Before applying, consider these steps to strengthen your financial standing:
• Repay Existing Debts: Prioritize clearing overdue balances on loans or credit cards.
• Reduce Debt-to-Income Ratio: Limit credit card usage and avoid high-interest liabilities.
• Restart with Small Loans: Secured or low-limit unsecured loans (paid punctually) can gradually rebuild trust.
Final Tips
While bad credit limits options, Hong Kong’s financial ecosystem provides viable pathways. Prioritize lenders with clear terms, avoid predatory rates, and commit to consistent repayments. Use comparison tools like MoneyHero to find tailored solutions. Remember: Rebuilding credit is a marathon, not a sprint—plan wisely, and your financial health will gradually recover.
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