The Free Credit Ability Today Blog

You look at your credit score a you see a number smaller than you would like, especially smaller than potential creditors would like to see.

Once you understand what creditors look at you can begin to build credit.

Today I’ll provide a fairly definitive list of just what it is that spells bad credit (the bad credit that keeps you from getting approved):

• Having debts doesn’t especially endear creditors to approving you and aiding and abetting the creation of more debt!
• Having your debts become deliquencies tell creditors that if they give you money you will never give it back!
• Late payments are an unattractive sign: a sign that you are irresponsible.
• Going over your limits tells a creditor that you are out of control of your spending.
• Inquiries posted onto your credit report only tell a creditor that you have applied for other credit. They do not know whether you have that line of credit as well and usually don’t want to potentially give you more.
• Reposession, foreclosures, and bankruptcy are especially irksome to creditors.

If you find yourself with bad credit, then this is what your money management resume (the credit report) says to creditors.

Luckily, you can turn things around. Next Tuesday, we’ll discuss the Big Bads of credit repair.

Tomorrow, we’ll ease some pain of self employment loans with its sponsored serenity prayer.

So what problems have created bad credit for you?

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