A credit rating can be described as a way of determining exposure
- Just how reliable you have been on and work out costs in earlier times
- How many tough borrowing from the bank enquiries that are on the file: every time you make an application for financing, you get a challenging credit enquiry and therefore alerts upcoming loan providers you to you really have in the past removed finance.
- Non-payments, black marks and you may courtroom judgments: for those who consistently generate late payments or neglect to make payments at all next such more serious bad borrowing from the bank postings might be wear your account. Every one of that may remain on your own apply for age, hauling your credit rating down. (more…)