good credit loan

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What is a good credit loan?

Good credit loans work in an extremely similar way to the more commonly talked about, and similarly named, poor credit loans on the market. The name is quite self-explanatory, in the sense that this kind of loan is aimed at those who have a good credit profile. Those who have a strong credit score are usually able to benefit from better rates on loans available, as well as more beneficial terms and conditions on these products too, but it is worth remembering that the acceptance criteria for this category of loan can be particularly stringent, which you should bear in mind if you are considering making an application.

What is the criteria for a good credit loan?

You may be wondering what exactly is the eligibility criteria for a good credit loan customer. In terms of the wide range of companies (who are FCA authorised and regulated) that our team at Proper Finance works with, the exact terms will be dependent on the provider in question.

However, generally speaking, you will find the criteria that is listed below is commonly cited by the providers we work with who provide good credit loans to borrowers:

  • You will need to be over the age of 18 in order to apply
  • You must have a valid UK bank account to make an application
  • You have a valid debit card
  • You are on track with your finances
  • You have never missed a repayment
  • You have never missed any more than two payments
  • You have demonstrated you can take out credit and pay it back promptly.

If you have a low credit score because you have a number of missed repayments on file, have CCJs or bankruptcy on your file, or never taken out credit before then it is unlikely that you would be approved for a good credit loan. Nevertheless, Proper Finance can still help you with your loan needs through one of other available funding products.

Why choose to apply for a loan with Proper Finance?

With so many loan broker firms available to choose from, you may be wondering what sets us out from the rest. Here are the main advantages that you can benefit from by choosing to apply for a loan through us:

  • If you apply today for a good credit loan with Proper Finance, you do not need to pay any upfront fees, unlike other companies on the market
  • We will not pass on your details to third parties, unless you have expressly stated your permission
  • Your information is safe: our site is always on a secured server (https) in order to best protect your details
  • Comparing loan rates is easy with us: you can do so amongst several competitive lenders
  • There are a variety of different loan products that you have the ability to choose from.

How To Apply With Proper Finance 

Want to make an application with Proper Finance today? Great! Applying for a good credit loan through our site is incredibly easy to do and it is also secure too. All we require from you is to click apply now on our site, which will take you to our online application form which you will need to then fill in.

Wondering what is involved with the Proper Finance application process? We ask some basic questions first to determine your eligibility, and completing this form will only take you a few minutes at most. You will receive an instantaneous decision as to whether the loan application can go ahead to the next stage, so that you have a little peace of mind and can quickly move on with getting a loan. Once this has happened, we can start working together with you and our reputable, FCA authorised lenders to help you find the very best deal for you, based on your individual circumstances. So, what are you waiting for? Get in contact with us today. We look forward to hearing from you shortly.

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What happens if I can’t pay back my good credit loan?

If you manage to meet the requirements of a good credit loan, but do not pay it back, it may be very well the case that it is difficult to apply for the same product in the future. Why? This is because it can result in your credit rating being negatively impacted.

This is why it is vitally important that you have thoroughly considered a realistic repayment term when applying for a loan with any one of our providers. If you expect that you will not be able to make a monthly repayment, always make sure that you have notified your chosen lender in advance.