Loans for Good Credit Holders

If you have a good or spotless credit history then you can get some of the best deals when it comes to loans, with loans at rates of 32% or lower. So, go over to our comparison chart to see what deal is best for you.

Check your credit file

A loan for a good credit holder is exactly what it says on the tin, and so you must make sure you have a good credit score before applying. If you don’t check your score beforehand and you subsequently get rejected from an application, your credit score could be affected. You can check your score on Credit Portal.

Loans from the Bank

A bank or building society are key examples of companies that can offer a bank loan, along with a few supermarkets that possess a banking licence. These loans are unsecured, and rely on a good credit score to prove that you are capable of repaying the amount borrowed. Since they only lend to those with good credit scores, bank loans offer some extremely competitive rates from 3.2%-12.95% representative APR for a loan over the period of up to 7 years for amounts from £500-£25000. Along with a good credit rating, banks will only lend to people who are 18 years old or above, in possession of regular income, a bank account which allows you to set up direct debits, and a UK residence history of at least 3 years.

Loans from the Supermarket

Recently, supermarket loans have been opened up to those who have a good credit file, with loans varying from £1000-£25000, accompanied by some of the lowest rates going, and a loan duration of 1-5 years.

A supermarket loan is unsecured and therefore they base their judgements on your credit score to determine how likely it is that you will be able to keep up with the repayments. Supermarket loans only go to those who have a perfect credit history, hence the low rates of interest offered. You must also be 18 years or older, have a full-time job, a bank account which allows you to set up direct debits, and a UK residence history of at least 3 years.