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What happens if one has a bad credit history?
Asked by unknown
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Having a poor credit history or a low credit score can seriously impact you financially. One thing that can happen is you could be denied a line of credit. A low credit score indicates to lenders that you are a high-risk borrower and they may not be willing to lend you money.
Is it cheaper to borrow with a loan or on a credit card?
Asked by unknown
1 Answers
This will depend on the deals you qualify for and arrange, and on the way you handle the debt. In the most general terms, loan rates tend to be lower than the rates on credit cards, but with deals such as 0% credit cards you may find a more efficient way of handling your debt.
Apart from credit cards, what measures can one take to raise their credit scores?
Asked by unknown
1 Answers
Do not apply for new lines of credit like loans, unless absolutely necessary. Do not make frequent requests for credit or loans. Make all periodic payments on time. Clear all pending due payments. Pay off debts instead of transferring them. If there is an issue of payment, contact creditors or see a credit counselor.