Do all Lenders Care About Credit Score?

It is fairly well-known that it is important to have a good credit score because if you want to borrow money, all lenders have to do a credit check. They will take a look at your credit report and they will use it to decide whether they will lend you money. However, it is also important to realise that there are some lenders, that although will look at your credit report, will not use your financial record to decide whether to lend you money. They will actually just be looking at your credit report in order to do an identity check. It is worth knowing who will check and who will not though, as then you will know who you will be able to borrow from, should you struggle with your finances and find that your credit report is not in a good shape.

Which Lenders Care About Credit Scores?

It is a good idea to know which lenders will be interested in your credit score and this will allow you to be able to decide whether it is important for you to do your best to have a good one. You will find that all traditional lenders, high street banks, mortgage companies, credit card companies, personal lenders and places like this will all want to look at your credit report. They will want to make sure that you are capable of repaying them and so they will be interested in checking out your credit report to see whether they feel that you will be able to do this. They will look at your previous borrowing and see if you repaid on time as well as looking at your current payments to make sure that you are not getting behind. They will also be interested in looking at whether you are borrowing money elsewhere as they will want to check to see whether you are likely to miss their repayments due to being overwhelmed with repaying others.

Which Lenders do not Care About Credit Scores?

There are some lenders though, that will not look at these things. They are happy to lend to people even if they do not have a good credit history. This means that even if you do not have a good credit record, you will still be able to borrow money. These lenders tend to provide payday loans and guarantor loans. A payday loan is a short term loan and you will only be able to borrow up to £1,000 until you next get paid. They can be useful for emergencies as long as you are confident that you will be able to repay them. The guarantor loans are for up to £10,000 but you will need to find someone that will be prepared to cover any repayments that you cannot manage yourself.

So, although there are some options, they are limited and you will need to think about whether you feel that you will need to borrow money and how much and whether these loans are likely to suit your need or if you think that you will be more likely to want a mortgage or credit card and in that case you will need to make sure that you have a decent credit record. It can be best to have a good credit record anyway because you will benefit personally. This is because making payments on time will mean that you avoid late payment charges and not taking out too many loans will mean that you avoid loan charges and interest payments on them. So as well as having access to more products you will also pay out less money as well.

Should I Bother to Improve my Credit Score?

It is often said that we should be doing things to try to improve our credit score. However, it might all seem like a lot of hassle and you may wonder whether it is even something that you should be that bothered with. It is good to question these things but also you should think about whether you will benefit from giving it some thought.

What is a Credit Score?

It is good to start by having a good understanding of what a credit score is. It is actually not a thing at all, but we do all have a credit record. This shows details of our borrowing, missed payments, regular payments and things like this. It is something which will allow people to judge us and decide whether they are prepared to take us on as customers. There is no formal credit scoring process, but different people will judge us in different ways by looking at this information. These will be people such as lenders, landlords, employers, insurers and utility suppliers. Therefore, it can be important to make sure that they will have a good impression of you.

What Can I do to Improve it?

It is wise to start by looking at your credit report and making sure that all of the information on it is correct and get anything that is incorrect changed. Then if it is all correct see whether you feel that there might be improvements to be made. You will not be able to change things that happened in the past, so missed payment etc cannot be covered up. However, you can improve things now to show that you are changing your habits and more in control of your money.

To start with you could try to repay some of your loans early and that will show that you are capable of managing money well and that you are taking responsibility. It can also be a good idea to not take out any more loans or not too many. If you are thinking of applying for one, try to check with the lender first to see what the chances are of you being turned down as this will show up and work against you. So, try to only borrow if you are confident that you will get the money. However, avoiding borrowing can be even better.

You can also do other things to improve the look of your credit report. Make sure that you are registered to vote as this is often used as part of your identity checks when you apply for a financial product and you may be turned down if you do not appear on the voters role. Also make sure that your name is on some utility bills or insurance policies and that they are being paid on time so that there is some evidence that you can make payments on time.

Some of these checks and changes are easier than others. It is wise to consider all of them though as they could make a big difference to your future. It could impact your ability to borrow, move house, take out insurance, get a job or switch utility supplier. If you do not try to keep your credit score looking good you could find that your future is more expensive and lacks so many opportunities compared with the situation where you had a good credit report. You do not have to make all of the changes at once and you can take a step by step approach. By making sure that you are making payments on time and are not borrowing too much though, this will have a general positive impact on you, because you will be able to avoid paying so many fees, which you find you will get if you miss payments and repayments and if you borrow money.

How to Find out More About Investing

It is a really good idea to make sure that when you are thinking about investing, you do a lot of research first. You want to find out all about all of the types of investment, the risks, the returns and that sort of thing before you go into it. Therefore, you will need to know where to go to do your research. There are different places that you can fid out information and some are better than others.

Financial Advisor

There are financial advisors that specialize in investments and they can therefore be a really useful source of information and help. They will be able to let you know what is available for you considering how much money you have to invest and how much risk you want to take. It is always wise to be extremely clear in how much risk you are willing to take as if you say low risk, they will still give you something that has some risk. You need to remember that there is a risk with all investments and so even a low risk one could mean that you will lose some money and that could be something that you do not want. Therefore, if you want something with no risk, then tell them and they will find you a savings account. Also, you need to bear in mind that you will have to pay a financial advisor so you will need to be prepared for this.

Blogs and Websites

There are loads of places online with information about investing. Lots of blogs and websites have loads of information. It can be extremely tempting to use these as the information is free. There is useful information out there of course but there is also a lot of rubbish. There are things that are just untrue and information trying to lead to part with your money making false claims about potential returns. You therefore have to be extremely careful. Go to sites that you trust for information and think hard about whether it really makes sense or whether it seems a bit of a con. If something is promising a huge return then it is likely to be a con. Most investments will not give you more than 12% and you will normally have to hold them for at least a decade to see an average of this sort of return each year, So be very careful with what you are looking at and try to go to places that you trust for information.


There are a lot of investment books and they can be useful to get general information. However, bear in mind that information in books goes out of date very quickly. If they have general information then this is likely to still apply, but specifics may change and so just be careful what you are reading. Also check out who the author is and what authority they have. Anyone can write a book and you want to make sure that they know what they are talking about and that they have qualifications or experience (or preferably both) in the area that they are writing about and then you will be able trust what they are writing about.

So, although research is really valuable and will be a really useful and sensible things to do, you need to be careful. Think hard about where you are going for help and whether you can trust the information that they are giving you. Consider what their level of expertise is and use that as a guide as to whether you feel that you should trust what they are saying.

How to Pick the Best Bank?

If you are looking to find a new bank, then you may be rather overwhelmed at the choice that is available. There are lots of different banks and building societies available, but knowing which might be the best is tricky. This is especially true because they are all different and therefore suitable for different people. It is therefore good to think hard about the one that you pick as you are likely to find that there will be one that will suit you better than all of the rest. But how do you go about choosing?

Consider What you Need and Want

It is worth starting off by thinking about what you want from the bank. Consider what your expectations are, not just with regards to the accounts or loans you want to use it for, but also for the customer service, convenience, reputation, reviews etc. It is good to consider what you want to use it for, what you expect with regards to how you will use it) post, email, online, telephone or branch), whether you want a well-known bank or one that you friends and family recommend and things like this. It is good to get as much details as possible. It is then a good idea to also put the items in priority order as it is possible that there will not be any banks that will completely fulfill your requirements.

Find Out More About the Banks           

Then you will need to find out more about the banks so that you can consider them. It is good to start with asking people that you know about who they use and whether they would recommend them and why. This can be a great start because they will have no reason to show any bias and they will also have your bets interests at heart so will not want to recommend something to you that they did not think was going to benefit you in some way. Once you have done this then you could look at online reviews. These are much more likely to show bias but they can be useful too. Think about who is writing the information and why and whether they have something to gain by recommending certain banks over others. Also look at the banks own websites as this will allow you to find out information such as what products they are offering, how much they charge and things like this.

Make Your Match

You will then be at a stage to match up. Think about those things that you were looking for in a bank and then see which ones match up the best to them. It can be a good idea to think about whether there are certain banks that might be better for certain things as well. It can be tempting to use the same one bank for everything, but actually it might be better to have a mix. For example, if you want a loan, then you may find a certain bank is best, whereas you may feel that there is a different one that offers a better current account or credit card. While it can be slightly more complex to have accounts with more than one bank, it can be better with regards to the interest that you pay or receive and the service you get with regards to certain products. So, make sure that you do not eliminate banks because you feel you should do everything with the one bank as this is certainly not the case but have an open minded approach where you might decide to choose several, rather than just the one.

What to Use Payday Loans for

It can sometimes be the case, that people will not be sure what sorts of things payday loans are for. There are certain types of loans, where the money can only be used for certain purposes and this means that there are specific restrictions on spending. However, with a payday loan, there are no specific restrictions on what you spend the money on. The lenders will not check what you are buying. However, you could find that you will be restricted due to the nature of the loan so it is worth bearing a few things in mind.

How Much you Can Borrow

With a payday loan, most lenders will allow you to have between £100 and £1,000. This means that if you need a significant amount of money, then this loan will not be right for you. However, if you do need between these amounts then it could be suitable for you. It is worth bearing in mind though, that not all lenders will offer this much. You may find that some will just offer less anyway and there may be some which will offe different amounts to different borrowers. They may like to only lend small amounts of money to first time borrowers and then only lend them larger amounts if they successfully repay the smaller amount first. This could potentially mean that you will have access to an even smaller amount of money, but you will need to check this out with the different lenders.

How Quickly you Need to Repay

With a guaranteed payday loan, you will normally have to repay everything that you have borrowed together with the interest all in one go and this will mean that you will have to find a lump sum. This repayment will be due on your next pay day which means that it is likely to last for a few weeks. You will therefore have to find the money to repay the loan very quickly. This might be fine for some people but it will depend on your situation and how much you are planning on borrowing, whether this will be suitable for you.

The Cost

All loans have a cost and it is really important to make sure that you find out how much the cost is and think about whether it is an amount of money that you are prepared to pay. The cost may not be that obvious or easy to work out either, so it can be worth asking the lender as they will be able to let you know. Then you will be able to work out whether you think that it is worth it or not. It could depend on what you are using the loan to buy, as to whether you think that it is worth paying that extra money for it. You could find that you will be happy to pay it for some things, but for other things you will not be.

So, you will find that although there are no specific restriction in what you can use payday loans to pay for, it can be a good idea to think hard about whether they will be suitable for the purchase that you have in mind. There are many things to consider and the main ones could include whether you will be able to borrow enough money. Different lenders will lend different amounts so you may need to look around to find one that will allow you the money that you need. You also need to be aware of how quickly you will need to repay the money so that you can figure out if that will give you enough time to be able to find the funds that you need. You should also look at the cost and think about whether you are prepared to pay that much.