Credit is a funny thing. At some point in our lives, almost everyone feels the need to borrow money against their credit. In that sense, having credit and borrowing against it can really be a lifesaver. However, if you are not responsible with your credit and you end up abusing it, you can easily become a slave to your own debt.

One way to avoid become a slave to your debt is to avoid borrowing against your credit card at all. There are two reasons for this:

* borrowing cash against a card means paying some of the highest interest rates around
* credit cards are a type of revolving debt, meaning that there is no fixed repayment period; without some serious discipline, it can be very hard to pay down your credit card debt once you take out this type of loan

One alternative to borrowing against your credit card is to take out a personal loan. With personal loans, the interest rate you pay will usually be lower than what you would pay when borrowing against a card.

If you need money fast, don’t borrow against your credit card: guaranteed fast personal loans with bad credit are a better way to go. Here are 5 tips for qualifying for personal loans faster:

1. Decide whether you want a secured or an unsecured loan:

Personal loans come in two varieties: secured and unsecured. A secured loan is one whereby you as the borrower put up something of value as collateral. This type of loan will enable you to qualify for a lower interest rate on your loan than if you were to take out an unsecured loan (which requires no collateral).

2. For a secured loan, get your collateral item appraised before applying for your loan:

If you decide to go this route, get your item of value (e.g., car, piece of jewelry, musical instrument, etc.) appraised in advance by a third-party. That way, there is no question as to the value of your item when you apply for your loan.

3. Prepare your bank statement and proof of employment:

You will increase your chances of qualifying for a personal loan if you have a bank account and a job when you apply. Prepare your recent bank statements and proof of employment, such as a pay stub.

4. Have a look at your credit report:

Review your credit report from 2-3 of the big four credit bureaus: TransUnion, Innovis, Equifax, and Experian. Remember, your credit report may contain misreported items, errors, or even evidence of identity theft. That is why it is a good idea for you to go over your reports carefully and get corrected any such items you discover.

5. Apply only to bad credit personal loan lenders:

Limit yourself to applying only to “bad credit personal loan lenders.” There is no sense in applying to lenders who do not meet this criterion: it will just be a waste of your time, since those lenders will focus too heavily on your credit score when considering your application. Meanwhile, bad credit personal loan lenders know how to largely overlook your credit score when determining if you are someone they will lend money to.

Take these 5 tips into account as you learn how to qualify for a guaranteed fast personal loan with bad credit.

Author Bio: Get access to more bad credit personal loan tips and lending resources at: My Bad Credit Personal Lender.

Category: Finances
Keywords: card guaranteed fast personal loans bad credit, bad credit personal loan, poor credit loan