Maintaining a good credit score has become one of the most essential aspects of our lives. A good credit rating would mean financial security for the future. Lenders would be happy to lend you significant amount of money each time you apply if you have a good credit history. You can also apply for any kind of conventional or even an unconventional loan as long as your credit rating is high enough. However, one of the strangest aspects of maintaining a good credit score is that the number of times a lender requests for your credit history actually affects your score in a negative manner.

Usually good credit would depend upon how you have handled your past loans. If you have maintained an immaculate repayment habit, not missing out on any monthly payments or not falling behind at all in a loan, you would have a high credit score. At the same time, not being responsible with your loans and missing out on payments frequently would lead to a dip in your overall score. While most people understand that how you handle your credit in the past is what enables you to borrow in the future, there are quite a few other minor aspects as well which do end up giving you a poor credit score.

The most bizarre of them all is the way requesting for your credit score affects your rating. To understand this better, let us look at an example. You are in need of some money and you apply for a short-term loan with various bankers and other financial lenders near your area. The reason you are looking at multiple lenders is to check who gives you the best rate. You feel your score is decent enough to be approved for most conventional loans and get a low interest rate as well. However, by applying to multiple lenders, you just caused your credit score to fall slightly. This is because moment you apply for a loan with a conventional lender, the first thing they would do is request for your score from the credit bureaus. These credit bureaus would notice there was a request for your score from multiple sources in a short span of time and immediately lower your score. This is quite an odd thing to do as it is not your fault that the lenders requested for your score. Your score just went down even though you have been quite responsible with your past loans.

So what do you do when you are in need of some cash urgently but do not want to affect your credit score? The easiest thing to do is apply for a loan which does not need to check your past credit history. Loans like payday loans look at your current income or the fact that you have a job before approving you for the loan amount. They do not look back at your credit score thus not affecting it at all. Hence for quick short-term loans, options such as payday loans makes the most sense if you do not want to affect your credit score negatively.