Having a bad credit can sabotage your chances of getting a good loan. However, the chances are not completely ruled out. With the digital technology, you can explore the options. Following are some of the ways through which you can get a good loan even with a bad credit.

    
•    Line of Credit: This is a lucrative option especially when you have bad credit. Line of credit gets you the eligible loan amount that lets you pay interest only on the amount used. You must check your eligibility for the line of credit before getting it approved. One can get up to Rs. 5 lakhs as line of credit. Lenders such as MoneyTap, StashFin, etc. let you download the app and apply from your mobile with no paperwork.
•    Debt Consolidation Loan: When you have bad credit with multiple loans, it could be hard to pay back all separately. With the debt consolidation loan, you can unify all the loan under a single loan and pay to one lender. This could help you to pay off the loans and make repayment towards a single loan. You can get a guaranteed approval if you are able to make a certain percentage of payment upfront. Normally, you can get up to a certain percentage of overall loan amount as debt consolidation loan.
•    Secured Credit Cards: This is another good option wherein you can get a credit card for short-term needs. A secured credit card can be obtained against your fixed deposit. The lenders offer credit limit up to 80% of your fixed deposit. Quick approval is guaranteed on such cards as the lender has the advantage of your fixed deposit.
•    Secured Loans: Though an unsecured loan could be difficult to get with bad credit, a secured loan can be easily availed at moderate terms. Pledging your assets such as gold, land, home, commercial property, etc., can help you obtain funds for your immediate needs with bad credit.

    
Having bad credit is not permanent; you can always take actions to clear your past issues and get back on track to good credit health so that you will be eligible for better terms on loans. Looking for a loan or credit card with poor credit score? Check your eligibility here at free of cost.