Loans for Bad Credit Score in Hong Kong
Bad credit loans are products designed especially for people with a poor credit report. These loans come with higher interest rates and greater restrictions to mitigate the risk of you not paying back your loans. Check out the available loans below.
Loans without Credit Check/for people with bad credit in HK
PrimeCredit Fixed Loan
- The Lowest APR
- 1.18%
- Total Amount Payable
- HK$202,400
- Total Interest Payable
- HK$2,400
- Monthly Payment
- HK$8,433
【Final Call! 🔝🏝️MoneySmart August hot summer exclusive offer】 From now until 20 August, successfully apply for PrimeCredit Fixed Loan / PrimeCredit Balance Transfer Loan / PrimeCredit Civil Servant & Professional Loan via MoneySmart, you can earn extra HK$500 vouchers (given out as 5,000 SmartPoints) regardless of approval! T&Cs apply.
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【MoneySmart Exclusive Offer】Up to HK$12,000 Cash Bonus + exclusive up to HK$7,500 Apple Store Gift Card for successful application via MoneySmart! Get up to a total of HK$19,500 reward!
Promise Easy Loan
- APR*
- 1.12%
- Total Amount Payable
- HK$202,400
- Total Interest Payable
- HK$2,400
- Monthly Payment
- HK$8,433
Promise No-doc Loan
- APR*
- 4.49%
- Total Amount Payable
- HK$209,600
- Total Interest Payable
- HK$9,600
- Monthly Payment
- HK$8,733
WeLend Personal Loan
- The lowest APR
- 1.88%
- Total Amount Payable
- HK$205,760
- Total Interest Payable
- HK$5,760
- Monthly Payment
- HK$8,573
【🔝Limited-time Offer in August】Total rewards up to HK$21,500!
From now until 31 August 2024, selected customers can receive up to HK$21,500 Rewards upon successful draw down!
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【MoneySmart Exclusive】Rewards up to HK$2,500🎉
From now until 31 August, apply for WeLend Personal Loan via MoneySmart, you can earn an extra 1️⃣ 5,000 SmartPoints *(can redeem value of HK$500 vouchers or products)*regardless of Approval! Successfully apply and drawdown the designated amount of Loan, can even earn extra 2️⃣ 20,000 SmartPoints (can redeem value of HK$2,000 vouchers or products)! Click here to explore limitless possibilities (T&C applied)!
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【Want more? －WeLend Limited-time Offer! Regardless of Approval】
From 24 June to 31 August (both dates inclusive), new customers who have applied for the designated Personal Loan through designated online channels with a net applied loan amount of HK$100,000 or above, have completed the entire application process (including checking of credit report) and have submitted all required documents and information during the Promotion Period, regardless of approval result, shall be eligible to receive a HK$1,000 travel voucher (“Gift”).
Why does Credit Score Matter?
Credit score should be on your radar when it comes to applying for personal loans. This information is useful for lenders to evaluate their risks when lending money to you. They will also use this information to determine the loan amount, tenor and interest rate.
How to Improve My Credit Score?
- Settle your bills on time
- Check your credit report on a regular basis and amend questionable data timely
- Avoid excessive credit card applications
Check out more about improving your credit score on this Complete Credit Score Guide.
FAQ
What impacts my credit score?
- It will be affected by your payment records, total credit/loan balance, the length of the credit history and your credit accounts.
What is a credit report?
- A credit report is a financial dossier that details your credit activities. It will help banks or finance institutions to evaluate the credit risk of a customer.
Who can access my credit report?
- When you apply for loans, credit providers may request to access your credit report.
What should I do if the information in my credit report is questionable?
- You can request for data correction with TransUnion. It usually takes around 40 days to complete the investigation.
For how long is a credit score valid?
- Generally, it is valid for 5 years. The credit score will be adjusted based on the growth of your credit history and changes in your payment record.
