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sourcrates wrote: »Yes, but they are a sub prime lender, they come with a similar stigma to payday lenders, any high street lender who views your credit file will see you have been using sub prime credit, which will likely trigger a rejection.
Credit scores are largely guess work, and bare no relation to real life decisions, you would be best advised to avoid such lenders in the future, especially after the words of warning, as to there viability, in my previous post.
I agree though it’s not my credit score that I wish to improve.
I’ts my rating which will improve in a few years, once defaults start to drop off and my report can show no missed payments for a few years.
I enjoy the score part only if for entertainment.
I don’t have to defend Avant though I wanted to mention I’ve found them reasonable sub prime lenders and very modern online application process and rapid payment of funds.Replenished CRA Reports.2020 Nissan Leaf 128-149 miles top charge. Savings depleted. VM Stream tv M250 Volted to M350 then M500 since returned to 1gb0 -
I agree though it’s not my credit score that I wish to improve.
I’ts my rating which will improve in a few years, once defaults start to drop off and my report can show no missed payments for a few years.
But it won't improve, if anything it'll get worse than not getting one at all because you're using a sub-prime lender. Mainstream lenders won't touch anyone who has used Amigo, Avant or payday loan companies and if they do you only get offered high interest rates, not the decent ones.
If you are hell bent on doing something get yourself a credit card, even one from Aqua or the like with a nice low max balance, do your normal spending on it, repay in full every month so it doesn't matter what the interest rate is as you'll never pay any as long as you clear the credit card bill in full every month. That will do more good for your credit than taking out an Avant loan.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
But it won't improve, if anything it'll get worse than not getting one at all because you're using a sub-prime lender. Mainstream lenders won't touch anyone who has used Amigo, Avant or payday loan companies and if they do you only get offered high interest rates, not the decent ones.
If you are hell bent on doing something get yourself a credit card, even one from Aqua or the like with a nice low max balance, do your normal spending on it, repay in full every month so it doesn't matter what the interest rate is as you'll never pay any as long as you clear the credit card bill in full every month. That will do more good for your credit than taking out an Avant loan.
Cap1 Aqua Tesco have been included in my credit rating restore plan.
And to mention a high interest sub prime car lender@25+% apr past 3 years, resulted in a purchase of another car start 2017 -@9.7% apr.Replenished CRA Reports.2020 Nissan Leaf 128-149 miles top charge. Savings depleted. VM Stream tv M250 Volted to M350 then M500 since returned to 1gb0
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