Article Categories
» Arts & Entertainment
» Automotive
» Business
» Careers & Jobs
» Education & Reference
» Finance
» Food & Drink
» Health & Fitness
» Home & Family
» Internet & Online Businesses
» Miscellaneous
» Self Improvement
» Shopping
» Society & News
» Sports & Recreation
» Technology
» Travel & Leisure
» Writing & Speaking

  Listed Article

  Category: Articles » Finance » Loans » Article
 

More credit card applications turned down.




By Andrew Regan

A payday loan is the perfect way of funding a one-off purchase when you don't want lingering debts and credit card bills accruing interest like there's no tomorrow. Payday loans range from £80 to £1,000, and with interest rates reasonable and affordable, you will manage to pay off the loan far quicker than paying back escalating credit card debts.

Sometimes you want quick access to money to fund a one-off celebration or unexpected household costs, for example, but you don't want the incentive to remain in debt offered by a credit card. You want an instant loan which can be paid back on pay day – in short, a payday loan.

Also, it is well known that people have to overcome bureaucratic hurdles and wait for days on end to receive a new credit card, which can prove especially problematic if you want a quick and moderate injection of cash. Yet new research reveals that 1.7 million credit card applications were turned down in the past year alone.

Not only does this reveal the difficulties facing millions of people in gaining access to credit cards, it also highlights how credit cards have driven people to accumulating uncontrollable debts: financial firms are tackling this collective debt by tightening their lending policies.

Being turned down for a credit card is unsettling and it is difficult to find out why you were rejected. Sean Gardner, MoneyExpert.com's Chief Executive, explains: "The days of easy credit are drawing to an end for many people. It is important to understand your credit profile and be realistic about the products that are suitable for you.

"The risk of being declined when you apply for a credit card, loan or mortgage appears to be rising among those applying to the wrong type of lender."

MoneyExpert's research suggests that many people are simply unaware of any source of loan except credit cards. It found that 60 per cent of people would apply again if an application was rejected, with 12 per cent saying they would apply again to the same lender and 48 per cent to another company. Only 20 per cent would give up altogether. Of the remaining 20 per cent, 18 per cent said they didn't know and two per cent refused to answer.

A reputable company such as My Payday Loan will treat each individual case as it comes and get back to you immediately, leaving no room for ambiguity. You will never pay back any more than is explicitly stated and fees do not exceed £25 for every £100 borrowed. What's more, there is no risk of seeing weighty longer-term commitments accrue because you pay a payday loan back on the best day of the month: payday. With a credit card, in contrast, you are allowed so much time to pay back your bill that before you know it your monthly interest payments have skyrocketed and your personal debt gets out of control – hence the reason credit card companies are rejecting so many applications. With a payday loan there is no chance of that happening.

Disclaimer: All information contained in this article, is for general information purposes in the UK only and should not be construed as advice under the Financial Services Act 1986. You are strongly advised to take appropriate professional and legal advice before entering into any binding contracts.
 
 
About the Author
Andrew Regan is an online journalist who enjoys socialising at his local Edinburgh rugby club.

Article Source: http://www.simplysearch4it.com/article/32326.html
 
If you wish to add the above article to your website or newsletters then please include the "Article Source: http://www.simplysearch4it.com/article/32326.html" as shown above and make it hyperlinked.



  Some other articles by Andrew Regan
What sort of London hotel will suit your short break in the capital?
If you're planning a trip to London, it can be difficult to find accommodation in an appropriate location. Not only do you have to find a location which is accessible and within close ...

Hire a car and see more of South Africa
As winter looms on the horizon, the long haul holiday market springs into life offering sun and heat in the southern hemisphere. From the cosmopolitan offerings of Cape Town and Johannesburg to the wilderness of the ...

Car Hire in Australia for the best of Down Under
Travelling from the UK, you can't get much further away than Australia, a diverse land of wildly different natural history and wildlife. A trip ...

Epson Ink Cartridge Sales set to increase.
Epson is currently top of the printer manufacturer sales listing, with five of the top ten best selling inkjet printers of the summer. ...

When it comes to finding your dream holiday - thank goodness for the internet!
I know I speak for many when I say that there is nothing more annoying on a hot summer's day than having to sit for hours in a crowded, noisy travel shop ...

The Guggenheim Museum - Solomon R. Guggenheim's great gift to New York City
New York is more than America's largest city: it has been and continues to be the inspiration behind much of the country's most enduring pieces of art and ...

  
  Recent Articles
One Hour Cash Advance
by Peter Hughberry

Solve Your Debts With Credit Card Debt Management Plan
by Elaine Owen

Approves loan amount faster - Online personal loans
by Ashley Lewis

Cheap Car Loans Uk:Grab The Opportunity To Buy A New Car!!
by Aldrich Chappel

Get Bad Credit Unsecured Loan with No Hassle in UK
by Anton Gabriel

For The Van Of Your Choice: Used Van Finance
by Bonnie Castle

Finance on Low Rates Is Possible Through Personal Loans
by Peter Taylor

Secured Loans- Money at reasonable rates
by Joanne Clive

The dos and don'ts of adverse credit car loans
by Joanne Clive

Redeem your business ideas with business loans
by Angelo Drew

Unsecured personal loans: Easier and convenient
by Elizabeth Swann

Low Rate Secured Loan: Avail The Benefits Of Low Rates
by Aldrich Chappel

Can't connect to database