Bad Credit Loans Blog

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Loans To Improve Your Credit Score

America's Loan Company offers Personal Loans for people with bad credit.  However, our loans can help improve your credit score.  The reason for this is that America’s Loan Company reports credit histories to one of the three major credit bureaus, TransUnion.

You Mean A Good Payment History Can Improve My Credit Score?

credit score picIn short, yes.  According to a blog by Experian, another one of the three credit bureaus, “Paying your bills on time is the most important contributor to a good credit score.”  You can read more at Experian’s blog by clicking here https://www.experian.com/blogs/ask-experian/credit-education/improving-credit/improve-credit-score/.  So, getting a bad credit personal loan from us may help improve your credit score as long as loan payments are done on time.  Even if one of your payments is dishonored by the bank, immediately taking care of that payment should help to keep improving your credit score. 

Don’t Ignore Other Debts, however.

Even if you paid your loan with us faithfully, not paying on other debts will have a negative effect on your credit.  Other debts include credit cards, student loans, phone, gas, electric bills, etc..

So Should I Get A Loan Just To Improve My Credit Score?

No.  No one should.  Having too much debt can work against your aims of improving your credit score.  The same blog from Experian mentioned above advises against such practice.  Borrow only what you need and when you need it. 

Should I Get Loans From Many Other Lenders To Improve My Credit Score?

According to the same Experian blog, this is a bad idea.  When the need comes to borrow funds for an unexpected bill, America

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’s Loan Company does offer bad credit loans.  However, if the credit bureaus see that you are borrowing from too many lenders, this will work against your credit score.  New inquiries from other lenders for instance, will show up as hard inquiries, which have a negative effect on the credit score. 

So, As Long As I Make My Minimum Payments, It Is Okay To Max Out My Credit Cards? 

That also does not work well to help improve the credit score.  Credit bureaus do look at what balances your carry compared to the available credit.

Rebuilding your credit score can take some time.  However, following some of these simple rules above can help you start on the right path.  Do click on the link above for more details from Experian.

Affordable Bad Credit Loans

6 Mos. to 5 Yr. Terms

We Report Your Credit

Fast Approval

 

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America's Loan Company - Notice

Customer Notice: Personal loans, title loans, and car loans have terms 6 months or longer. There are no early payoff penalties. We currently report to one of the 3 major credit bureaus, TransUnion. However, many factors affect your credit score. Therefore, we can't promise that your credit score will improve while having a loan with us.

Requirements: We are able to service Ohio residents only. Approval depends upon meeting legal, regulatory and underwriting requirements. America's Loan Company may, at its discretion, verify application information by using national databases, including but not limited to Teletrack and any of the national credit bureaus. America's Loan Company may take this information into consideration in the approval process. Due to state and verification requirements, not all applicants for loans may be eligible for approval by America's Loan Company. You may be required to submit additional documents due to state law and qualification criteria.

Products & Services: Products and services offered to customers may vary based on customer eligibility and applicable state and federal law. Actual loan amounts vary. The availability of loans and extensions may vary. Auto loans and secured personal loans are subject to minimum auto value requirements.

Further Personal Loan Disclosures: For qualified customers, America’s Loan Company offers bad credit personal loans with terms of 6 months to 5 years, with APR under 35.9%. As an example, you may borrow $1,500.00 over a 24 month period, with a $10.00 credit investigation fee, $100.00 loan origination fee, and $452.32 in interest, for a total payment of $2062.32, with an APR of 32.6514%, and monthly payments of $85.93.

More information can be found on the America's Loan Company Privacy Policy.

Bad Credit Loans by America's Loan Company

Copyright ©2018 America's Loan Company 127 E. Main Street, West Jefferson, OH 43162. All Right Reserved. 
Seeking bad credit installment loans? We offer affordable online personal loans. Ohio based direct lender. Start improving your credit today!

Toll-Free: 877-380-2639 - Ohio: SM.501641.000 CI.550000.000 - Company NMLS ID: 315276

 

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