Banking With Bad Credit
It’s certainly difficult, indeed, it’s almost impossible to manage without some form of bank account these days. Cash has been taken over by plastic and the traditional wage packet by direct account transfer. And then there’s all the related services – debit cards, credit cards, overdrafts, mortgages etc.
Access to these services when struggling with a bad credit rating can appear difficult to say the least … but not impossible and in some cases easier than you may first think.
Holding a bank account is almost essential these days, life without a bank account and at least a debit card is pretty restricted without it. That’s why there’s a bank account available for everyone, regardless of credit rating or history and these accounts are available not only via online financial institutions but from the main, high street banks too. Because these accounts are not particularly profitable to the banks (they’ll come without credit or overdraft facilities and just a cash/debit card rather than a credit card) they’re not heavily advertised but these basic bank accounts are there and available … if you ask! Find out more about your options for a bank account for bad credit >>>
Just as a bank account is essential so is some form of plastic credit card, debit card or pre-paid card. An actual credit card can be a useful tool when rebuilding a damaged credit rating, sure, credit limits may be low and interest rates higher than a standard card but there are specific companies providing credit cards for bad credit which, if used correctly can be a benefit. Other options exist too so find out more at our credit cards for bad credit pages >>>
Whilst mortgages are a form of loan we’ve included them within the banking pages. As we come out of recession here in the UK it’s becoming a little easier to obtain a mortgage and the Government is providing help to buy that elusive first home. As finance becomes more accessible so it becomes a little easier to get a mortgage with bad credit. Find out more about mortgages for bad credit >>>
Money Unmuddled is an evolving website and more content will be added on an on going basis. If there’s anything specific you’re looking to find out about then why not contact us