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Bad Credit Unsecured Personal Loans – Will Citi Lend Me Money?

Posted on | November 19, 2009 | No Comments

Citi Financial is more willing to help you get a personal loan. Getting a bad credit unsecured personal loan is something many borrowers are looking to do today and they’re trying to find lenders who offer this opportunity. Your credit score will greatly determine if Citi can help but overall they do offer this service.

Citi offers personal loans between $300 and $7500. Any loan over $5000 may require collateral. The term dates for these loans can be anywhere between 12 to 16 months. Most of the time Citi will allow you to get a fixed interest rate on the entire loan term.

There’s little doubt that Citi has greatly struggled through the credit crisis. I have all the major banks their stock prices dropped the most. The exposure to subprime mortgages and many bad loans has caused this company to change their lending practices.

Do not be surprised if it is a very difficult process to get a personal loan from Citi.  The new lending practices are making it much harder for bad credit borrowers to borrow money at a low interest rate. If you do borrow money please understand that your interest rate will be greatly reflective of your financial history.

If you’ve been smart with money in the past and your credit scores respectable than you are going to find it easy to qualify for a loan and it is likely that you will have a decent interest rate. If the opposite is true you can expect to have a very high interest rate loan and difficulty applying for it.

If the current economy and your financial struggles have gotten you down make sure to check out the inspirational blog My Life After Retail.  The blog is an account of the journey to find peace of mind and happiness in today’s society.

Author: Heather Best

Category: Bad Credit Unsecured Personal Loans

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