Bank Loans vs Payday Loans

With the influx of payday loan shops on our high-streets today, it can often make one wonder whether taking out payday loans no brokers would be a wise thing to do; how would they compare to a loan given by a bank? To answer this question and to decide which option would be best for you, you would have to take many factors into account including your current financial circumstances, credit score, and more.

Your Credit Score

We’ll talk about your credit score first, as this is probably going to be the most important thing in the eyes of your lenders. The majority of banks may be hesitant to lend money to you if you have a bad credit score, this means missing payments, going overdrawn for extended periods of time, and just overall being in a bad financial standing. In contrast to this, payday loan shops have been made specifically for people with poor credit scores who are unable to get a loan from their bank. So even though the interest may be higher on a payday loan, it may be your only option if you don’t have a very good credit score.

Duration of Loan

Generally you will want to go for a bank loan if you intend to have the loan for a long time. This is because the interest rates are much lower so it will be much better in comparison to taking out a payday loan. Also if you are making a more expensive purchase and taking out large sums of money, it would be a wise choice to do this with a bank whom you trust and have an already existing relationship with, rather than going to a brand new payday loan shop on the high-street.

Payday loans uk may be better suited for you if you only intend to have the loan for a short period of time, hence the term “payday loan” – their main purpose is to provide you with extra money until your next payday – don’t take a payday loan out if you plan to have it for longer than 30 days as the interest rates will be sky-high.

Conclusion

To conclude, the best option when taking out a loan will depend entirely on your own individual circumstances and you will have to take a lot of factors into account. For short-term loans that you intend to pay back by the end of the week or so, a CheekyPayDay payday loan may be more beneficial as it will be simpler to get approved for and the interest rate won’t be too high.

In contrast to this, you will definitely be better off taking out a bank loan if you’re going for a more long term option. This is simply because the interest rate will be much lower and if you’re taking out large sums of money, you will probably be more comfortable going through an organization such as a bank. However, you may struggle to get approved for a bank loan if you’re credit score isn’t very good, so you should keep this in mind.

Cheapest Time to Book a Holiday

Booking a family holiday much earlier than the travel date, is the most ideal thing to do. This is to take advantage of offers from tour operators like low deposit schemes or free child spaces. In addition to this, most hotels give early-booking bids for up to 30% off, with their expiry dates in the month of December to January. Predictions that the UK economy is expected to outgrow the entire Europe has led to competitive prices in European campsites. So when is the cheapest time to book a holiday in the UK?

The best and cheapest time to reserve a Eurocamp holiday is between January and 5th March. This is the period where you can receive a number of exceptional offers, including a 20% price reduction on chosen sites in the month of July and August. Parks like Playa Joel on Costa Verde and St Avit Loisirs in the Dordogne are some of the areas that give special offers to the early booked clients. You can also opt for ferry travel as one cost-effective method to reach to your destination. If you desire a bigger accomodation in a certain location, it is advisable to book as early as possible.

According to the travel industry, Tuesday is always the cheapest day to fly. This is because it is not a busy and big day for business travel. Typically, Tuesday through to Thursday is the time to travel if you want to cut costs. The industry also advises holiday travelers to book early morning flights since they are much cheaper and have fewer delay chances.

However, when it comes to holidays outside Europe, there might be a little difference in bookings. For instance, if you desire to travel to Greece for some winter sun, the best and cheapest time to book is end of November through early December, just before the busy Christmas and New Year hurry. Cheapest fares to Australia and New Zealand are often in their winter, which is May and June. The paramount time to travel to The Caribbean for cheapest deals is normally between May and September. This is when most hotels have great special deals and air tickets are at their cheapest.

If you want to visit the US, book your flights in January and February. In many tropical areas such as Asia, the months of May, June and October have the best values. This is because it is when lower air transport and hotel rates are offered. Do not wait till you move in to July and mid-August as this is when tourists and many overseas students from Asia want to tour then.

Last but not least, there are people who just love city breaks. If you are this kind of person, you will always get cheap and best prices from January till the end of March. Moving forward, prices tend to rise since the weather is improving. August and mid-December are also good moments you can use for your city break. This is because it is a time when business trips drops off. This implies that you can get good transport offers and best prices.

Top Ways to Improve Your Credit Score

The life which we are leading is full of uncertainties and it is quite impossible to predict the happenings which we may encounter in the future. Sometimes, due to various reasons, you will face deep financial troubles, and in these moments, you will require emergency financial assistance to overcome the issues. In these times, people will usually approach their banks or other financial institutions to avail the help. But, nowadays, banks and other financial institutions are becoming very picky while lending money to people. They used to analyze various factors before sanctioning a loan, and one such factor is your ‘credit score’. There are various tips you can follow to improve your credit scores, and some of the most noted ones are mentioned below.

Analyze and proof check your credit report regularly: This is the primary tip you should follow to improve your credit score. If you apply for mortgages, the lending company will take your credit report, and they will evaluate it before sanctioning the amount. So, you should always make sure that your credit report is accurate and it is free from all kinds of errors. Even small mistakes in the credit report will drastically affect your scores, and this may negatively impact the chances of getting financial assistance. So, review your credit report in a regular basis, and fix the errors without any delay.

Repayments should be paid on time: Almost all lenders are very strict about repayments, and if you are the one who makes delay in this area, then the chances of getting financial assistance will be very less. You should always make sure that you are not missing even a single mortgage payment. If these lenders find missed repayments linked to your credit history, then it will create a negative impact, and they will think that you are a failure in managing the debts properly.

Get registered in the Electoral Roll: Enrolling in the Electoral Roll will help you to get the credit in a much easier manner. So, if you are eligible to cast vote, then make sure that you are registering your name in the electoral roll using your current address. In case, if you are moving to a new place, then make sure that you are adding your name there without any delay.

Keep Calm: Many people used to send too many applications for credit in a rush. This is absolutely a bad idea, and it will create a negative impact in the minds of lenders. Lenders will think that you are desperate to get money, and sometimes, this hurry dying attitude will end up in worse results.

Try to close unused accounts: Another best way to enhance your credit scores is by closing unused accounts. This will help the lenders to understand more about the credit limits available to you. You should also try to keep your balances as low as 25%, and this will give a positive feel to the lenders. Low utilization is undoubtedly an encouraging factor, and they will lend the money without any hesitation.

All the tips mentioned above are highly effective, and when implemented will help you to improve your overall credit score.

A Quick Guide to Payday Loans

For those who might perhaps not be in the know, payday loans happen to be high cost, short term loans that virtually anyone with a steady income can successfully apply for. The following is a quick guide to payday loans and just how they work. These cash advances usually don’t require collaterals, unlike traditional loans, and can come in very handy should you find yourself desperately in need of urgent money. Such as when you accumulate unforeseen medical expenses or any other emergency bills that need to be cleared in a very short period of time.

Despite their seemingly unmatched convenience (you can even get the cash you need on the same day you apply), it is not advisable to opt for payday loans until you have exhausted all other means of getting the money you need. As most individuals have learnt from painful experience, they can prove to be very costly.

Like earlier mentioned, these loans are typically short term, and can last for just a few days, weeks to a maximum limit of one month. You can be in an excellent position to effortlessly borrow up to one thousand pounds sterling from most payday loans lenders. But it is always vital to be absolutely certain that you can clear it on time. As failure to do so can result to your being obliged to pay hefty rollovers, which can prove to be difficult to offset should you possess a meagre income.

To make things even worse, some payday loans lenders insist on their clients clearing their debts utilizing a continuous payment authority (CPA) sometimes called a recurring payment. This basically gives them the legal right to take any payment that you might owe them directly from your bank account without consulting you. Which can naturally present disastrous ramifications on your finances.

Additionally, failure to clear a payday loan on time can of course hurt your credit score. Which can effectively curtail the chances of your being eligible for other loans, especially mortgages in the future.

It can thus be extremely prudent to try all other means of getting the cash you need that might be open to you, before deciding to take a payday loan. These can include using an existing credit card (if you are sure you can pay back in full) to get interest free cash advances. You can also apply for budgeting loans or advances from your local council or job centre if you are on income benefits (You can get up to 1,500 pounds interest free loans from such outlets). If the following options are not open for you, you can try to get a soft loan from a close relative or friend.

Should you still think that a payday loan is just what you need; the following are the general requirements most lenders demand before advancing such money. You will have to be at least 18 years old, possess a regular income, and pass a credit check. You will also have to produce authentic proofs of your identity, and more to the point income.

How to save Money on International Car Hire

There are numerous car hire companies in the UK that are willing to offer their services. You can go for the best international car hire companies in UK in order to get real value for your money. This does not imply that you will spend too much as most people think. You will need to follow the following tips to spend less when hiring a car from such companies.

Make your bookings in advance

You can save up to 100 pounds by booking earlier in a car hire company. Take for instance, if one makes a booking during off peak hours when there is a low demand, you will end up paying less. This is not the case for anyone who books the moment they reach the destination and want to use the car as soon as possible.

Find the best deals using comparison sites

The best way to find prices of some of the best car hire firms in UK is by checking over the internet. It is important to compare prices of various firms before you finally book. This enables you to find one that has affordable rates hence saving you money. Examples of these sites are Kayak, Carrentals.co.uk and TravelSupermarket. After finding the cheapest deal, you need to go through the checklist again so that you do not miss out on any other deal before booking.

Check on the fuel policy

Most car hire firms have a tendency of giving customers a full tank so that you pay for fuel before using the car. In fact they ask you to return it empty as you will not get your money back for any unused fuel. This is a waste of money especially if you will not use the car for a long distance. Besides, the amount of fuel charges by some car hire companies is higher than the local prices. Therefore, look out for those firms that have a policy of refunding money for unused fuel. You can do a search on the fuel policy by car hire companies through various sites like Enjoy Car Hire, TravelSupermarket, Auto Europe and Moneymaxim.

Avoid excess insurance’ scare

Some of the car hire companies will convince you to get insurance which might cost as high as 27 pounds daily. The best way to save money is to get the policies from standalone providers. In fact you will find that the charges are very low starting from 2 pounds daily. There are two options and first is to compare prices using comparison site or get a quote from the providers. It is advisable to go with both so as to save the most money.

Buy annual excess cover

It is important to remember that, whenever you book a car more than once annually, you have to get annual excess insurance policy. A case whereby you will be a way for over two weeks, the policy will be cheaper. However, it might entirely depend on the company in some occasions.

Avoid child seat costs

It is quite expensive to hire child seats from any car hire firm. The child seat is mandatory in Europe for children below 3 years. This is a very important factor that you should consider before making your bookings. You can save money by carrying your child car seat with you if you will be travelling with your child.

You need not to spend much when there are ways to save money if you need services of a reputable international car hire firm.