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Banks may also have more stringent eligibility requirements than other types of lenders, which could make it harder for some borrowers to qualify for a loan. Installment loans can also help borrowers to build or improve their credit score.
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Credit card issuers typically have less stringent eligibility requirements than payday lenders, and the bad borrower's credit score is not typically a factor in their approval. Work with a credit counselor: If you're having trouble managing your credit, you might consider working with a credit counselor.
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