August 2012

Found 1 blog entry for August 2012.

A bad credit score is generally a score of 580 or under. However, you will find it extremely difficult to have someone qualify you at this score level. Even a 600 score is one that a high number of Lenders will consider too risky to approve. A Lender uses your credit reports and your credit scores to make asumptions about your credit risk. The lower your credit score, the more risky they feel it is to lend you money, and the higher interest rates they will charge, if they decide on approving your loan request at all. Having a bad credit score means that lenders will consider you to be a high credit risk.

Increasingly, there are a number of other companies that will use your credit history and score to make determinations about you. Landlords, insurance

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