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Neither is good, but both can be improved. Having no credit can make it difficult to be accepted for any type of credit, bad credit means at best the credit offered is going to be more expensive. To assist either situation you need to show a good record of using and paying off credit responsibly . . . no late or missed payments and overpaying where possible (targeting the most expensive debt you have or consolidating smaller debts is usually a good tactic).
To gain a credit rating (for example if you are young and haven't used credit before, or are new to a country) then using a small but manageable amount of credit (and repaying this off in full each month) will be a good way to build your rating. Also ensure that you are signed up to the electoral role in your area - this helps financial agencies keep track of you and improves the chances that you will be positively rated.
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Is there a bad credit finance agency in DallasTexas?
Even with bad credit you can get financing. However, bad credit will require a larger down payment and perhaps even a co-signer with better credit.
Is a 651 credit score bad?
i wouldn't say bad but it could be better.
Is no credit worse than bad credit?
Not having a credit history is better than having a bad credit history. Bad credit is very bad... No credit is good. you are now ready to apply for credit. Start small, like a department store credit card. You must establish credit and use it in order to get a credit rating.
What are the effects of bad credit remortgages?
A bad credit remortgage can be used for getting a better rate of interest,reduce monthly mortgage payments,consolidate existing loans and debts into one manageable monthly payment.A bad credit remortgage also helps to get a better credit score.
Is bad credit erased in 7 years?
NO. If you have bad credit, it will only be erased if you make it better. Paying bills on time, paying more than is due on payments and staying within your spending budget is a way to build your bad credit into good credit.
Do you need to have good credit?
It would be better than having bad credit.
Is there a bad credit finance agency in DallasTexas?
Even with bad credit you can get financing. However, bad credit will require a larger down payment and perhaps even a co-signer with better credit.
Is a 651 credit score bad?
i wouldn't say bad but it could be better.
Is no credit worse than bad credit?
Not having a credit history is better than having a bad credit history. Bad credit is very bad... No credit is good. you are now ready to apply for credit. Start small, like a department store credit card. You must establish credit and use it in order to get a credit rating.
What are the effects of bad credit remortgages?
A bad credit remortgage can be used for getting a better rate of interest,reduce monthly mortgage payments,consolidate existing loans and debts into one manageable monthly payment.A bad credit remortgage also helps to get a better credit score.
Is bad credit erased in 7 years?
NO. If you have bad credit, it will only be erased if you make it better. Paying bills on time, paying more than is due on payments and staying within your spending budget is a way to build your bad credit into good credit.
Are the rates for a bad credit home loan substantially higher than if my credit was good?
The better rates for borrowing in general are extended to consumers who have better credit. A bad credit home loan does not necessarily carry an excessively high rate of interest because those loans are government funded, and the government is not known for fiscal responsibility. In a discussion of "bad credit" mortgages, the issue is not about the rate of interest but about the ability to pay, In the majority of "bad credit" mortgages, foreclosure is nearly inevitable.
How do you delete bad credit?
you can not delete all u can do is try to make it better
What are the downsides of a bad credit loan?
It depends on how desperately you need the loan. If you are desperate for the loan, then you should take the bad credit loan, as it may be your only option. However, if you can, it is better to slowly rebuild your credit.
Who are the largest lenders for people with bad credit?
CapitalOne is better known for their credit card products. They also are a large lender to people with subprime credit.
Where can one with bad credit obtain auto loan financing?
Someone with bad credit can get an auto loan financed by either getting a co-signer that has better credit than they do, or going to a buy here pay here type of place that helps you rebuild your bad credit or establish your credit if you are just starting out.
How can one get a mortgage with bad credit history?
Although having a good credit history is better when applying for a mortgage it is possible to still get a mortgage with a bad credit history. When getting a mortgage with a bad credit history, one will have to pay a higher interest rate. Show the mortgage lender that you have a good job that will cover your mortgage. If you eliminate all other debt it looks better to the lender and gives one a better chance at getting approved.
