These days the credit market is tight – the world’s banks are reeling from the financial disaster of the sub prime housing crash. Lenders are no longer willing to give out money unless they are certain that they will be repaid. Credit history is now more important than ever. If you happen to be on the bad credit score scale, it can seem impossible to get a loan, get a credit card, even get a cell phone. But it is not impossible – if you know what to do.

Now, keep in mind that you will always be reduced to second class loan options with poor credit. There is not too much you can do about this, other than fixing up your credit history. However, it is certainly possible to get a loan with terrible credit if you are willing to pay the price.

So what bad credit loans options do you exactly have?

Payday Loans

These are no credit check loans. Payday loans are probably the easiest loans to qualify for – your credit does not affect your ability to get one of these loans. However, expect to pay quite a bit of money for an upfront fee to get the loan and if you miss your interest payments the interest rates will be some of the highest in the business.

Bad Credit Loans

You can find a lot of these types of loans offered online. These type of loans are actually quite popular because there are literally everywhere. Lenders that offer bad credit loans charge very high interest rates – so make sure you do the research before seeking on out.

Credit Card Loans

If you have an unsecured credit card, you can take out a cash loan. However, these come with high interest so you should not thing credit card loans as a long term loan.

Besides the loans mentioned above, you can also contact your bank and see if you can work out a conventional loan deal. With a solid record of employment and good income, it may just be possible to get a bank loan – you won’t know until you try.