Payday Loans
High interest rate
An example of a bad credit loan can be shown by the following snap shot. A best buy loan which is given to a customer with a good credit score for an amount of £ 7,500 loan is somewhere around 7.8 per cent. This means that the customer will have to pay approximately £ 1,580 in interest for a period of five years. In the case of a person who has a bad credit history. He will have to pay an interest rate of 15 per cent to 30 per cent. It depends how bad the credit state a customer has. This means that the customer will have to pay roughly from £3,250 to around £ 7000. Payday loans charges higher fees that bad credit loans.
High interest rate
An example of a bad credit loan can be shown by the following snap shot. A best buy loan which is given to a customer with a good credit score for an amount of £ 7,500 loan is somewhere around 7.8 per cent. This means that the customer will have to pay approximately £ 1,580 in interest for a period of five years. In the case of a person who has a bad credit history. He will have to pay an interest rate of 15 per cent to 30 per cent. It depends how bad the credit state a customer has. This means that the customer will have to pay roughly from £3,250 to around £ 7000. Payday loans charges higher fees that bad credit loans.