answersLogoWhite

0


Best Answer

In today's economy, you need good credit for just about any loan and an instant loan is no exception. Also, the higher your credit rating, the lower your interest rate, which is an important factor in considering a loan.

User Avatar

Wiki User

13y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Do you need to have a good credit rating to get instant loans?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

What is the average interest rate on personal loans?

This all depends on how good your credit rating is. The better your credit rating, the lower the interest rates. https://www.lendingtree.com


What must a person do to establish a good credit rating?

To establish good credit, a person must pay back all of the money in which he/she has borrowed through loans or credit cards.


Where can one learn more on loans with bad credit ratings?

Fox Business has a good article on their website about obtaining loans when you have a bad credit rating. It explains what steps you should take to protect yourself and get a good deal when applying for such a loan.


What are private student loans?

The private student loans are the loans arranged by the student through any of the private banks at a fixed interest rate. To apply to these private student loans you need a cosigner unless your credit rating is too good and you have a source of income.


What is the interest rate on instant loans?

It depends on what loan you get and from where. If you have a good credit score, interest rates can start at something around 6.78% APR. People with worse credit will get different interest rates.


What are student loans?

The private student loans are the loans arranged by the student through any of the private banks at a fixed interest rate. To apply to these private student loans you need a cosigner unless your credit rating is too good and you have a source of income.


Can marrying someone with a good credit rating improve your rating?

Maybe or it could bring the other person's down a bit. Depends on how you set up bank and credit accounts, but what you come into a marriage with in bills, loans is yours. The person you marry is not responsible for your things before the marriage. This is also true for you with his/her bills and loans.


What are some of the highest rating companies that offer loans for people with bad credit?

It may not always be easy to find a company which offers loans to people with bad credit scores. However, it is not impossible. Mortgage Credit Problems, E-Loan and Ameriquest Mortgage Co. offer loans to people with bad credit scores and have received good customer feedback.


Which reputable financial institutions offer the cheapest unsecured loans?

Chartered banks add credit unions offer the best rates on unsecured loans. They offer these loans to their existing clients who have a secure income and an good or excellent credit rating. The best rates can be as low as prime plus 1%.


Why is it important to have a good credit score?

credit helps you get loans so that banks know you are good for the money. loans get you cars and homes.


Can you obtain a home equity loan on a family home that does not have a mortgage?

Yes, as long as you have a good enough credit rating to qualify for the mortgage.Yes, as long as you have a good enough credit rating to qualify for the mortgage.Yes, as long as you have a good enough credit rating to qualify for the mortgage.Yes, as long as you have a good enough credit rating to qualify for the mortgage.


Which Banks offer consistently low rates for loans?

Getting a low rate for loans generally requires that one has a good credit rating. Most large banks will offer competitive rates for those with good credit scores. Some companies to consider include Chase, Huntington, and Citizen's Bank.