The High Cost Of A Poor Credit Rating

Is your credit rating good or poor? If you've recently been turned down for a credit card, store card or loan, it could be because you've paid off everything so perfectly that you have no credit history. But it's more likely to be because your credit rating is poor. And this means it could be difficult to get credit at a price you find attractive. What Makes A Poor Credit Rating? Applications for credit are scored using criteria on the application form. For example, home owners score higher than renters and it's useful to be on the electoral roll. People tend to get a poor credit rating if: - They have defaulted on payments in the past; - They have been made bankrupt; - They have paid bills late (arrears); - They have had County Court Judgements (CCJs) against them B View the rest of this article