Before a lender can decide whether or not you are qualified to get the loan amount you want to borrow, the lender must see your credit report or credit history. Lenders will mostly favor those with good credit ratings because it convinces them that a borrower is a good risk of repaying what has been borrowed. A poor credit history gives a bad impression and may make a lender deny a borrower the loan amount. If you have bad credit, this does not mean that it is the end for you. There are still many ways of getting a loan such as applying for pay day loans even if you have bad credit.