What Is Bad Credit and How to Fix It

“Your credit score is used by lenders to determine if you are a good candidate to extend credit to. However a low credit score can flag you as a credit risk and may make it difficult to get credit. Bad credit doesn’t have to last forever. You can take steps to improve your credit score over time. Here’s an explanation of how these scores are determined, what’s considered a good or bad one, and some tips on how to establish, improve and maintain good credit.”

Woman looking at computer screen with credit card

When you’re talking about credit, or basically the level of trust potential lenders have that you’ll repay money you’ve borrowed, you could fall anywhere on a scale from very bad credit, meaning no one will lend you any money, to having outstanding credit, where banks and credit companies practically beg you to borrow. Most people fall somewhere in between these two extremes…

 

Read more: https://www.thebalance.com/what-is-bad-credit-960369

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