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Bad Credit History and Rating, credit rating canada.#Credit #rating #canada


Bad Credit History and Rating

Your history tells creditors about behaviors that can add up to a good or bad credit rating. Here are some questions lenders might ask that may help them understand your credit history:

  • Do you pay your bills on time?
  • How long have you used credit?
  • Have you opened several credit cards in a brief time frame?
  • How much debt do you have compared with your available credit limit?

How to Improve a Bad Credit History

Credit scores are tools used by lenders to evaluate the answers to those questions. They help determine the risk that you will not be able to repay a debt as agreed.

You can improve your credit report if you know what it contains. Although you can t rewrite history, the passing of time will remove negative credit information from your report. Weak credit scores don t necessarily mean you won t obtain credit. You can get rid of bad credit habits, restore your positive credit history, improve your credit scores and use credit to your advantage.

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