What is bad credit or a bad credit score?
A Lender uses your credit reports and your credit scores to make assumptions about your credit risk. The lower your credit score, the more risky they feel it is to lend you money, and the higher interest rates they will charge, if they decide on approving your loan request at all. Having a bad credit score means that lenders will consider you to be a high credit risk.
Increasingly, there are a number of other companies that will use your credit history and score to make determinations about you. Landlords, insurance companies, and potential employers, even state licensing associations, may all pull your credit history and review it. Bad credit can be a cause of you being denied an apartment, being charged higher insurance premiums, or even not getting employment or licensed in an industry.
Unfortunately, bad credit can often arise from errors or inaccuracies on your credit report. Many clients of ours have never seen their report, until they were told they had Bad credit and could not be approved. These labels are often times undeserved and a large amount of our clients come in underscored due to not being aware of or understanding of how and what was being listed on their personal credit reports.
Disputing bad credit because of errors or inaccuracy.
Each individual suffers the consequences of having bad credit listing in their credit reports. It is up to each individual to correct the issues on their credit report. The credit bureau will not figure it out for you. Bad credit is a large factor in not only determining the credit risk of an individual, but in providing them with a suited interest rate, resulting in higher expenses for them. Thousands of people who are considered to have bad credit based on the information in their credit reports are in actuality, not a high credit risk. The information in their credit reports is giving lenders an unfair impression, and that is where we come in to correct these issues and provide each person an efficient and effective service to reflect their actual credit worthiness.
The law is on your side. It is clear from numerous studies conducted by the government, that as much as 70% of individuals have inaccuracies and errors listing on their credit reports. This is why they have allowed each person to be able to dispute questionable items in an effort to have them permanently removed, and show a fair depiction of their credit worthiness. World Capital has helped people like this legally remove thousands of questionable, inaccurate, or obsolete items from their credit reports including late payments, collections, charge offs, judgments and bankruptcies.
Secured credit cards
Establishing good credit with no or bad credit history can seem impossible, but a secured credit card can help you build a strong credit foundation if managed responsibly.
Secured credit cards vary from traditional credit cards in that they require you to put down a security deposit. The deposit serves as collateral in the event that you cannot make the payment, and is generally equal to your credit limit. So, if you put down a security deposit of $300, your credit limit would be $300. Each secured card may come with different fees, maintenance costs or interest rates, so compare and read the complete details.
Your payment activity and account information will be reported to the three credit bureaus so it's important to make payments on time and avoid using too much of your available credit. Your payment history makes up 35% of your credit score, so on-time payments will help you build higher credit.
Apply for your Secured Credit Card and start building your credit history:
Platinum Prestige
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Platinum Select
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Why choose the Platinum MasterCard Secured Credit Cards?
- No Credit History or Minimum Credit Score Required for Approval
- Monthly Reporting to all 3 Major Credit Bureaus to Establish Credit History
- Quick and Complete Online Application
- Credit Line Secured by Your Fully-Refundable Deposit of $300
- Nationwide Program – though not yet available in NY, IA, AR, or WI
- Get Approved Fast – Just Click "Apply Now" to Start the Process!