Various financial institutions out there will offer credit cards to people with not-so-good credit histories. Already, this combination of risk factors is driving up default rates for auto loans — particularly for subprime borrowers with credit scores below 529, according to recently released research on Household Credit Conditions by Moody’s Analytics and Equifax.
You can tell what’s causing you to have bad credit by checking your credit report U.S. citizens are entitled to a free credit report each year from the three credit bureaus So you don’t have to pay anything to check to see what’s causing your bad credit.
The application process is not complicated but the credit limit that you will be issued; upon acceptance, will be dependent on how good your credit rating is. Generally, these cards offer quite a high interest and more than often, a slightly lower limit; especially to those with poorer credit scores than others.
Now, if you are actually looking for the ways to qualify for a car loan with bad credit , then you must know that it entirely depends on a number of factors like your income, how much debt you actually have and for how long you have been serving the present company.