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Unsecured Loans for Bad Credit

Bad credit loans

Bad credit loans

Bad credit loans

A bad credit loan refers to a type of loan that helps borrowers get access to the loan amount even if they have a low credit rating. This loan type will give an individual a free hand in times of emergency without any limitations.

There are many reasons why an individual has a poor credit history, such as missing the previous repayments, bills, etc., which impacts the credit score. Getting loans for people with bad credit is difficult, thus bad credit loans are designed in such a way and can be the best option for individuals who are not eligible for mainstream loans but still need cash for financial emergencies.

These bad credit loans are flexible and will give financial relief, as these loans come in handy to individuals even if there is a low credit score and can cover unexpected costs. The only thing that needs to consider is if the borrower can make the repayment on time, which will also help improve the credit score for future loan requirements.


How do bad credit loans work?

These are designed for an individual with low credit scores and everyone can't get a loan approved with lower credit. So, there are certain loan providers, who will help in offering the loan amounts even if they have a low credit score.

They would rather check on other eligibility criteria like income level, employment status etc. and then approve the required loan amount.

The lender will ask for the required documents which will help them decide if the borrower is eligible to apply for the loan or not. After the checklist is done, then the amount will be disbursed within a day or two to the bank account.


Are bad credit loans more expensive?

Few lenders offer bad credit loans irrespective of the borrower's credit score. Different lenders have different interest rates. While these interest rates are highly dependent on various eligibility criteria, most lenders will look at the credit score and then charge the interest rates. Since bad credit loans are for borrowers who are having a low credit score, the interest charged will be higher compared to other loans that do not approve loans for the ones who have a bad credit score.


How much I can borrow if I have bad credit?

Approving the loan amount is completely based on the eligibility criteria that the lenders present. While if the borrower has a low credit score, then there are other criteria that the lenders check on, which decide on the amount of loan that needs to be approved. If the borrower has a good level of income and stable employment, then there are chances to get the required loan amount or the lenders would try to provide an alternative solution.


What made me have a bad credit history?

If an individual with a bad credit score, then there might be a lot of reasons for it.

  • Doing hard inquiries- Making multiple loan applications leads to hard inquiries every time the borrower tries to apply for a loan or credit. This will give a negative effect on the credit score.
  • Have never availed credit earlier: When the borrower is not having any loan or credit card earlier or is taking the loan for the first time, then the credit score will be low, as there is no chance for the borrower to improve the score in the first place.
  • Not repaying existing loans on time: If the borrower is not repaying the already existing loans on time, then the credit score will gradually decrease and make it difficult to get other loans approved in future.

When should I use a bad credit loan?

Bad credit loans can be used for various purposes, irrespective of the need, as the lender will never ask for the reason behind taking the loan. These loans are generally taken when there is a financial emergency, and these loans can be taken by individuals who are having a bad credit score and can be used for any such financial emergency purposes.


About Us

ClixCredits is a online credit broker that helps you find the right financial services for your needs. We understand that every customer has a unique requirement for a loan. Our simple loan application form makes it easy to find the most suitable solution for your financial needs.

We have a large panel of lenders, and credit brokers who offer you a wide range of loan products. Once you fill out our loan application form, our matching service will instantly search for and try to find the best possible solution.

We do not charge you any fees for using our services or websites. However, we may receive a commission for introducing you to our group of lenders or brokers. In case; you are not approved for a loan or are not eligible for the requested amount, you may be shown an alternative solution and you are under no obligation to accept it.

Note- No one from ClixCredits will ever contact you and request you to send money or buy any other products before receiving your loan.

How it works?

Simplified and designed just for your financial needs

Apply online
Apply online

Fill out our loan application by giving your full and proper details.


Our loan matching service will analyse and search for a possible suitable solution.

Easy access
Easy access

If you are accepted, you will be redirected to the lender's page with an offer and you are under no obligation to take it.

Get funded
Get funded

After verifying your documents, If approved, lenders will deposit your loan amount into your bank account.

Why Choose Us

Wide range of lenders

Wide range of lenders

We are a credit broker and we have a panel of lenders.

Easy to Apply

Easy to Apply

Our website is fully optimised, so; you can manage the application from anywhere.

Safe and Secure

Safe and Secure

We respect your privacy and see that your data is safe and secure with us.

Eligibility Criteria

Be a UK Resident
Be over 18 years old
Have a UK bank account
Be in a Full-time / Part-time employment
Meet the lenders’ criteria and credit affordability assessment

Frequently Asked Questions

APR Disclosure

Representative example: £1000 borrowed for 12 months. Total amount repayable is £1357 in 12 monthly instalments of £113.08. Interest charged is £357, interest rate 49.9% pa. Representative 49.9% APR.


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