Aug 11, 2009
Poor Credit Loans - What Credit Score Do Banks Want Me to Have?
AUTHOR: Andrea Miles
Poor credit loans can be very tricky because most banks will only give you a loan if you have a certain credit score. Prior to March of 2009, most banks were very strict with their lending practices as they were hoarding money; they were very afraid that if they did lend money they would end of losing it because the borrowers would default. It is still not extremely easy to get a poor credit loan but it is much easier than it was back in March. Each bank is different when it comes to the credit score you need, but the easiest way to find out is ask!
There are many advertisements all over the Internet and television for banks that offer poor credit loans. Most of the ads direct you to an 800 number that will contact you with a representative. The easiest way to find out what credit score you need is to give them a call and ask some questions. You may not want to give out all of your personal information, but you can ask enough questions to get the answers you need.
Congratulations in taking the first step in getting a poor credit loan. The next step is to get out there and actually contact the banks and lenders who offer these services. There are many companies that do this, so do not limit yourself to just one or two.