Category Archives: Auto Loans
Credit Reports for Leasing an Apartment
Many responsible landlords are analyzing the credit reports of the people they rent. They are ensuring their potential tenants are having clean credit history. All the aspects in your credit report will be affecting your credit score. Different weights are applied to different portions of your information such as, Bill Payments, length of credit history, outstanding debts, new credit applications and your credit mix.
All the information available in your credit reports has an implication for your apartment leasing process. When you approach to your landlord, they will be asking your credit report to analyze your financial ability for paying rent appropriately. Some apartments doesnt lease if you have a bad credit history. They often emphasis you on the following elements of your credit report.
Payment history
Amount owed
Length of credit history
Types of credit
Effective credit score helps you in acquiring the right Apartment
In the present real estate market, you should be well prepared and organized, to lease the right apartment of your choice. This could be possible when your credit reports are clear and when your credit score is quite higher. Therefore, when you plan to lease an apartment, get a copy of your credit report. You should analyze your credit report as early as possible, so that you have enough time to rectify your errors, before your landlord evaluate your credit.
How to get a free Copy of your Credit Report
To get a free copy of your credit report, you should approach any of the credit bureau that provides the credit reports and obtain a copy of it. They are available at a free of cost. You have to check whether all the information mentioned in the report is correct or not. It would be better to obtain the information on the regular basis, to get an efficient plan for evaluating your credit score and all can you do for improving your credit score. You have to make sure that the information provided to the credit bureau is accurate, as the credit score influences on several things like, mortgage loans and apartment rentals.
Identifying Fraud in Credit Report
You can identify the occurrence of fraud in your credit report by looking and identifying on the top of your report information. Especially the following errors, which indicate false details in your file:
Name on the report which is not yours
Addresses where you have never lived
Incorrect date of birth
Social Security numbers that don’t belong to you
This information helps you to understand the importance of credit report while leasing an apartment that fulfills all your requirements. Besides, it also helps you in analyzing your credit score regularly.
Quick No-Credit Check Loans: Benefits And Drawbacks
Quick no-credit check loans are amazing products and are used for many purposes by thousands of people every day. However, these loans as any other type of financial product have pros and cons that should be pondered before applying for one. If you want to know what are the benefits and drawbacks of Quick No-Credit Check Loans, in this article you will find a short explanation along with some tips on how to get approved and make the most out of them.
Benefits Of Quick No- Credit Check Loans
Quick no-credit check loans require no credit verifications and thus anyone can be approved regardless of the credit score or history that their credit report show. Bad credit is not an obstacle for approval with these loans and people with no credit at all can also get approved (young people can benefit from these loans when in an emergency because they get the money needed and get an entry on their credit history at the same time). Even those with a past bankruptcy on their credit report can get approved for these loans.
Thanks to the lack of credit assessment, these loans approval process is resolved quickly and without hassles. Most lenders that deal with Quick No-Credit Check Loans provide loan approval within less than a day and the money is usually deposited in the applicants bank account by the next day but even if a particular lender does not process the loan within the day, they never take more than 72 business Hs. to deposit the amount into the applicants designated account.
Another interesting characteristic of Quick No-Credit Check Loans is that there is no paperwork required. Most of these loans applications can be processed online and electronically without having to make long credit verifications or documentation analysis. Some lenders may require you to fax some information but most of the new loans are promoted as no-fax loans thus excluding the need of faxing documentation on new Quick No-Credit Check Loans.
Drawbacks Of Quick No-Credit Check Loans
Since there are no credit checks, the lenders default the risk assessment to a high risk scenario and thus charge high interest rates for the money lent. Therefore, you should expect to pay significantly higher interest rates than that of credit cards or unsecured loans and lines of credit. The interest rate may be concealed by promoting the loan price as a fixed fee every hundred or thousand dollars but if you do your math you will learn that the rate is actually very high on annual terms.
For the same reason, the repayment programs of these loans are rather short. Since there is a high risk involved, the lender will provide the funds only for short periods of time. You may get longer repayment programs than with payday loans but the schedules will be similar to those of cash advances that provide only a few installments for repayment. Do not expect long repayment programs as with unsecured personal loans that require long credit verification processes.
Finally, you will not be able to get high loan amounts either. Due to the risk, the loan amounts usually average $1000 and seldom reach $2000. Therefore, as you can see, these loans are meant for emergencies where there is no time for credit assessment processes and urgency is the main issue. These loans serve their purpose. What you need to ponder if that is what you actually need.