Bad credit? Time for tough love and no excuses
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Quick, what’s your credit score? Don’t know? Don’t care? You should. If you’ve been turned down for loans or received high interest rates from lenders, your credit may be, well, bad. The good news? You can fix it. You really can. But there’s no magic formula. There are, however, some concrete steps you can take to turn your credit situation around. Begin by understanding what contributes to your current score and follow the four steps outlined below to change course.

“What is bad credit, anyway?”

Bad credit means that you have negative items or limited entries on your credit report resulting in being on the lower end of the Fair Isaac Corporation (FICO) Credit Score scale. FICO is the U.S. standard banks use to measure a person’s creditworthiness. Your credit report consists of entries from lenders saying you have paid your bills on time, how long your account has been open and other information about your account. When you apply for new credit, such as a credit card, the potential lender looks at your credit report to see how you have behaved with other lenders. The point range is 300-850, with 300 being the lowest score. Credit scores below 620 will…………… continues on NASDAQ

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