Article: Restoring Your Credit Worthiness
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Restoring Your Credit Worthiness
Have you been denied a loan? Have you been offered one at an unbelievably high rate of interest? Are you having trouble getting a new credit card? If these things have happened to you you've got bad credit!
What is bad? Can you fix it?
The most important indicator of poor credit is a low credit rating, otherwise known as a low FICO score. A score of 650 or lower will give you problems while 500 is abysmal. Fico is a number that is calculated, taking into account your total debt, the number and length of late payments, and some other factors. This number is calculated by three main credit reporting agencies and is then made available to lenders and to the individuals themselves.
Improving your credit rating is difficult but definitely possible an...
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