Bad credit is a challenge, but it doesn’t have to be the end of the road! Many adults live with and overcome poor credit ratings. Today we wanted to describe situations that lead to bad credit – and what you can do to alleviate the problem.
The Formula
A poor credit score may be as low as 300, whilst a good credit score is often as high as 850. All in all, there are five factors that determine your credit rating. These include your payment history, your credit history, new credit applications, current debts and current credit. One way to avoid a low credit score is to refrain from carrying high credit card balances.
