13-09-2017, 12:12 PM
Supermarket loans are unsecured loans, which as bank loans depend solely on your promise to repay your loan instead of asking for any additional security like a car or guarantor. Supermarkets will establish your reliability to repay the loan primarily based on your credit score and if you are able to pay the repayments. They only lend to customers who have a flawless credit history, so if you have fair credit or bad credit, forget about getting a grocery loan and check out our bad credit loan comparison chart.
DO NOT apply for a supermarket loan if you do not meet all your minimum acceptance criteria, as it will almost certainly be rejected. Generally speaking, making multiple requests and systematically getting rejected will damage your credit file, which makes it increasingly difficult to get accepted for the best rates when applied in the future. If you know you have bad credit, then instead of applying for a grocery loan, check out our comparison chart for bad credit loans.