score unlike others.

To get connected with us you just have to sign up from our official website and fulfil the basic eligibility criteria. Within 24 hours of your submission our team will contact you with the list of lenders available at your terms and conditions.

We also don’t mind to have your precious time on coffee and offering some valuable suggestions for future financing.

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Loan Magnate

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Loan Magnate understands the fact that uncertainty in life doesn’t comes straight at your door. It can come from anywhere especially those financial crunches. If you also feel the same way get connected to us at our website to get all your financial solution anywhere in USA.