Surely you know all about PCCU’s Christmas loans by now? But what about Christmas loans for bad credit?
Having bad credit is like having a dark cloud constantly hanging over your finances. At Christmas, that dark cloud can look heavier than ever.
Festive celebrations don’t come cheap – presents, food, parties, more food. No matter how much we try to stop costs from spiralling out of control, there’s always one more gift, one more night out, one more person coming round for Christmas dinner.
And that’s absolutely fine. There’s no harm in getting wrapped up in the spirit of Christmas after all.
But while people on the nice credit list won’t have a problem securing a loan to help with any last minute costs, those on the naughty list may find it a tad more difficult borrowing from lenders.
Before we go into how PCCU can help with Christmas loans for bad credit, here are a few credit score pointers to help get you back on the right track.
5 ways to improve your credit score
1. Pay bills on time. Late or missed payments are a sure-fire way of sending your credit score plummeting. In contrast, keeping your finances under control shows lenders you can be trusted making repayments. Make a list of every bill you have, so you know who, when and how much you have to pay. Then put a bill payment plan in place – whether it’s a calendar reminder, setting up automatic payments or a post-it on the fridge; whatever works for you. This will hopefully help you settle into a routine, and make missed payments a thing of the past.
2. Perform regular credit checks. Credit reports contain an awful lot of information on you. And so it’s not unusual for errors to be present within this data. Carrying out regular checks – perhaps annually or before a major application – can help you identify potential issues, giving you a chance to rectify them before they damage an application. You can check your credit file for free by clicking here.
3. Keep your address up to date. Making sure your current address appears on your credit report is extremely important with regards to ratings. A good way to do this is registering on the electoral roll as soon as you move in.
4. Minimise credit applications. Every time you apply for a product, it leaves a footprint on your credit file. The more applications – especially over a short space of time – the bigger the footprint. This puts a lot of people between a rock and a hard place, because obviously each time a person’s application gets rejected (or they don’t get the rate they were expecting) they’re going to want to apply again…and again. Free eligibility calculators are a handy way of finding out what your odds of acceptance are without doing harm to your rating.
5. Break financial links. If you have a joint bank account, or another form of joint borrowing, the other person’s credit report and score can affect your own. Ending this financial association could see you boost your own score within a matter of weeks.
How can PCCU help with Christmas loans for bad credit?
Glad you asked.
When dealing with Christmas loans for bad credit, PCCU takes a big picture approach.
Unlike many credit providers we don’t use a computer to make a decision; all our loan decisions are made by people.
That’s because we understand how easy it is for credit reports to attract black marks. Instead of judging a person’s loan suitability on nothing more than a number, our staff look at a person’s affordability i.e. how much they have coming in, going out.
Our popular £500 Family Loan & Saving Scheme also allows you to borrow – with no credit check, just an affordability assessment – and use your child benefits to make repayments, while building up a nice little savings pot.
Where do you start?
Well, we know how busy everyone is at this time of year, so you may be glad to know you don’t even need to set foot in a branch to sort out an application. The whole process can be done online, either through our Online Accounts Area or via the secure PCCU app.
And while you may not need to come into one of our branches, that doesn’t mean our friendly and knowledgeable staff won’t be there to help. Just ring 01282 691333.
PCCU Christmas Loans
Apply for a PCCU Christmas Loan today, with competitive interest rates and repayments especially tailored to suit your financial circumstance.Apply Now