As contrary as it seems the best time to borrow money is when you don’t need it. This is the best time but obviously for most of us it isn’t the most opportune. People with great credit credentials get more solicitation than individuals who are risk averse.
Next time you’re sitting on an airplane, look at the person in the seat next to you. Then imagine that person is paying $300 less for that seat than you are paying for yours. This scenario isn’t very far-fetched. After all, it’s possible to hack a better airfare, depending on when you order your ticket, and what days you fly.
The same is true of almost any financial transaction. A little knowledge can go a long way when you want to save money. In fact, that person sitting next to you on the plan might be saving $200 every month on a mortgage, or $50 every month on an auto loan, due to a better loan rate. If you want to hack your loan rate, here’s what to do: You can view this site for more information See more…
Either way you should make sure that when you are building your credit history you should abide by common sense rules
Then, be sure you make all payments on time. You will hurt both your credit history and the credit history of your cosigner if you are late making payments. If you think you may miss a payment, be sure to talk with your cosigner before your loan is past due. He or she will likely help you avoid making a negative mark on both of your credit scores. investopedia.com
If you are a good customer, and have good credit, you can usually get what is called a signature loan for $3,000 to $5,000. Check with your bank or credit union to find out whether they offer these loans, and what the application process is. Going forward with my initial thought you can easily go into a lending institution and sign your name and get a loan. Chances are you really didn’t need it but it is just the thought that enforces my paradigm.
If you are in a situation that you need financial help then you should go through a list of checks and balances to improve your chances in the future. Make sure that you do your due diligence in regards to borrowing money for anything.
You will need to have a relatively high credit score (above 700 if you want to even be considered for an unsecured personal loan), and you likely not be approved for as much as you would like. (Not sure how your credit looks? Use services from Equifax, TrueCredit, and Credit Sesame to figure that out first.) Read more…