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Bad Credit | Top Companies: This Week's Reviews |
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| Services Offered:
Bad credit loans and credit cards |
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| Company Overview:
Abacus Credit was established in 1998, and use e-mail
only contact methods, so that all information is in
writing. Their loans close in under 30 days in most
cases, and they help over 50,000 consumers with bad
credit every year. The credit card approvals that they
offer are instant, and loans are generally approved
within 24-48 hours. |
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| Our Review:
Abacus Credit is a great company overall. They’ve got
the customer service, the simply designed website, and
all the loan and credit products that someone with bad
credit could ask for. While more information about their
financial situation and background might be appreciated,
it doesn’t affect the great loans and services that they
offer. |
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| User Review:
Abacus Credit was so helpful! They got me a credit card
to rebuild my credit really fast, and the application
was super easy, too. I couldn’t believe that I actually
got approved for a $1000 credit card line, because my
credit was so terrible. Their customer service agents
are really there for you when you need them, too, which
makes you feel less like an outcast because of your
credit situation. |
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| Services Offered:
Bad credit loans and credit cards |
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| Company Overview:
Credit Axis was founded in 2003 to provide lending
solutions to all kinds of credit consumers, including
bad credit holders. They have a network of over 80
lenders and creditors, and have an entire section
dedicated to government funding information on their
website. Their loans are great for credit consolidation,
student loans, bad credit repair, and business startups. |
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| Our Review:
Credit Axis has some great products for all consumers.
Their focus is on helping bad credit consumers get back
on track, which is a great service. Not everyone
deserves to be ostracized for their history, and Credit
Axis understands that. Their website is a little tricky
to navigate, but all in all, it’s a great company for
bad credit needs. |
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| User Review: When
no one else would give me a chance, Credit Axis did.
They helped me get a loan to start my own business, even
though my own financial history was a little less than
desirable. I had a credit score of less than 500, and
they still helped me out. I’m forever grateful to them,
because now my credit is great and my business is
thriving! |
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| Services Offered:
Bad credit cards, guaranteed approval. |
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| Company Overview:
First Plus Platinum was founded in 2007. They offer
credit lines to bad credit consumers for various needs.
First Plus Platinum helps thousands of consumers every
year, and gives people solutions when no one else will.
They’re an online only company, but do offer customer
service via phone for customers and card holders. |
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| Our Review: First
Plus Platinum is great for people who need to rebuild
their credit and have to start somewhere. They have
various credit lines and cards for bad credit, depending
on your specific needs. While it won’t be the same as
any other unsecured credit card, it’s a start. The
customer service is great, but more information about
the company history would be appreciated. |
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| User Review:
First Plus Platinum gave me a chance to rebuild my
credit and take back my good name in the credit
industry. I hit a financial situation where my credit
was virtually ruined and for awhile I didn’t think I’d
ever get the situation fixed. However, First Plus
Platinum gave me a chance and helped me to get back on
track. |
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Other Top Companies for
Bad Credit : |
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Why Bad Credit is Better than No Credit: |
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You’ll often
find that it’s easier for someone with a bad credit
history to get a loan than it is for someone who is new
to credit and has no history. Although it might seem
like giving the newcomer a chance would be a better deal
than giving the guy who’s already proven you wrong a
chance, that’s not how it usually goes. People with
credit history are more creditworthy, regardless of
whether they have good or bad credit, simply because
they have used credit before, and know how to use it.
Their experience makes them better candidates, even if
their experience is bad. People who have no credit at
all are seen as a higher risk because they haven’t been
involved in the credit world before, and they might not
know how to handle themselves in this situation. Bad
credit loans are easier to find than loans for consumers
with no credit for this reason, but also for other
reasons. Lenders understand that people have problems
and make mistakes, and there is a whole sector of the
credit industry that is built on proving that these
people deserve another chance. Bad credit borrowers
might pay more than good credit borrowers in interest
and fees, but at least they’ll get the loan. People with
no credit, however, have no foundation to back them up,
and will often pay even higher rates, unless they get
specialty loans that cater to consumers who are new to
the world of credit. If you have bad credit, you
shouldn’t feel like you’re out of options. There are
plenty of companies that will give loans and credit
cards to people with bad credit, as long as you can
prove that you’re on the track to financial
righteousness by starting to pay off your old debts.
Take the time to shop around and compare your options,
and remember that bad credit doesn’t mean you can’t get
the money you need. You’ll just have to look a little
harder and put in a little more effort.
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Bad Credit Loans : Tools |
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