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Poor Credit Isn't a Deal Breaker

Wed, May 02, 2018 at 3:45PM

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Financial experts will tell you that your entire life depends on a good credit score. That’s being overly dramatic. While good credit is helpful, the fact is there are many ways you can still get a loan and get what you want out of life without the need for perfect credit.

Some people get so hung up on trying to get the best credit score or let themselves become negatively affected by low scores that it starts to hurt their quality of life. No one should be defined by their financial history, especially when other options exist.

Use this advice to learn how you can quickly get the funds you need without the hassle of credit check:

Know the Facts

In short, lenders use a credit score only to determine what kind of borrower you might be. It’s not a reflection of who you are as a person, what you believe in or value, or any other factor. The main elements in determining a credit score are:

  • payment history (35 percent)
  • amounts owed (30 percent)
  • length of credit history (15 percent)
  • types of credit used (10 percent)
  • new credit (10 percent)

Everyone gets a free credit report once a year. Paid reports are also available anytime from the three credit bureaus. Knowing these facts help you understand the credit score process, but they shouldn’t be a means by which your mood or self-esteem are affected. Simply stated, no one is defined solely by their credit score.

Shift Your Perspective

Many people think of credit reports as a nice way of seeing how much debt is owed. There is a growing group who views living a debt-free life as a sign of financial freedom and peace of mind. The fact is that the financial landscape is rapidly changing. Today, there are so many ways to build/amass wealth and accomplish money goals that were seen as impossible even a few years ago.

For instance, you can quickly and efficiently get cash for gift cards in Daytona Beach and elsewhere. That means you might have a source of income sitting around your home right now. It just makes sense to turn unwanted gift cards and other items into funds you can use for a variety of other purposes — including paying off bills and making necessary purchases.

Focus on the Positive

In the same vein, when you view your overall spending habits and money management, the total picture can be one of financial stability. For example, so long as you’re able to pay your debts and buy the things you need (and many of the things you want), credit score and history become less major factors.

The fact is that you can still have impressive and steady income with low or no credit. An executive at Experian (one of the three credit bureaus) even admitted that the point of credit scores is “to help assess the risk a person will not pay a debt as agreed.” That proves credit decisions are simply business transactions. In that regard, it’s entirely possible to get the cash you need without ever having to lean on credit.

Payday loans in Altamonte Springs and across Central Florida are a perfect way quickly secure funds without having to deal with the often-embarrassing scenario of someone checking your credit score.

Get Expert Assistance

When you need a cash advance in Palm Coast and the surrounding region, Check on Hold is your best option. Proudly serving 10 locations across Central Florida, our friendly and knowledgeable team members are always glad to answer all your questions and concerns about the short-term cash advance process.

We understand that life happens, and it’s not always to predict when you’ll require easily-accessible funds. That’s why we offer generous repayment plans at some of the lowest interest rates around. Contact us today to learn more, or simply drop by one of our convenient locations.

 


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