Building your credit history

If you have had trouble gaining the finance you require in the past year, like many others you might be suffering the effects of the recession as many lenders are being far more picky about who they lend their money to.

A study showed that 51% of people who were asked if they had applied for a loan in the past year said that they had been rejected because of their credit file. This large figure shows how important your credit file is, one blemish and you could face the consequences later on.

There are some ways to rebuild this credit file, though. One way is by applying online for one of the many bad credit secured loans or even bad credit mortgages.

They can be applied for regardless of your credit file and the extra loan will allow you to rebuild your impaired credit file, as long as you keep up to date with all payments.