Ever encountered or thought of a situation where you have a very bad credit score and you need to improve it that too on short-term notice, is it achievable and possible? Before answering this, having a bad credit score is not a taboo and is often experienced by every loanee once in this entire credit journey, and everyone should know how it could be improved, it’s so important, and knowing where you could get trapped gives you an upper hand over a situation, making you a smart loanee. Keeping learning and thinking about the possible traps you could face being a loanee, now regarding the question yes it is very much possible. In this article, we’ll see how this could be achieved, but with a twist here, we would be talking up the situation with the payday loans.

Payday Loans

Talking about the magical and urgent loans for bad credit scores, that have a scheduled repayment date on the day you received a payment cheque, the amount gets deducted without disturbing your routine, are payday loans. Yes, these loans exist! And are known as payday loans as the name signifies- EMI repayment is on payday. Payday loans are the short- term loans with specified amounts and a period of repayment is generally less than or equal to one year. Studies show that these types of loans are often used by loanees to address their technological demands for luxury products, with a minimal fraction using them to address their emergency situations. But here we will be talking about how one can improve the credit score with payday loans. If you possess a bad credit score, chances are the loan repayment amount must be large, now in such scenarios aka the improving credit score with the payday loan, you often group two or more loans together.

Since the amount issued in a payday loan is limited, your loan amount cannot be repaid wholly, one thing you could do is ask for the possibility of two payday loans to be approved by your bank services, if it is approved apply for two payday loans, the main feature why payday loans are the best for such scenarios is they divide up the whole EMI’s into the payable short EMI’s, and which are directly deducted from your account, so there is no chance of them not being fulfilled and your credit score splurges since the creditors know for the fact that these loans are only accessible when you have a solid proof of your income. This allows you to be the creditor’s first choice. The reason why paydays are the backbone of urgent loans for bad credit.


Secondly one could merge the paydays with those of the personal loan or same-day loans, viable option here would be the same day loans, as their duration often matches up with the payday ones. The only difference between these two is the amount slot, same day loan provides one with a bigger slot as compared to a payday, hence could easily cover the loan amount. Since the amount in both scenarios is to be paid within a year, your creditworthiness will also improve, and studies have shown that one year’s time is the minimum time required for the improvement of the credit score.