When they need money, many people turn to lenders, pawn shops and other businesses, instead of looking for an option in the financial system. That is why they are often scammed, because they end up accepting unreliable options and methods to get the money they need. All this happens because they have the impression that they will not be approved for the loan they are requesting, because they have not properly managed their money.

If that is your case, the situation does not have to be the same for much longer

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If you start making changes today, you can request credits and be assured that there is no reason for them to be denied. Here are three points to consider and that are making it more difficult to approve a loan:

1. Have more than one credit at the same time 

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If you have a pending debt for a vehicle credit, the credit card in red and also, you apply for a loan, you are much more likely not to pay on time, so the financial institution will not want to take risks. The solution: Plan your purchases, so that there are “rest” periods between one loan and another. Also, use more savings and less money borrowed.

2. Use more than 50% of your credit line 

2. Use more than 50% of your credit line 

By using the card for such high amounts every month, you are demonstrating that you do not have a good estimate of your expenses or management of your income. Remember that in the end it is money that you will have to pay back with interest. Ideally, do not exceed 30% of the use of the credit line.

3. Say ‘no’ to all credits 

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Staying away from 100% of the loans only means that, when one is encouraged to apply for one, the financial institutions see that they do not have much time in the financial system and, therefore, there is greater distrust.

If these aspects are not reflected in your financial life, you are more likely to be granted a loan; However, not everything that glitters is gold, so before accepting any offer, it is better that you know all the alternatives, so you can check which one is really right for you.

If you want to compare interest rates, terms and benefits, use the personal loan comparator.