There is a range of different types of credit available to consumers to aid meet their financial necessities. These can range from credit cards to charge cards. Here are a few common types:
Banks will often reject an application for a credit card if the applicant has bad credit. There are many reasons that consumers get rejected or not approved for a credit card: The main reasons are:
Records of these kinds are kept by private companies called credit bureaus. Credit bureaus compile factors into a "credit report" and distribute them to banks. If an individual has a problem with any of these factors, a bank may choose not to extend credit to them.
You can request a copy of your credit report from any one of the three major credit bureaus:
Fixing a credit score does not happen overnight and it takes time. Any agency or advice that claims to quick fix your credit score fast is usually unreliable and would most likely hurt your score in the long run. If you have bad credit there are several things you can do to improve it:
Dealing with your debts can often be confusing and frustrating. An attorney can help you sort out your financial problems, and offer solutions, including negotiating with your creditors and possibly filing for bankruptcy. A lawyer is familiar with your state's laws concerning consumer credit and will help to protect your interests.
Last Modified: 06-04-2014 02:49 PM PDTLaw Library Disclaimer
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