Top Reasons for a Bad Credit Score

  • Posted on: 24 Dec 2022

  • There are a lot of variables that determine your overall credit score. A bad credit card score is typically caused by these factors.

    • Failure to pay on time

    • Tax liens

    • Filing for bankruptcy

    • High debt-to-credit ratio

    • Court judgments

    These are factored together and generate your credit report scores. While there are several credit Repair services, they generally use a scale that rates your credit from excellent to poor. This rating determines your ability to get credit. The lower your credit score, the more difficult it is to get credit.

    What is Considered a Good Credit Score?

    As we have reviewed on our site, the best credit card offers to go to consumers with the best credit score. It’s a bit of a self-fulfilling prophecy.

    Here is a breakdown of how lenders view credit scores:

    • 770 or Above – Any credit score above 770 will give you the best rates.  Lenders crave customers with a solid credit history. A 770 or above proves to the bank you have been doing things right.

    • 620 – 769 – Of course, the higher your score the better, but once you near the 620 range you are looking at less lucrative credit card offers.

    • 619 and Below – You will want to focus on improving your credit score.  The lower your score the more you risk not being accepted for credit cards.

    Cards That Can Help Repair Bad Credit

    While establishing and maintaining a good credit score is your ultimate goal, in the meantime you can have bad credit and credit cards. Start by applying for one of the credit cards for bad credit.

    One of the most popular types of credit cards to help improve you're is a secured credit card.

    With this type of card, you are required to make a deposit into a bank account and this deposit becomes collateral for the card. Since all transactions made with secured credit are recorded by credit rating agencies, you can use these cards to improve your rating score.

    First Premier Bank, for instance, offers a secured credit card designed for those with bad-to-fair credit. Some of the highlights of this credit card include:

    • A $95 deposit will earn you a credit limit of $300 (if you are approved)

    • The ability to rebuild your credit history with minimum on-time payments and a balance below your credit

    • No interest charges if you pay your balance in full at the end of each month

    • Your $95 deposit will be returned to you if you close your account with a balance of $0.

    • To obtain a credit card for bad credit you must have an active checking account.

    The Road to Financial Recovery

    Bad credit and credit cards” doesn’t have to be an oxymoron. There are millions of Americans who are discovering the use of specialty credit cards in repairing their credit. Explore the options available and discover which one works best for your situation.

    If you are struggling with bad credit then a credit repair company helps you repair and improve your credit. Credit Repair Ease is of the best credit repair service provider firm in the USA that helps you improve your credit.

    Just Call on (888) 803-7889 and repair your credit fast!

    Ten Tips to Make you More Attractive for a new Home Loan
    How to Fix Your Credit Fast10 Easy Steps to try