What does a “bad credit history” mean? What to do about it, and how to get credit with it.

Nobody likes rejection and when it comes to credit, being declined for a loan can have a serious effect on your plans. Not being able to buy the car you want, consolidate your other debts or make home improvements are more than just inconveniences, they can be major setbacks. If you’ve been rejected for credit, then it’s probably because you have an impaired or bad credit history. Credit scoring is carried out on everybody who borrows money, uses credit cards or has an overdraft and it is a way for lenders to assess the risk that you won’t keep up with repayments if they extend further credit to you. If you do have a bad credit history, then you are not alone. Thousands of British people are in the same boat with poor or bad credit records. But many others have successfully taken steps to repair their poor records and to be able to start borrowing at low interest rates again. And once you have restored your credit rating, then so long as you continue to behave responsibly and m
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