A bad credit score is something that you definitely have to take care of. However, it should not stand in your way of taking an occasional break from your busy schedule, and going on a vacation. A lot of people think that they do not deserve a reward like a big and nice vacation just because they have a bad credit score, something that they brought upon themselves. Also, instead of wasting money on a vacation, they could use that money to build up their credit score. Taking a short-term loan for a vacation while a bad credit score is a big no for a lot of people. However, vacations can be very beneficial. Taking a vacation even while you have a bad credit score can be justified for a number of reasons.
Benefits of taking a vacation
- Stress will affect your health negatively. If your health is affected, it will affect your work. Taking a vacation will help you to relieve stress. By keeping yourself healthy, both mentally and physically, you will be able to work normally, and more, and thus earn more money and build up your credit score.
- When you relax your mind by taking a vacation, you will be able to think with clarity, and much more creatively. You would be able to to find our principal and creative ways to take care of your credit problems, and thus aim for a good credit score. For instance, besides your regular job, you mat take up an additional job for some extra cash.
- A bad credit score can be frustrating at times, especially when you need some quick money, and your bank tells you that they cannot provide you with a loan since they consider you as a high-risk customer. By thinking about it all the time, you will only get more and more frustrated. You will be able to refresh yourself by taking a vacation. You would be able to tackle your credit problems head-on.
- A vacation with your family will help to strengthen relationships. Financial stress can really put you in bad moods while at home, and may times you will end up taking your anger out on your family. A vacation is a perfect way to show your family that you care, and thus take care of the important people in your life.
Vacation loans
There are a number of ways to get short term loan, even with bad credit score, to cover your vacation expenses.
- You can opt for a payday loan from a reputable lending company, such as Cashco Financial in Canada. You can borrow up to $1500, and pay it back when you next get your salary. All you need is an ID, source of income, and a chequing account. You can borrow online as well. Here, your credit score does not come into the picture.
- If you are looking for a long term loan, you can opt for the Flex Loan from Cashco Financial. You can take up to $5000, and you can have up to 3 years to repay.
- If you are a member of a credit union, you can apply for a short-term loan from this non-profit organization. Here also, your credit score does not really come into the picture. All the members of a particular union will have something in common, like living in the same geographic area or working in the same industry. So, it is usually easy to get a loan.
- You may take a loan from your family or friends as well. As long you treat it as a business transaction, and document it legally, they would not have any qualms in lending you the money. You may also ask a person who knows you well, and who has a good credit score, to co-sign a loan with you. However, you have to make sure that you do not deafult on any monthly payments, and that you close the loan on time. Otherwise, the lenders will ask your co-signor to repay the loan amount.
A bad credit score is something you can repair over time. However, in order to do that, you need your health and the support of your family. Taking a vacation would ensure good health, and would keep your family close.
