Can Title Loans Increase Your Credit Score?

Posted by Frank on September 16th, 2019

It is common knowledge today that regardless of your credit score individuals can still get title loans. All that is required is a title loan in your name with equity in your car and you are more than qualified to secure a car title loan. However, only few people understand the fact that title loan can help to improve or increase one’s credit score. 

The trend in the way banks give loans to individuals get loans is changing with banks now making the entire process more difficult because they now see individual lenders as high risk renders. Thus they involve lots of credit checks, several documents, and this makes it more difficult for people to secure loans. The standards for banking and financial institutions have changed over time as the trends in the global economy is changing.    

The question now is; what options are available for individual lenders? What do consumers who need quick money and at the same time want to improve their credit rating such that they become creditworthy within the shortest possible time have to do? 

If you wish to get a loan and at the same time you want to improve your credit score, then you can get in touch with a car title loan lender like TFC. Let us help you chart the right path for your financial freedom where you will improve your credit rating and become credit worthy within the shortest possible time. 

Can I Use Title Loan to Increase my Credit Score?

Yes!!! You can improve your credit score through title loans as far as you pay on time and do not default. Paying your loans on time, and paying your utility bills as well will reflect positively in your credit profile. 

Apply for a Car Title Loan to Improve your Credit Score

You can apply for a car title loan online by providing just a few documents such as the title of your car in your name, a government-recognized ID, proof of residence, proof of car insurance, and a few number of references. 

The loan amount you can get is dependent on the value of your can which means you can get as much loan amount as the value of your car. The loan amount that is approved is based on the value of your car and how much monthly income you earn. The approved loan amount is credited into your account within 24 hours from the time your loan application is approved.

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Joined: September 16th, 2019
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