Will New Start Capital Hurt Your Credit? Here’s The Answer

New Start Capital is a financial services and advisory firm that works to help individuals with lower to moderate credit scores obtain loans, consolidate debts, and reduce creditor payments through lower interest rate solutions. But before you choose to work with them, will New Start Capital hurt your credit? In this article, we’ll take a closer look at how New Start Capital works, the potential impact on your credit, and what to consider before using its services.

How Does New Start Capital Work?

New Start Capital offers loans with lower interest rates to customers with lower to moderate credit scores. The company provides a range of financial solutions to its customers, including debt consolidation and creditor payment reductions. Unlike traditional loan providers, New Start Capital provides personalized financial advice that helps customers to make informed decisions about their finances.

Pros and Cons of Using New Start Capital

Before choosing to work with New Start Capital, it’s important to consider the potential benefits and drawbacks of its financial solutions.

Pros:

1. Personalized Assistance: New Start Capital provides personalized financial advice that helps customers to make informed decisions about their finances.
2. Focus on Lower Credit Scores: New Start Capital offers lending options to customers with lower to moderate credit scores.

Cons:

1. Higher Interest Rates: If you have a lower credit score, you may need to pay higher interest rates for loans that you obtain through New Start Capital.
2. Limited Availability: New Start Capital may not be available in all areas of the country, limiting its availability for some customers.

BBB Rating & Reviews

It is important to note that New Start Capital is not accredited by the BBB. However, this does not necessarily reflect negatively on the company. Some businesses choose not to become accredited due to the cost or because they do not agree with the BBB’s accreditation standards.

New Start Capital has received only two complaints through the BBB, which is relatively low for a financial services provider. This suggests that the company has been able to address any customer issues or concerns quickly and effectively. Additionally, the company has not received any customer reviews through the BBB, which can make it difficult to fully evaluate their services based on customer experiences.

While the lack of customer reviews on the BBB may be concerning to some, it is important to remember that not all customers choose to leave reviews or complaints through official channels such as the BBB. It is recommended to seek out reviews and feedback from other sources as well, such as social media or other consumer review websites.

Will New Start Capital Hurt Your Credit?

When you apply for a loan, the lender will need to check your credit score to determine your eligibility. This process may involve a hard credit check, which can lower your credit score by a few points.

However, if you are approved for a loan and make regular payments on time, then your credit score may improve over time. In some cases, New Start Capital may offer a personalized payment plan, which can help to protect your credit score if unexpected events disrupt your ability to make your payments on time.

Final Thoughts

New Start Capital offers financial solutions that can help individuals with lower to moderate credit scores to obtain loans, consolidate debts, and reduce creditor payments through lower interest rate solutions. While obtaining a loan through New Start Capital may involve a hard credit check, making regular payments on time can help to improve your credit score. However, before choosing to work with New Start Capital, it’s important to consider the pros and cons of its financial solutions and evaluate whether they are the right fit for your individual needs.