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Bad credit is a phrase that gets tossed around, no matter what industry you work or are involved in. Have you heard it? Particularly when it comes to buying the big-ticket items, such as cars and houses, bad credit is not something you want next to your name.

In this blog post, we will take a detailed look at the ins and outs of having bad credit—what it means, and what it means to you—as well as assessing whether bad credit is a factor in getting a fast cash loan.

Continue reading to learn more.

If you are struggling financially, remember, Cigno may be able to help. Visit our website to see how our loan application process works.

Do bad credit loans exist?

In short, yes, they do. When people talk about bad credit loans, it may conjure feelings of anxiety. You may think you will never be able to borrow money from anyone and achieve those homebuyer dreams. Don’t fret. Bad credit loans do exist, and at Cigno, they exist for everyone because we believe in second chances.

Learn other ways to improve your credit rating here.

How do you get bad credit?

Firstly, let’s look at how you receive bad credit or a low credit score. The problem is, we receive bad credit for things we perhaps don’t believe can be too affecting at the time. For example, a missed credit card payment or any late utilities or phone bills.

These things are very easy to forget about. “Oh, I’ll pay it later.” Sound familiar? It is important to try and pay these bills on time to avoid a big X against your name when it comes to borrowing. Sometimes it can be difficult to do this with our busy schedules. If there is one takeaway from this blog post, it is that any missed actions on your credit file can remain on there for up to 5 years. That’s a long time!

How can bad credit affect me?

In many ways, bad credit can be the difference between getting things including a mortgage, a new car or phone plan. These are all necessities today. Well, the mortgage is optional. But most of the population would drive a car to work and more than most, you would assume, have some kind of smartphone technology. They don’t hand out brand new iPhones without prior and appropriate credit checks first.

How can I improve my credit history?

First thing’s first. If approved for finance, ensure that you make the repayments on time. This goes a long way in improving credit history. One such method for improving bad credit is, believe it or not, small loans. Cigno helps Australians far and wide by providing financial assistance.

Yes you pay interest on the quick cash loan, but your credit card repayments will be made on time. When you are in need of a payday loan to tide you over until your wages come through, get in contact with Cigno. Let us help you out of your financial predicament, while continuing to build your credit rating. What will the end result be, you ask? Your ability to borrow in the future will increase significantly.

Cigno is committed to helping you achieve financial freedom. As far as we are concerned, your personal details are personal and your credit history is history.

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Learn more: Five Ways to Improve Your Credit Rating

Responsible borrowing

Although Cigno is providing a lending service, we encourage to only borrow when you really need them. If you are in a financial bind, please get in contact with us. The other thing to remember is that you should only apply for a bad credit loan when you are 100% confident you will be approved.

Always give the terms and conditions a thorough look, as you should be aware of the commitment you are making and the associated repayments.

Even though responsible borrowing is a short-term solution, you should work towards minimising your debt and your need to seek financial assistance. Create a budget and set obtainable financial goals.


Read more about bad credit loans on our website. Or if you would prefer to speak with one of our friendly staff members, please don’t hesitate to contact us.

You can learn more about bad credit loans in our previous blog post: Bad Credit Loans: It’s Still Possible to Get a Loan Even if You Have Bad Credit