You’ve seen the ads on TV. That cool commercial for that sporty, new car. Throughout the commercial, you notice a few disclaimers. They talk about things like prime credit and credit score requirements. But what are these, and how do they affect you if you are looking to take out a loan?
At Blue Trust Loans, we understand that credit can be confusing. If you haven’t yet established credit, or if you think you have bad credit, you might want to understand these a little bit more. That’s why we’ve provided the information below. It’s a little bit about credit and short-term loans for bad credit with direct lenders.
What Causes Bad Credit?
Before explaining what causes bad credit, let’s take a step back and look at what credit is. In the United States, there are three main credit reporting agencies. These agencies track credit-related information about you. They get your identifying information, which includes your address, birth date, and any name that you are using now or have used in the past. But your credit score also typically includes information such as how long your history of credit is, how much you currently owe to creditors, your payment history, and also hard inquiries, which is when a creditor requests to look at your credit report as part of an application process.
The general credit scale goes from as low as 300 to as high as 850. There are five levels of credit scores: poor, fair, good, very good, and exceptional. An exceptional score, also referred to as having prime credit, is a score that is 800 or above, and it’s estimated that about 20% of people in the US have scores that fall into this category. As you can see, it’s hard to have such a great score. A larger percentage of adults, about 30%, fall into the poor category, which means that their credit score is 579 or lower. People who are just establishing credit will start with lower scores and most often will fall into the poor category.
What if your credit rating falls into the poor category, but you need to borrow money? Is there anything you can do?
I Have Bad Credit But Need a Loan
At Blue Trust Loans, we understand that not everyone can have an excellent credit score. We know that even those people with less-than-perfect credit may have emergencies and need to borrow money fast. That’s why we’re here to help. We’re here when you need us, 24/7, even if your score is far from perfect.
Bad Credit Loans From Blue Trust Loans
Blue Trust Loans offers short-term installment loans, including internet loans for bad credit, with flexible repayment options and no prepayment penalty. We offer funding to customers who qualify, even if their credit history isn’t good. If you have unexpected expenses due to an unforeseen emergency and want to apply for an unsecured loan of up to $3,000, you can apply online today. You might even qualify for Same Day Funding.*
Here’s some basic information about how it works. At Blue Trust Loans, we can answer any questions you might have about our loan process.
Still have questions and want to speak to a customer service representative? Call us at 877-770-2682. We’re here 24-7.
*Same Day Funding is available on business days where pre-approval, eSignature of the loan agreement, and completion of the confirmation call, if a call is required, have occurred by 11:45 a.m. Eastern Time, and a customer elects ACH as payment method. Other restrictions may apply. Certain financial institutions do not support same -day funded transactions. When Same-Day Funding is not available, funding will occur the next business day.
The content on this site is for informational purposes only and is not professional financial advice. Blue Trust Loans does not assume responsibility for information given. All information should be weighed against your own abilities and circumstances and applied accordingly. It is up to the reader to determine if this information is safe and suitable for their own situation.
Hummingbird Funds, LLC is a sovereign enterprise, an economic development arm and instrumentality of, and wholly-owned and controlled by, the Lac Courte Oreilles Band of Lake Superior Chippewa Indians (the “Tribe”), a federally-recognized sovereign American Indian Tribe. This means that the Hummingbird Funds’ installment loan products are provided by a sovereign government and the proceeds of our business fund governmental services for Tribe citizens. This also means that Hummingbird Funds is not subject to suit or service of process. Rather, Hummingbird Funds is regulated by the Tribe. If you do business with Hummingbird Funds, your potential forums for dispute resolution will be limited to those available under Tribal law and your loan agreement. As more specifically set forth in Hummingbird Funds’ contracts, these forums include informal, but affordable and efficient Tribal dispute resolution, or individual arbitration before a neutral arbitrator. Otherwise, Hummingbird Funds is not subject to suit or service of process. Nothing in this website is intended to waive or otherwise prejudice Hummingbird Funds’ entitlement to these protections. Neither Hummingbird Funds nor the Tribe has waived its sovereign immunity in connection with any claims relative to use of this mobile site. If you are not comfortable doing business with a sovereign instrumentality that cannot be sued in court, you should discontinue use of this website.