Obtaining Credit In A Bad Economy

AAA

Businesses and markets go in cycles. In tough economic times, people lose their jobs, spending decreases and businesses start slowing down. All of a sudden, banks find it a little more risky to lend, and those who want a loan find it harder to get approved. Fortunately, banks don't stop lending altogether, and there are some steps potential borrowers can take to increase the chances of getting a loan. There is one disclaimer: most of the banks' interests are aligned with yours. If a bank think it's too risky to provide you with a loan, then it is probably not a good idea for you to get one. With that out of the way let's get into it.

You May Also Like

Related Articles
  1. Credit & Loans

    What are the most common reasons credit limit increase requests are declined?

  2. Credit & Loans

    Meet The Company Behind Your FICO Score

  3. Stock Analysis

    How MasterCard Likely Earned a Spot in Your Wallet

  4. Trading Strategies

    Rules and Strategies For Profitable Short Selling

  5. Charts & Patterns

    Why These Are 2015's 10-Best Financial Stocks

  6. Stock Analysis

    5 Reasons Sirius XM Haters Are Gone

  7. Budgeting

    Quickbooks vs. Quicken

Trading Center