Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Common Credit Problems and other Credit Report topics.
You will get a low credit score if you have a bad credit rating. Employers, loan officials, and rental offices look at a bad credit rating as a red flag. If you have a bad credit rating it can be very hard to get a loan, rent an apartment, or get a job that works with money. Many people have a low credit score because they have not paid their bills on time. It is essential to make sure that every bill is paid in full when it is due. Making sure that you're able to afford something before you purchase it is important. Once you have a bad credit rating it can be very difficult to improve it. All of the dings against your credit score will need to be paid before you can even hope to build your credit back up. A low credit score will raise as your bills are paid. Once everything is paid off you will be able to start to get credit cards or loans with higher interest rates. If you can pay them on time, in full for a few years you will be able to see your credit rating raise exponentially. Once your bad credit rating is raised you will be able to get credit with a lower interest rate.
|Sheri Ann Richerson|