Borrow from 2.9% APR with Good Credit Loans
If you have a good credit rating, you can often access loans with the lowest rates and have the highest chances of approval. By having a good credit score, the lender feels confident that you will be able to repay on time, and can reward you with low cost loans as a result.
Lending Expert offers a simple way to compare loans for good credit ratings. With rates starting from just 2.9% APR, customers can borrow up to £25,000 repaid over 1 to 30 years.
Simply click on the lender of your choice and click on ‘check my eligibility’ where you will be taken directly to the lender’s website where you can apply. All applications will be subject to further checks and if your loan is successfully approved, you can typically receive funds in 24 to 48 hours.
The Benefits of Good Credit Loans
- High approval and acceptance
- Same day funding available
Good credit loans are usually types of unsecured loans, where you do not require any collateral or assets to be eligible for finance. Your eligibility is based purely on your income, affordability and credit score and you do not risk losing anything as part of the loan.
What is Considered To Be a Loan for Good Credit?
For many UK lenders, the credit score is a good indication of how well the individual (or company) has repaid previous loans, credit cards and bills in the past. This information is used to determine their future eligibility for loans.
With different credit scores depending on the credit reference agency, if you are in the higher credit rating bracket, you will be deemed to have a good credit score and this will maximise your chances of approval.
- For Experian, your credit score must be between 881-999
- For Equifax, your credit score must be between 420 and 700
- For Callcredit, your credit score must be between 4 and 5
Most lenders will have a minimum score requirement (this will depend on the lender) and if you meet the criteria, you can be eligible for a good credit loan, giving you some of the best rates on the market.
People with good credit scores will usually achieve this by having a strong history of paying off things like credit cards, loans and other bills on time. If you always pay on time and have zero or a limited number of missed repayments or defaults, it is likely that you would have achieved a good credit rating. This is important since it can maximise your chances of being approved for things like credit cards, loans and mortgages – and help you get the best rates.
You can also maintain a strong credit rating by not having too much credit open (such as dozens of loans or credit cards) and if you avoid sharing a bank account with someone with poor credit.
What is The Eligibility Criteria for a Good Credit Loan?
- Employed and working in the UK
- Good or fair credit score
- Able to afford monthly repayments
- Up-to-date with your other financial commitments (no arrears)
- Valid UK bank account, email and phone number
A key thing when determining your eligibility is your affordability. Whilst individuals may have a good credit score, they may have lots of other credit card bills and loans open and any additional loans could stretch them financially.
So taking your affordability into account is key. If you are looking to consolidate your existing debts, you can apply for a debt consolidation loan, which will help you put all debts into one single payment every month.
How Can I Get a Good Credit Score Loan?
You can apply for good credit loans with Lending Expert using our comparison table provided. We have partnered with a number of very good credit lenders who offer low rates for people with high credit scores.
If you are looking for a loan with a good credit rating, it is important that you do not have too many other outgoings or loan commitments, since this is something that lenders will review and want to make sure that you are not too stretched financially.
A soft credit check is taken during the application process, which will assess your credit score and find the best loan for you. During this process, your credit score is not affected and will not have any impact on future applications. When you have completed an application with a lender, you will receive an instant decision and you can choose to proceed further.
What Information Do I Need To Apply for a Loan with Good Credit?
- How much you would like to borrow
- How long you would like to borrow for
- Contact Details
- Employment and income
How To Apply For Good Credit Loans With Lending Expert
Compare good credit score loans using our table provided. We have partnered with a number of competitive lenders who offer low rates and are actively looking to fund new applicants every day.
You can compare the loan duration, loan amounts, repayment terms and more – and when you are ready, simply click on ‘check my eligibility.’
There are no fees for applying through Lending Expert – and there never will be. We will never pass on your details to any other companies without your permission and you are able to apply with each lender directly. Once you submit your information, you will be given a provisional loan decision and if you pass all the standard checks, you can receive funds to your bank account within 24 to 48 hours or the same day of applying.