When it comes to your credit even a few missed payments these days can result in a lender denying you a personal loan. With lenders taking precautions and not really lending to anyone with a blemish on their record, it is hard today to get a personal loan through a bank. If you already own a home and have equity you may be able to get a home equity line through the bank that carries your mortgage. Having an established credit history will weigh heavily in your favor and this is probably one of the best ways to borrow, in comparison to a credit card or other risky and expensive online loans. However, there are personal loans for people with bad credit available.

If you belong to AAA or a credit union these establishments are a lot more lenient on their customers. The rates are low and they go on your personal history taking many factors into consideration such as employment and debt to income ratio, as well as your credit report. By not just using your bad credit score your chances for acquiring a loan are much better and you may find that there are personal loans for bad credit. You may have to settle for one of their higher interest rates initially but you can refinance after a short period of time to reduce the interest.

Depending on the amount you were looking to borrow a secured credit card for someone with bad credit is yet another way to go. While you will need to put a deposit down in order to get the card, after a short amount of time showing on time payments you will not only be offered an increase in your credit line but you will be rebuilding your credit as well. The interest rates are higher than your average card but they will provide you with credit for emergencies. These are available personal loans for bad credit history.

There are some unconventional ways never considered before and for good reasons. Many online lenders advertise daily the promise of getting you the money you need now and without a credit check. While initially this may sound appetizing, one look at the repayment plan should get anyone to immediately change their minds. For some people with terrible credit and no assets, however, it is sometimes the only way to go when seeking personal loans for bad credit. Be careful to only use the service for emergencies and pay back the loan as quickly as possible because the fees can add up to three to four times the amount borrowed.