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Bad Credit Personal Loan - A changed attitude of lenders towards bad credit
Are you afraid of applying for a loan, just because you have a
bad credit? No need to fear anymore. You need to understand the
fact that you are not the only one whose credit status is bad.
Bad credit personal loan can be a solution to your this...
Debt Help Online - How To Rebuild Your Credit By Consolidating Debt
By consolidating your debt you can rebuild your credit by making
on time payments, paying off your debts, and increasing your
cash reserves. Depending on your debt load, you can improve your
credit situation within two years, enabling to qualify...
Obtaining a Business Loan When Your Credit Rating is Poor
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Poor credit can happen for a variety of reasons. It can be due
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Poor Credit Home Mortgage Loans - The Role of the FICO Score
If you have bad credit history and are looking to get a home mortgage loan, then chances are you are going to need to know all about how the FICO credit scoring system works. FICO – Fair ISAAC & Company – is the leading credit reporting agency that...
Student Credit Repair Solutions for Building Credit
There are solutions for students to repair their credit. Believe
it or not but it is possible to get out of a student loan
obligation. First you must determine what type of student loan
you owe. Once you come to this determination you will next...
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Moneynet warns credit rating at risk when consumers switch current account
As Barclays Bank turns up the current account heat with the launch this week of a new, features-laden current account, online financial data analysis company Moneynet ( http://www.moneynet.co.uk ) warns consumers to look before they switch.
"On the face of it, the new current account offering from Barclays looks attractive,” said Moneynet Chief Executive Richard Brown.
“The bank has admitted it wants to poach customers from its competitors by rolling out a range of benefits that it claims are worth around £1,000 a year if you take advantage of them – but we feel borrowers should be very cautious when considering switching current accounts.
“Despite what lenders say, it is nothing like as straightforward as hopping from one credit card to another, and there is a real danger that account holders can jeopardise their all- important credit rating, as one of the key questions asked by lenders as part of their credit scoring process is “how long have you held your current account?” – a short period of time with your bank could results in a reduced credit scoring.
"And there are one or two other issues with the Barclays offering: the interest free overdraft facility and the interest free Barclaycard for ten months will probably appeal to people who want interest free borrowing. But with UK consumers now in the red to the tune of around £1 trillion pounds, we feel concerned that lenders are inviting account holders to rack up yet more debt.
"If you do borrow money via this account, the sensible option is to clear the debt within the 10 months’ time frame. And borrowers should also bear in mind that there are many products on the market offering interest free credit deals for at least the same period as the Barclaycard proposition,” said Brown.
“We are likely to see a lot more accounts with bells and whistles such as this new offering from Barclays - the current account market is worth billions to the banks and is intensely competitive.
“But our view is that borrowers should examine their real reasons for switching accounts, and ask themselves whether it is worth trading customer loyalty with their existing provider for a leap into the unknown,” said Moneynet chief executive Richard Brown.
http://www.moneynet.co.uk
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Press enquiries
Richard Brown, Moneynet Chief Executive, 020 8313 9030
Cathy Tully, David Andrews Media Ltd 01273 774109
cathy@davidandrewsmedia.co.uk
Consumer enquiries:
info@moneynet.co.uk
http://www.moneynet.co.uk
Editor's notes
Moneynet.co.uk is the UK’s most established personal finance research and data website. The company offers consumers a wide range of low cost financial products: from mortgages and personal loans; to car, home and medical insurance; credit cards; savings accounts and best-buy fixed rate products. Moneynet.co.uk is an ethical, impartial and comprehensive source of consumer finance information, covering the whole of the personal finance sector.
Moneynet was founded in 1997 by Chief Executive Richard Brown to simplify the personal finance market and provide consumers with impartial and interactive information on financial products and services.
* * * * * * * * * * * * * * * * * * *
Online distribution by bigmouthmedia.
Bigmouthmedia is a search engine optimisation + search engine marketing agency, offering paid search (PPC), organic search + link strategy (online PR), as well as consultancy services in online brand protection.
Web: http://www.bigmouthmedia.com
E-mail: rachel@bigmouthmedia.com
Tel: 0845 130 0022
About the Author
Moneynet was founded in 1997 by Chief Executive Richard Brown to simplify the personal finance market and provide consumers with impartial and interactive information on financial products and services.
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