Credit

Automobile Loans for Bad Credit

Buying a new or used automobile can be a stressful time, especially if you have bad credit. Not knowing whether or not the dealer will accept you based on a credit report that doesn't tell the whole story can be a disservice to you. We all have come face to face with financial hardships and sometimes we just need a little extra cash to get us through difficult times. Life shouldn't be put on hold if you have less than perfect credit. At Citizens Savings & Loan we can help with automobile loans for those that are looking to repair their bad credit.

Car Loans When You Need It
There are not too many things more aggravating than having a car that no longer works. Your car is an important part of your life. If your car is out of commission, and you can't get to work and it makes it difficult to earn the money you need to pay your bills on time. When you can’t pay your bills on time, you can be left with a less than perfect credit rating. We want to help all of our customers who are in search of an automobile loan. Loans for older cars, trucks, vans of $1,000 to $15,000 are our specialty, but we also make auto loans up to $20,000 and more. Before you talk to a dealer about a loan, come see us first. Below are a few reasons why you should talk to us first. We can help you by

Offering competitive rates and payments for those with bad credit.
Accepting older cars and trucks as collateral.
Offering no cost or obligation in talking to us first.

Apply online today, and see why Citizens Savings & Loan has been a solution for people in Tennessee since 1917. If you would like to learn more about how we can help you financially, we invite you to give us a call today and speak to one of our loan representatives.

Posted: April 30th, 2012 | Permalink

Consolidated Loans for Bad Credit

Sometimes the best solution to help you catch up to credit card and personal loan balances is a bill consolidation loan. If you have ever faced financial troubles which have affected you credit history, a bill consolidation may be your answer. At Citizens Savings & Loan, we know that bad credit shouldn’t prevent you from reaching the goals you have set out for you and your family. We want to be a solution to those that are facing financial hardship, so that a successful financial future can be realized.

Why Consolidation
Staying on top of all of our incoming bills takes a level of discipline. We understand that life can be difficult at times, and falling behind on your bills can snowball and lead to less than perfect credit. A bill consolidation loan can help repair bad credit. A bill consolidation loan will allow you to combine all of your bills and monthly payments into a single, convenient loan. This consolidated loan can also be a loan with a single lower monthly payment. This is a great way to help you pay off high interest credit cards. If your credit is bad or "less than perfect", we can help with a bill consolidation loan.

Reduce the Burden
Our credit score doesn't always tell the whole financial story of our lives. If your credit history has bumps along the way, it should prevent you from reaching your full financial potential in life. Since 1917, Citizens Savings & Loan has been helping customers looking for financial help and security. Bill consolidation loans are a great solution for those looking for an immediate answer to their financial responsibilities and to help with future financial goals.

If you are ready to get started, we invite you to apply online today and let Citizens help you. We look forward to talking to you soon.

Posted: April 30th, 2012 | Permalink

The truth about 7 common credit report myths

See the following from Yahoo Finance.

http://finance.yahoo.com/news/truth-7-common-credit-report-120000855.html

Posted: April 30th, 2012 | Permalink

How to Establish Credit

When you credit is less than perfect, you can find it very difficult and frustrating when looking to make certain purchases. The same can be said when you don’t have any credit history. At Citizens Savings & Loan, we have helped many not only re-establish credit, but we can also help establish credit history. For over 90 years, we have helped people reach their financial goals by offering a solution to their credit dilemmas.

Personal Loans
Taking out a personal loan is helpful when you need cash fast, and it also helps establish a credit history. We provide quick service to our customers looking for a personal loan. We often have personal loans ready the same day you phone one of our locations with your request. This quick turnaround gives you an opportunity to start building your credit history in a timely manner.

Automobile or Truck Loans
Before you talk to a dealer, talk to us first about an automobile or truck loan. Knowing how much money you can borrow in advance will help you negotiate a better price with the dealer, and it sets you off on a path of establishing a credit history. Below are some reasons why you should talk to us first:

Competitive rates and payments.
Immediate on-the-spot appraisal and loan approval available at each branch location.
Older cars and trucks accepted as collateral.
Quick, dependable service. Call ahead for even faster service.
No cost or obligation in talking to us first. Our people want to help you obtain a loan.
Local servicing of your loan. No out-of-town companies, strangers, or long distance calls.

If you would like to learn more about how to establish credit, contact us today or simply stop in and see us at one of our convenient locations.

Helpful Resources

Posted: April 26th, 2011 | Permalink

Why is my Credit Score Important?

Your credit score can be a blessing or a burden. Fortunately, at Citizens' its neither since we don't have a minimum credit score requirement like other lenders. A credit score is a three digit number between 300 and 850. 850 is the best possible credit score you can obtain. By having a good credit score, you can enjoy lower interest rates whenever you decide to borrow money. From home loans to automobile loans, borrowing money can not only be an easier process if you have a quality credit score, but can create lower payments for you over the life of the loan.

Where your credit score comes into play
It is nearly impossible to go through life without the need of a loan. When you look to purchase a home, buy a new car or even apply for a credit card, your credit score is taken into consideration from the lender. Your credit score is a reflection on how likely you are to pay back the loan on time. Below are just a few instances in which you may need to borrow money.

Credit cards
Most people have a credit card. They allow you to make purchases while putting off payment at a later date. This helps people budget their money and consolidates all expenditures. When applying for a credit card, your interest rate is typically a direct reflection of your credit score. Credit cards often carry a high interest rate (29% - 79% is not uncommon) for those that have less than perfect credit, with fees up to 25% of the credit limit. On the other hand, the higher your credit score, the lower your interest rates.

Home loans
A mortgage lender will typically provide very good interest rates for those with a credit score of 720 or higher. Being a high risk borrower, or having a below average credit score, can lead to high interest rates and, unfortunately, not being able to borrow as much as you initially intended.

Renting
Often overlooked, many landlords will check a potential renter’s credit score before deciding to rent an apartment. This is done with the renter’s consent. Those with bad credit can also be required to a pay a deposit to utility companies.

About Citizens Savings & Loan
At Citizens, we help people achieve their financial dreams. Many times it starts with establishing or re-establishing their credit score. Our loan products range from bill consolidation loans to personal loans, all of which can help repair credit scores. If you are interested in our loan products, or would like to learn more about how you can improve your credit score, contact us today.

Posted: January 19th, 2011 | Permalink

What is a Good Credit Score?

Obtaining a loan isn’t a sure thing even if you have a good credit score. Your income, employment history and level of debt are also considerations lenders look at when it comes to providing a loan to borrowers. At Citizens, you are more than just a score. We have no minimum credit score requirements.

Credit scores range on a scale of 300 to 850. The higher your credit score the better. Simply put, this score gives an indication of how likely you are to repay your bills. It also gives creditors insight into the amount of risk you carry in defaulting on loan payments.

Credit Score Factors

Below are items that are factored together to come up with a credit score:

Payment history
Amounts owed
Length of credit history
New credit accounts
Types of credits used

A good credit score use to be 680 or higher. Until recently however, that magic number has climbed to 720. Lenders are now looking for at least a 720 credit score in order to give borrowers the best terms on the loan being applied for.

Citizens provides a way to establish or re-establish good credit. We are one of the oldest consumer finance companies in Tennessee and have provided a number of solutions for those interested in improving their credit score. If you would like to learn more about Citizens as a leading consumer finance company, please contact us today.

Posted: October 26th, 2010 | Permalink

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