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Some of us have an excellent credit rating, while others don't, and it is largely due mistakes we made in the past, while repaying bills or loans etc. There are loans that one could avail with a fair credit rating, and this is especially carved out for those of us who do not necessarily have a bad credit, but instead a fair credit rating. It is not impossible for someone with a fair credit rating to avail a loan in the US. There are affordable lenders who are more than willing to extend credit and one will have to get the quotes from these lenders, make comparisons and then take a call.

Fair credit rating is when someone has a score of around 640 to 680, and anything below 640 is not good and lenders might never offer a loan at all. Sometimes, a person might have a couple of delayed payments or so, which could have brought their rating down. It is better to have a in-depth discussion with the lender about the unavoidable circumstances and the reasons why the credit rating had gone down. Most lenders can be convinced if the reasons are genuine.

Loans can easily be availed through secured or unsecured loan options. For a secured loan one will have to furnish a collateral security such as property or any other personal assets. However, for an unsecured loan there is no necessity for any collateral. For smaller amounts one can avail the secured loans whereas, one will have to provide collateral to get bigger loans. One can avail secured loans at a lower rate of interest to pay off bigger debts such as a wedding or home renovations etc.

Generally people with fair credit have to do a bit of negotiating with their banks or card companies and will have to put in some extra effort to avail a loan at affordable rates. Negotiating is the key to getting some surprisingly low rates with the creditors. Most financial institutions are convinced when a person has the capacity to negotiate. Another positive move would be to offer a higher down payment to avail better interest rates. By taking some of these simple measures one can easily end up saving huge sums of money. Apart from this one will have to work diligently on improving the scores from fair to good.