how important is credit history regarding score?

Submitted by corgee on Tue, 10/13/2009 - 18:41
Forums

It seems like credit history has a big part in credit. I don't have too bad of a score but I still have been turned down for multiple credit cards. My score is in the high 600's.
Anything I can do to get around this?

Hi Corgee,

Post recession, creditors and lenders have become a little skeptical about extending loans or credits to people having scores in 600s. You can either get a cosigner to sign the loans along with you or try and improve your score. For doing this, you can get a secured credit card and use it properly, or else you can also get some gas/store cards and pay the bills properly. You might also become a member of credit union. All these will help you to improve your credit score.

Wed, 10/14/2009 - 06:57 Permalink