Everyone worries about bad credit. It’s just a fact of life—you don’t want a paper trail of bad credit anywhere near your name.
What if I can’t get a loan to buy a house? What if I can’t get a loan to buy a car? Do these questions keep you up at night?
You have to consider yourself pretty lucky if you make it through life without so much as a little bad credit. It affects even those financially savvy individuals in some capacity.
Overall, bad credit shows financial institutions who they should invest in. Banks believe that your past financial record is a clear indication of your future financial record.
This statement is obviously subjective. You could bring your bankrupt business back from the brink, completely reinventing your financial status. But not matter what you day to change your situation, the reality remains the same: bad credit is bad.
So, where can you get bad credit loans in New Zealand? Pretty Penny, of course!
Continue reading to find out how bad credit can affect mortgages, car loans and insurance, credit cards and what you can do to avoid it!
Pretty Penny only offers short-term solutions of up to $500 and although it doesn’t seem like much against a house mortgage, it certainly helps when you’re in need of a quick helping hand. Bad credit isn’t a factor at Pretty Penny! We’re here to help!
House mortgage loans
Unless you have hundreds of thousands of dollars lying around, when buying a house, you will most likely need to apply for a loan. We would all have houses if banks didn’t check our credit histories!
The ideal outcome when applying for a home loan is a reduced interest rate. The worst possible outcome is high interest rates, or worse, being denied.
Financial institutions will select an interest rate for you based on your level of risk. In summary, the bigger the risk, the bigger the interest rates.
How does this apply to Pretty Penny? We offer all of New Zealand short-term, same-day loan products, regardless of bad credit. If you already have a mortgage but are perhaps struggling to make this week’s repayments, fill out the application today.
Car loans and car insurance
The same goes for cars… unless you have the exact amount of money to purchase a new or secondhand vehicle, you might consider calling on some financial assistance.
That dream car you have always wanted may be out of the equation if you have bad credit. The interest rates too high!
Car insurance on the other hand, is perhaps something Pretty Penny can help with. Car insurance, car registration, electricity bills… don’t they all seem to arrive at once? Will your nest egg cope if and when they do?
See where this is going?
Credit cards also incur high interest rates. The best part about our bad credit loans in New Zealand is that they can be used to pay off existing credit card debt, before it’s too late!
If you don’t want to compromise your credit history, applying for a short-term bad credit loan may be for you. The repayments are easy to manage!
Applying for a bad credit loan
We pride ourselves on being more understanding than New Zealand banks. Even with bad credit history, we can find a solution for you.
Being able to pay off credit card debt on time can often improve your credit profile. So, taking a short-term loan to pay off debt is often a great choice.
To start our simple online application form, click Apply. Or if you would prefer to talk privately with an understanding member of our customer service team, please ring 0800 835 356.
All we need from you is your personal details and a bank statement! Easy, right?
Get back on your feet
If you have recently become unemployed, need to pay your car insurance or pay off credit card debt before its due date, call on the Pretty Penny team. Our New Zealand company is here to assist everyone by offering bad credit loans.
Everyone falls on hard times, and we are here to offer you a leg up. Always remember that bad credit doesn’t have to be a deal breaker. Pretty Penny can assist you in changing your bad credit rating by establishing regular repayment schedules with your other lenders.