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Personal loans 'ideal for boosting credit scores'
Consumers who are keen to improve their credit score could benefit from taking out a personal loan, it has been suggested.
According to the Warwick Beacon, people who have managed to pay off debts through products such as debt consolidation loans should always be keen to improve their status in the eyes of financial services firms.
The publication went on to outline several ways in which a personal loan could provide a timely boost.
"Your credibility increases as your credit rating goes up, translating to more opportunities for you along the way," it outlined.
"Once your score is back on top, it should be easier to acquire assistance in financing a home, a new car or paying for either yours or a family member's college education."
Recent figures from Confused.com suggested that over 70 per cent of people are confused about financial issues, with pensions found to be a particularly difficult concept to understand.