What issues are preventing you in getting credit-card loans?

  • Posted by Emily Hilscher
  • November 14, 2017 4:41:24 AM PST
If you are facing any trouble in receiving credit-card loans for improving or renovating your home then you should take the help of any loan-broker. Loan-broker will help you in making easy application for your desirable amount of loan. Your broker will also enable you getting the best deals on credit-card loans.

If you are in need of small amount of money for renovating your house then you can use your credit-cards for receiving short-term loan for home-improvement. But in that case make sure that all your outstanding dues have been already paid without involving any late or penalty charges. To be more precise, this is one of the best strategies for receiving instant home improvement loans.

 You got to abide by some established criteria for receiving loan against your credit-cards smoothly. For more intricate info, you are recommended contacting your credit-card company. The company will tell you details regarding how to get easy funds for home-improvement from your credit-card. Certain factors might come in your way of receiving credit-card loan and you should know them for removing probable hindrances.

Issues coming in the way of credit-card loans:

  • Lower credit-history: Lower credit-score can be a negative marking for those fellows who are intending applying for any fresh home-loan over their credit-cards. The banks find these candidates pretty risky and thus reject their application.
  • No credit-history: Banks find it very difficult in judging the creditworthiness of those borrowers who have got no credit-history at all.
  • Current credit-exposure level: If you are already taken multiple loans over your credit-cards and are still repaying them off then the bank will not accept your next application immediately.
  • Multiple balance transfers: Multiple cases of credit-card balance-transfers might create a wrong impression as a result of which banks might get skeptic. In most of the cases, it has been found that candidates having multiple bank-transfers are not eligible of receiving credit-card loans at all.
  • Non-listed company employment:  Employees of Non-listed private concerns often face difficulties in getting a home-loan against their credit-cards. If you have got higher post with a healthy amount of salary and good credit-score then only the bank will consider you as an applicant.
  • Age restrictions: Both senior citizens and minors often face troubles in making timely repayments due to low or no income. This is the reason most banks hesitate offering loans for home-improvements to them.
  • Income level: If your income-level is too very low then in that case your bank will not allow you to make application for any loan. In this case, your income should match-up eligibility-norm and then only the loan-application can be made conveniently.
  • Residential area or profession under defaulter’s list: There are some blacklisted residential areas or professions where banks never issue any kind of loan. If either your location or profession found under blacklisted category of your bank then you will lose your eligibility of receiving home loans against your cards.

Nowadays, Credit-card loans are treated as one of the most popular schemes under installment loans UK. This is because you can easily avail the option of making installment payment in this respect. Moreover, if you make regular repayments then you can also gain great reward-points over your cards. These points will ultimately make your credit-score improved to a great extent.