Getting a credit card at any bank is a matter of minutes. Financial structures usually with great pleasure provide the client with any amount at a percentage that can be called small. However, in some cases it is difficult to get a credit card with a bad credit history. It is necessary to find out whether this is true.
Validation Procedure
A credit history is a presentation of all the information on how timely you paid your previous loans in the form of a kind of report. It includes everything: goods on credit, mortgages, as well as closed cards. Most users only become aware of their credit history when they turn to a financial institution for another loan. Moreover, almost no one realizes that he is entitled to a special request to the Central Catalog of Credit Histories, from where he will be given all the necessary information completely free of charge. However, without payment, such a certificate is issued only once a year. If there is a need to repeatedly check such a story, then you will need to pay. In addition, there are a number of online services through which you can get the necessary information about problems with previous loans, as well as various delays, for a modest fee.
Credit card
So, the information you received, but your last name really turned out to be in the list of "dysfunctional" customers. However, this is not a reason to be discouraged; some banks draw up credit cards with bad credit history. But we will come to this gradually. All points should be considered in detail.
Ways to get out of the situation
First you can find out how to fix your credit history yourself. The implementation of this is possible with certain actions. The bureau information may contain information that you have become a debtor of a certain bank, but at the same time you know for sure that your previous debt has been repaid in full. In this case, you can recommend contacting this credit institution, taking a certificate from him, which will contain information about your performance of the debt under the specified agreement. You must immediately submit the received document to the credit history bureau so that incorrect information about you is corrected. A loan application requires a copy of this certificate. In this case, you have the opportunity to correct false information.
Alternative option
If you are wondering how you can take out a loan with bad credit history, then it is likely that this is the situation. Payments on existing loans became overdue due to completely objective reasons. In this case, the bank is required to submit documents that will serve as confirmation of this. For example, you had some kind of illness or you didn’t receive a salary for a long time due to the fault of your superiors, or maybe other circumstances from the category of force majeure happened in your life. If there are real violations, it will be quite difficult to make the credit history crystal clear. But it can still be corrected to such an extent as to obtain a loan with a bad credit history. Banks that give loans can respond better to such a client than to a person who has a bad credit history. When applying to a financial institution for a credit card, it is likely that some of them receive information about the CI of clients not from the bureau that has a file on you.
Offers on the Russian market
All financial institutions are sure to check the data on the credit histories of potential customers, just in some employees this is not very careful. There were a lot of cases when people applied for a loan with a bad credit history at Sberbank. Despite the fact that the audit there is quite thorough, most often employees make concessions to customers, giving them the required amount of money in a loan.
You can specify several banks that show sufficient loyalty in this matter: Tinkoff, Russian Standard, Home Bank, Sberbank, GM Money Bank, Renaissance Credit. Numerous stories and reviews allow us to conclude that all these banks almost immediately give the client a positive answer, even if he wants to get a credit card with a bad credit history. But this requires a few very specific conditions. You can consider each of the institutions.
"Renaissance Bank"
Here, a client who wants to know how to get a loan with a bad credit history can be offered an option with a very high percentage, usually it is within 24-79%. On a credit card, the limit will be limited (300,000 rubles). It takes 1-2 days to consider the issue, no more. A financial institution may request a specific set of documents, as well as a certificate proving your income.
"Russian standard"
In this institution it is possible to get credit cards with bad credit history, to take a loan with a maximum limit of 450,000 rubles at 36%. The grace period lasts 55 days. It is possible that you do not need to provide a statement of income, but documents, in addition to a passport, the bank will definitely need.
Bank "Tinkoff"
This credit institution allows the client to have a credit card with a bad history for a maximum amount (300,000 rubles) at a percentage that is quite high, 42% per annum. In this case, the organization will not require documents that serve as confirmation of the borrower's income. On such a card, the period of preferential lending will be 55 days. If the decision is positive, then the card can be obtained literally on the day of treatment.
Online Credit Cards
A similar service is currently available at many banks. If you apply for a loan in this way at once to several institutions, this will significantly increase the chances for you that soon you will have your own credit card with a bad history in one of them. And it’s pretty convenient. It is possible that you can get a credit card with a bad credit history in a bank in which you do not have a bad dossier, so you do not need to pay huge interest on the loan.
Tinkoff
This bank works in the direction of issuing credit cards specifically for online applications, and quite actively. His proposal is tempting due to the fact that many get a credit card without a visit to the bank, that is, without leaving their home. Delivery to her client is carried out at the address indicated in the application. For such loans, the preferred age of the borrower is in the range of 30–40 years, and this is at a time when the nominal age range is 24–65 years. The exception was Tinkoff Bank, where people aged 18-70 years can count on getting a credit card in the institution itself.
Alternatives
There are other working ways to get a loan with bad credit history.
You can do this at the supermarket. This is called an express credit card. Its receipt is quite simple, but the interest on it is too high.
It is allowed to resort to the services of a credit broker. At the same time, the chances of getting a card become quite high, but the interest rate on it will be incredibly high, since the broker takes a pretty substantial commission for his efforts.
If you managed to get a credit card with a bad credit history, then you can recommend that you use it properly, try not to violate the conditions in order to avoid problems in the future. Thanks to this, your credit history will be corrected to open the way to other banks.
The secret in the docs
If you decide to get a credit card with a bad credit history, take a loan or enter into other debt relations with the bank, you need to be very careful when selecting documents that will be submitted to a financial institution. Quite often there are situations when a person who does not have a credit history at all, was refused by the bank even in obtaining a simple card. And the reason here is very simple. Presenting only a passport, it is difficult to prove its solvency. Of course, in most of these lending institutions, advertising shows that an identity card will be enough to get a loan, but in this case you should have a perfect credit history in order to arouse the trust of the bank.
In the event that your rating is rather weak, you should take care of providing additional documentation. A credit card with a bad credit history can be obtained subject to the provision of a document confirming employment. If it contains information that the experience of your activity at one workplace for more than two years, then the chances of getting it noticeably increase. The income statement is another document that will only be useful. Providing the bank with an extract on loans taken earlier, as well as certificates on their successful closure, are also important papers.
In the presence or absence of the specified package of documents, we can talk about the impact not only on the fact of whether you will be issued a credit card, but also on what credit conditions you will cooperate with the bank. For example, if a client came to receive a card only with a passport, they will, of course, be given it, but the percentage in this case will reach 45%. And if you get a credit card with a bad credit history, a person comes who also provides information on employment and the amount of his fee, then he can reduce the interest rate to 36-38% per annum. It turns out that additional documents do not hurt at all. So, it’s worth the time to collect them.
Another option - MFIs can give a loan with a bad credit history, but at the same time the interest will be much higher than the bank, and the amount is very small.
How to improve or remove CI
At the moment, on the Internet, a lot of our enterprising compatriots offer services to improve or completely delete the credit history. But do not flatter yourself too much, as there are important points. Often the fees for their services are quite high. And it’s important for you to remember that it is impossible to permanently delete a credit history. Therefore, you should ignore such proposals.
Bad Credit Card
First of all, when you become aware of your own credit history data, you should analyze the indicators yourself. The first factor in customer insecurity is late payments. You should review your papers to determine if this is really your fault. It is entirely possible that the bank itself later deposited funds into the account. Sometimes the human factor is to blame when not your data was sent to the credit history bureau, but someone else's, but you suffer from it.
You can get a credit card with a bad history at the bank where you have a deposit, or you get salary through it. In this case, you will have insurance in the form of regularly arriving funds in your account, therefore, it is quite likely that the bank will be allowed to receive a credit card from it.
You can offer such an unusual option, as an appeal to a small regional bank. In such an institution, they can “close their eyes” to your unfavorable situation, but for other reasons - due to a shortage of cardholders and a lot of competition in this market.
Credit history change
Sooner or later they will give you a credit card, there is no doubt about it. However, you should be sure that the bank that has gone forward will try to protect itself. You will be given a maximum interest rate with a minimum credit limit. If you agree to this, then this will be your chance to change your credit history. This will require you to use the card and pay off the debt without any delay. A good option would be a card with a grace period. You will pay it in stores, do not exceed the preferential limit, pay arrears on time without interest, which will improve your credit history.
conclusions
As you can see, there are working ways to get a loan with bad credit history. And there are several ways. And when you receive it, do not repeat your mistakes again, and then everything will be fine. Now you know how to get a loan with bad credit history.