Can I use payday loans to rebuild my credit rating

Shendor

Hi, I had a debt relief order last year which is now ended, but even the local tramp won't give me 5p credit now. I've been using payday loans, scumbags that they are, and have been making sure I repay early or on time. My question is - do payday loans improve my credit rating?
thanks.

Peelerfart

Short answer - No.

They send a signal,in some cases, that you are so desperate for money you'll even got to PDL's.

Try the tramp again.

Shendor

HA! Ok thanks.

dealer_wins

Even better than worrying about your credit rating, start building up your savings so that you will never need another loan again in your lifetime. That will save you £1000s upon £1000s in interest, and you will find you will have a great credit rating (not that you will care anymore LOL)

27col

If you can afford to pay the interest on PDL's then you can afford to put the same amount of money into a savings account. Dealer is giving good advice.

DCFC79

Use pay day loans if you want but if you want a mortgage then you might be unlucky with that.