How to Secure Finance When You Have a Poor Credit History

How to Secure Finance When You Have a Poor Credit History


Securing finance can be challenging at the best of times, and when you have a poor credit history working against you, it can seem like an impossible mountain to climb.

Unfortunately, however, it is often those who can’t borrow that are most in need of some monetary backing, and this creates a double edged sword between having to accept disadvantageous lending conditions, and being unable to pay your bills and cover your costs.

Rather than despairing or running straight into the arms of a disingenuous loan shark, you need to look at the options that remain open to you. If you don’t know where to start, then here are three possibilities that you ought to consider…


One of the reasons that those with a poor financial history find it so difficult to borrow is because they’re considered to be a high-risk applicant. However, when you approach a pawnbroker, your financial history won’t even be considered. The asset that you exchange will be surety enough in itself to help you secure the funds that you need, and you’ll have the added boon of knowing that it will cover your debt should you find yourself in a position where you can’t repay the money you’ve borrowed.

Credit Cards

Credit card lenders are often relatively flexible when it comes to accepting applicants, and this means that even those with a poor financial history might want to contemplate them as an option. Although they usually won’t lend you as much as loan companies, you may still be able to borrow around £5,000, which can be a real help when you’re struggling. What’s more, provided that you meet your repayment terms, you might even be able to boost your credit rating so that you don’t find yourself in the same situation a second time.

Bad Credit Loans

If neither of the two possibilities above would be feasible for you, then you may also wish to consider specialist bad credit options, which are available from companies like Everyday Loans. These lenders take the time to look at more than just your financial history, which makes them an ideal choice for those that have experienced monetary hardships in the past. Provided that your age, income, and employment status recommend you to them, they’ll be happy to extend terms, lending you the helping hand that you’re so badly in need of.

If you’re struggling to secure credit, could one of these options be the perfect solution for you?