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Through Reprise Financial, getting back your financial freedom is as easy as 1-2-3.
Get answers to your common questions
Check out our Resources Page for up-to-date financial tips and information.
Five simple steps to improve your credit score no matter where it falls on the credit report.
Learn the different benefits between credit cards versus installment/personal loans.
The answers to the most frequently asked retirement savings questions.
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- Fixed monthly payments
- Loan amounts from $2,500 to $25,0003
- Use one personal loan for multiple projects or unexpected emergencies
- Secured and unsecured loan options available
How do I qualify for a personal loan with a fair credit score?
To qualify for a personal loan with a fair credit score, you should be prepared to submit your personal information as well as proof of income and your financial and credit history. You should also take a look at your debt-to-income ratio (DTI). If that figure is high, evaluate whether you can decrease it by paying down some of your other outstanding debts. While your debt-to-income ratio is only one component in the evaluation process, it’s a factor that can significantly impact your chances of approval.
Can I find personal loan options online with a fair credit score?
Online lenders offer various borrowing options for individuals with fair credit scores. Some online lenders specialize in working with people with fair to poor credit scores and may provide the opportunity for individuals to view potential loan offers by submitting a preliminary application. This process, known as prequalification, generally allows individuals to check for loan offers without impacting their credit score. While these loan offers are not guaranteed, the prequalification process can give individuals an overview of possible loan rates and terms with different online lenders.
How can I improve my credit score?
There are several simple things you can do to boost your score. Suppose you want to raise your credit score within just a few months. In that case, you should start by evaluating your financial history and understanding what is contributing to your credit score. You may want to request a free copy of your credit report from Annualcreditreport.com, which is maintained by the national credit reporting agencies (Experian, Equifax, and TransUnion). You can request a free copy of your report every 12 months from this website. Note that you can only review your credit report here, not your credit score.
If you have any debts that went to collections or missed bill payments, you’ll want to take care of those as soon as possible. You can also take a thorough look at whether there are any inaccurate remarks on your credit report. If you find mistakes or incorrect information, you can submit a request to fix the error directly to the lender or to the national credit reporting agencies.
Additionally, if your score is low due to a lack of history and remarks, then requesting additional credit, such as applying for a new credit card and consistently paying off the account balance, could help raise your score within a short period.
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