Just got rejected for a loan application? Did you apply for a loan from banks or licensed moneylenders in Singapore but was declined?

We understand what you are feeling. There may be frustration, confusion, anger or panic when your loan application is declined. This is especially so if you urgently need money to get through financial difficulties, medical emergencies or to survive till the next payday.

Whether a costly emergency suddenly pops or your paycheck is not enough to take you through the month, there are times when you might need a loan for extra funds. Fortunately, there are various options for bad credit loans. However, borrowing money can be a financial risk, which is why it is advisable to be strategic if you have bad credit and need to get a loan.

One of the options that are available for loans for individuals with bad credit is online lenders. U Credit, one of the most trusted licensed moneylenders in Singapore offers our own bad credit loan. Worry not if you have bad credit because this bad credit loan can help you. It enables you to borrow a fixed sum of money and pay off the debt over a period of time and repayments. With U Credit’s loan package, more options are available for borrowers with bad credit.

If you urgently need money to pay your credit card bills, electricity bills, or any financial crisis, this is your chance to set things right.


Here’s Your Opportunity To Begin Again


If you have a bad credit score and just got rejected from banks, do not worry. It is never too late to start again.

Perhaps there were days where you were poor at managing your finances. Perhaps there was a time where you could not make your credit card payments on time or a time when you were retrenched and your income was lost. Or maybe, you had a medical emergency where you needed money and had trouble repaying. All these contribute to having a bad credit score.

However, you do not need to worry. A bad credit score is not permanent. Credit scores can be improved. Demonstrating to lenders that you can effectively cover your loan is one of the ways to increase your credit score. Getting a loan and ensuring that the payments are made regularly can help to set up the foundation of financial success. This may sound contradictory but it is a way to prove to lenders that you are able to better manage your finances now.

Bad credit loans are for individuals who do not have a good credit history aim to make it easier for these types of people to rebuild their credit and secure their financial future. Moneylenders accomplish this by providing borrowers with the funding they need. These loans are readily provided by licensed moneylenders in Singapore such as U Credit.

If you really need a loan but you have bad credit, it is possible to get one. The key is to identify the most suitable option that can work for your circumstances while staying away from precarious financial products. After paying off the loan, it is important to create a practical budget and make an effort to set up a fund for emergencies. An emergency fund that can last you for 3 to 6 months, cover all of your expenses and is recommended by most financial analysts and advisors.


Benefits Of Getting U Credit’s Bad Credit Loan 

Getting a bad credit loan helps you get out of tricky financial situations and brings along several benefits as well.


Debt Consolidation

In Singapore, credit cards are known to have extremely high interest rates. Interest rates for credit cards are at an average high of 25% and when one is not careful, their debt can easily snowball. One of the benefits of borrowing money when you want to rebuild your credit is that you can consolidate your debts. This may sound paradoxical but it works to help borrowers pay off their debts and build up their credit score.

Consolidation involves paying off multiple small amounts and be indebted to one lender. This can help to lower the average rate of interest across various institutions that you may be dealing with. Additionally, it is easier to handle one deadline for payments rather than keeping up with different lenders and dates every month.

Access To Cash

When you have costly monthly payments on outstanding debt, you may become susceptible to lack of cash flow that limits the amount of money that is available for daily life. This includes funds you might need for basic expenses such as fuel and food.

Your disposable income may also diminish and worsen your financial situation. A bad credit loan gives you access to the cash you require in order for you to be able to improve your quality of life while making significant progress towards better spending habits. With access to cash from our bad credit loan, you will not need to trouble your friends or family members regarding monetary issues.

Unsecured Loans, No Collateral Needed 

Believe it or not, you do not need to provide any collateral to get a loan with us. U Credit’s bad credit loan is unsecured where we do not take in any collateral from our customers. You do not have to worry about us taking away your assets such as your house or car.

All you need to do is to apply for a loan through our easy-to-use online application link and our loan officers will contact you for more details. Rest assured that we do not hard sell our loan packages. No matter what happens, we are here to lend our customers a hand.

Online Loan Application 

Time is precious and we are well aware of that. To save the precious time of our customers, U Credit has worked with different UI/UX developers and designed an online loan application form that is easy to use.

With our online loan application form, you do not have to waste time filling in papers with your personal particulars for your loan. Applying for a loan becomes so much easier! You can apply from the comfort of your home, on the bus, on the MRT or even during working hours.

Online Chatbot 

U Credit never falls behind on technology and updates. Aiming to enhance our loan application system and to help our customers more, we have added in an online chatbot onto our website. This allows customers to speak to us directly about their questions. Simply type in the questions and we can get back to you within minutes. With a shorter waiting time, you can get your loan doubts cleared quickly.

Feel free to ask us anything and our experienced loan officers will do our best to reply. If you prefer speaking to our officers, you can reach us at +65 6337 1768 as well.

Fast Replies

With our experienced team of financial consultants, we are able to get back to your loan application within 24 hours.

Compared to other lenders, we will not keep you waiting. Our team will reply to your loan application as quickly as possible.


U Credit stands firm in keeping our loan process transparent to our clients. We respect all of our customers greatly and are transparent in our loan process. If you have any question or doubts, feel free to approach us. Being honest with our customers is one of our most important value.

Trust our process.

No Hard-Selling 

Perhaps you have met with banks, other licensed moneylenders or even insurance agents and experienced their pushiness. They often hard-sell their products and try really hard to get you to sign on a product with them. Hard-selling gets tiring and we understand that.

At U Credit, we respect our customers and do not hard-sell any of our loan product.


Securing Your Financial Future

Borrowers who struggle with bad credit generally want to be able to raise their credit scores.

When you begin making payments on a loan, you can expect your credit to start rising. This improves your credit history over time. Consequently, the prospects of getting good credit terms later will improve. Moneylenders want to give money to borrowers who have a favourable credit history since they pose a lower risk.

Ultimately, having bad credit displays a bad habit of irresponsible spending. This consists of aspects that range from failing to budget to impulse purchases. After getting a loan, you should become accountable for your finances.

Begin the process of getting a loan by researching your options and lenders. Comparing interest rates makes it possible for you to calculate how much the loan will cost. Application processes are usually fast and you will be on the right path as long as you make your monthly payments consistently.


Different Scenarios In Singapore That Might Need Bad Credit Loans 

1. Medical Bills

If you are experiencing a medical problem that requires urgent funding, a moneylender can help. A traditional institution such as a bank may not acknowledge how serious the situation is when you have bad credit. Alternative lenders are more accommodative under these circumstances and grant your request for a loan.

Medical bills are urgent and one should never delay medical care. Medical emergencies are unexpected. You never know when there might be an accident, an injury, a need for a health checkup or certain medicine needed.

You do not have to put off medical care or put your loved one’s health at risk because you are unable to pay a medical bill. Licensed moneylenders such as U Credit can ease your financial challenges by giving you the sum of money required to settle the bill.

U Credit is a legal moneylender that has been operating in Singapore for many years. We have a large paid-up capital that can readily help you out of any financial situation.

2. Home Foreclosure

If your home is foreclosed and you credit score is compromised by failing to repay your mortgage, your reputation among lenders would be questionable. This can make it extremely difficult to qualify for a loan when you need cash urgently.

The good news is that lenders are aware that emergencies arise and these affect everyone, including people who have bad credit. If you cannot access a loan from a bank, consider finding a lending service that can help you.

3. Rent And Utilities

Your salary may be delayed due to various reasons. If this occurs when your bills are due, the situation can be very stressful. Some landlords are not willing to discuss your circumstances no matter how genuine your excuses are. With a bad credit loan you do not have to miss your bills or get evicted. 

4. Education Loan Repayment 

We all know how important education is in Singapore. Education is greatly emphasized and any parent wants to be able to make sure that their child goes to the best school. They want their children to receive the best education. For some parents, they even hire tuition teachers to give their children a headstart.

If you were unable to pay back a loan for tuition on time and your credit score is brought down, getting a loan from the bank will be a fantasy. Alternatively, licensed moneylenders like U Credit can help you keep your projects on track with bad credit.

5. Urgent Purchases

If you need to make a purchase urgently but lack the requirements to qualify for a bank loan, you can consider applying for a bad credit loan.

If you need to an item or appliance that aids your functionality from day to day, getting a loan can help you ensure that you get what you need when you need it without using a credit card.

An example would be when your refrigerator breaks down. You can get a bad credit loan to purchase a refrigerator for your home. Your electrical applicant might breakdown suddenly and a decent refrigerator in Singapore costs at least $1,500. When you have a bad credit score and you need to make an urgent purchase, U Credit might just be your best bet.


Tips To Maintain A Good Credit Score


After getting credit such as a credit card or personal loan, it is important to maintain control of it to accomplish your goals without ending up in deep debt.

  • Monitoring Your Spending – Keep track of how you spend money, including ATM cards and all your credit and debit transactions. Go through monthly statements and reports promptly.
  • Credit Limit – Be careful about keeping your spending lower than the credit that is actually available. Do not exceed the limit or allow your debit to excessively higher than your overall annual income.
  • Emergency Funds – It is always a good idea to set aside some money for emergencies. If you have a high unexpected expense or lose your job, you will not have to borrow more money than what you can repay comfortably. It is best to have at least emergency funds that can last you for 3 to 6 months.
  • Credit Card And Loan Payments – You should always strive to make the minimum monthly payment every month on time. When you go above the minimum or pay the full balance every month, you lower the charges. Avoid skipping any payments.
  • Make Punctual Payments – One of the best ways to develop your reputation as a good risk to lenders in the future is by making timely payments.
  • Organise Your Finances – Organise your bills in a place where you cannot forget or lose them. Maintain a list of the bills that are due.
  • Take Note Of Due Dates – Pay keen attention to the due dates.
  • Consider GIRO Payments – An automatic payment system is convenient and useful for ensuring that you make your payments regularly.
  • Update Your Financial Consultants – If you fall behind on payments, you should reach out to your lenders promptly. Many creditors can set up other payment options if you let them know about your situation immediately.

It is never too late. Perhaps things have been tough over the past few years and you have made a couple of poor financial decisions. These choices take a toll and you might have accumulated a bad credit score. If you require money urgently, U Credit is here to help you. With our strong financial capital and experienced financial consultants, we can lend you a hand.