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FNB Loans for Blacklisted Clients – November

Bad credit is a very serious impact which can leave you searching for FNB Loans for blacklisted.

With that being said, do people with bad credit qualify to apply for personal loans and short-term loans with First National Bank.

Well, you maybe understand that all South African banks are registered credit providers and comply with the National Credit Regulator.

That alone puts you in a back seat of having your personal loan application and short-term loan approved, which is a fact.

The sole purpose of this article with PaidNow Finance guide is to rest assure you that, blacklisted people can also apply for personal loans with other lenders.

We have compiled a list of South African lenders who can assist those who are looking for bad credit loans.

Blacklisted Loan Lenders

  1. Kwalafloloans.co.za
  2. Makandafinance.co.za
  3. Tsheletethuso.co.za
  4. GPcredit.co.za
  5. Lime24.co.za
  6. Blacklistedcarfinance.co.za
  7. Hmtloans.co.za
  8. Prontoloans.co.za
  9. Yebocash.co.za
  10. Powerloans.co.za
  11. Lowbudgetloans.co.za
  12. Xcelsiorloans.co.za
  13. Econlineloans.co.za
  14. Letsatsifinance.co.za
  15. Braamfin.co.za
  16. Uloans.co
  17. PowwowLoans.co.za
  18. Cash-loans.co.za

30 Mistakes You Make That Can Ruin Your Credit Score

It can be tough to figure out what is causing your credit score to suffer.

The fact is that even seemingly minor details can have a significant impact on your overall ranking.

Knowing what can mess you up can help guarantee you don’t damage your credit score, whether you’re trying to improve your credit score or fix credit problems from the past.

Check Your Credit Report Regularly

It’s all too tempting to worry about checking your credit score or becoming too concerned to do so.

Ignorance is said to be paradise by others.

Unfortunately for them, their blissful innocence will come to an end the day they decide to purchase their first house, motorcycle, or apartment.

This is one of the most serious errors you can create, but it’s also one of the most simple to prevent.

Checking your credit score will show you your credit score and warn you if there is any abuse associated with your name. It will also tell you if there is something else that needs to be taken care of.

Paying Bills Late

Your credit score is influenced significantly by your payment history.

A single late payment will reduce a credit score by 100 points or more.

Borrowers, on the other hand, will be able to lessen the impact if they act quickly.

While delaying a payment by a few days is unlikely to harm your credit, paying bills 30 days late or more may have a significant impact.

How to stop it: Do whatever you can to avoid falling behind on your payments.

Set alerts on your phone or device if you are easily distracted.

If you overspend, cut back on your spending so you have enough money to cover your bills.

If you paid a bill late, call your lender to find out how late payments are reported.

You won’t be entitled to get the late payment deleted from the credit record if the lender has already announced it.

What you have to do now is make sure you pay all of the bills on time.

Too Many Credit Cards

Even if you pay off each of your credit cards on a regular basis, having so many available credit cards can be troublesome.

Having too many credit cards will hurt your credit score and your ability to borrow money.

And if you don’t use any of the available credit, lenders can be concerned with what would happen if you did.

How to stop it: having three to five credit cards is normally not a concern.

To keep your usage level low and your credit history long, consider closing one of your newer credit accounts if it gets too high.

In general, having too many credit cards can really have bad impact in your credit history and you might yourself looking for FNB Loans for blacklisted clients.

You Don’t Have Any Credit Cards

Lenders like to have a long history of conscientious credit usage, because if you don’t have one, you won’t have anything to prove.

While it can sound counterintuitive, having no credit cards may be almost as damaging to your credit score as having too many.

If you’ve paid off your mortgage or other debt and are now only buying stuff with cash, you might be ecstatic.

However, if you apply for a home loan, you can find that you are unable to obtain one because you have avoided using credit.

If you expect to apply for credit in the future, you can continue to use credit to demonstrate recent behavior on your credit report.

If you don’t want to open your own credit card account, ask a friend or family member to add you as an approved customer instead.

You won’t have to use the card to benefit your credit score; you’ll actually benefit from someone else’s positive credit habits.

How to patch it: You can still restore your credit by being a registered customer of someone else’s wallet.

Simply ensure that whoever attaches you to a credit account is a conscientious creditor

After all, their poor borrowing habits can appear on your credit report as well.

Close Inactive Credit Cards

While it’s a good idea to keep your credit card use to a minimum, closing expired or unused cards will negatively impact your credit score.

This is why it’s important to avoid closing credit card accounts that have been open for years.

How to prevent it: Keep older credit cards open by using them only occasionally, once every few months and paying off balances on schedule.

How to remedy it: If you don’t trust yourself not to pile up interest on those cards.

Consider canceling newer accounts rather than old ones, so that your credit history isn’t impacted and you don’t search for FNB Loans for blacklisted clients.

Make A Request for A Higher Credit Limit

If your credit card issuer ran a credit check before you paid for the card, it would almost certainly do so again if you request a higher credit cap.

How to stop it: Pay as little as possible under the new credit cap.

That way, you won’t jeopardize your credit.

How to resolve it: This isn’t to say you shouldn’t apply for a higher credit cap — particularly if you’re a conscientious credit user and won’t be maxing out your card.

However, before applying for a mortgage or other loan, you should think twice.

Consolidate Your Debts

If you have debt on multiple credit cards, you might be tempted to merge your debt by converting all of your balances to a single new card.

However, this may be a misunderstanding.

Not only would this reduce the average age of your credit history, particularly if the other cards are closed, but it will also raise your debt-to-account ratio.

To stop a reduction in your credit score, make sure the balance you consolidate does not surpass 50 percent of the new card’s available credit.

Co-Sign on Debt

Co-signing fo friends on credit cards, car loans, residential mortgages, or cellphone contracts will quickly sabotage good credit.

This will have a negative effect on you because the mortgage liability will appear on your credit report right away, and the increased debt burden will have an impact on your credit score.

Second, if your friend or family member fails to pay, the missed payments will appear in your credit report.

If the account is finally turned over to collections, it will appear on the credit report as well.

How to stop it: When co-signing with friends or relatives, exercise extreme caution.

If you should decide to co-sign, make sure you can afford the recurring installments if they become due, he said.

Also, keep a close eye on the account and ensure that no payments are skipped.

How to remedy it: If you co-signed on another borrower’s debt and it’s hurting your credit, try to get the other party to refinance the debt solely in their name.

If it isn’t a choice, you will have to swallow your pride and assume responsibility for the payments.

It’ll be a hard lesson, but you’ll never forget that you shouldn’t co-sign on debt in most situations.

You Pay Wrong Debt First

Your credit score will be improved by paying off your debts.

The amount of change you see is determined by which debt you pay off.

Paying off a car loan, for example, would not result in a significant improvement in your credit score.

Since installment loans, such as auto loans, aren’t weighted as highly in credit scoring as revolving credit, the credit usage on installment loans isn’t as important.

Fix Credit Report Mistakes

If you notice an error in your credit report, you must take action to correct it — and then follow up and ensure that it is corrected.

Otherwise, the mistake will stay on your credit sheet, potentially harming your credit score and making you look for FNB Loans for blacklisted clients.

We advise you contacting the credit bureau that published the report containing the error and requesting an investigation.

Send a letter to the credit provider that sent the wrong details to the credit bureau, such as a bank or credit card firm, to let them know you’re disputing it.

How to prevent it: Avoiding this condition is difficult — after all, a mistake is just that: a mistake.

However, as soon as you notice an error, correct it immediately.

What to do with it: Often double-check the details on your credit report for authenticity.

Credit bureaus are mandated under the Fair Credit Reporting Act to amend or delete incorrect records.

Begin by notifying the provider and one of the three credit reporting agencies — TransUnion of the payment’s due date and receipt date.

Include all supporting evidence as well as a description of the mistake for the better performance.

Too Many Credit Inquiries

Many credit requests in a brief amount of time may have a significant impact on your credit history.

For a number of causes, applying for credit too often may be troublesome.

How to stop it: Under the new credit score scheme, borrowers can shop for related loans, such as car lending, in a limited amount of time without the requests being reported as multiple applications.

How to repair it: Your credit score could improve within three months of the last inquiry if you handle your existing credit accounts well.

You Have Court Judgments

Judgments are public record problems that appear on your credit report that can lower your total credit score.

Unfortunately, paying off these loans can be difficult and will lead you to start looking for FNB Loans for blacklisted clients.

How to stop it: Paying bills on schedule is, of course, the only way to avoid legal decisions.

If you have a debt that was paid a long time ago but is now showing up on your credit report, check with the court and see if the documents have been changed.

You Pay Your Rent Late

Although paying your rent on time does not improve your credit score, doing so late may.

Your landlord will refer you to the credit bureaus if they get upset with your late payments.

How to stop it: Certain landlords encourage renters to pay half of their rent on the first of the month and the other half on the 15th.

This form of arrangement will save you money at the end of the month by preventing you from paying a large bill.

Ask the landlord how you can change the due date to escape the bad habit of paying rent late.

It could be easier to fulfill your commitments if you choose a day that is similar to payday.

If the building owner refuses to cooperate, look for more subsidized accommodation, a roommate, or even a side job to supplement your salary.

Final Thoughts

Ensuring that your credit profile is in a good standing will guarantee you access to many financial services that you need.

It will put you out of the list of people who are searching for FNB Loans for Blacklisted clients and personal loans for bad credit.

Generally, a good credit history is important for every person’s livelihood.

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