4 Reasons Your Credit Score Is Low & What You Can Do About It
Your credit score is a number that represents your creditworthiness. It is used by lenders to determine whether you are a good candidate for a loan and what interest rate you will pay. A low credit score can lead to higher interest rates and may even prevent you from being approved for a loan. There are several factors that can contribute to a low credit score, but there are also things you can do to improve your score.
One reason your credit score may be low is if you have missed payments on your bills. This shows lenders that you are not reliable in making payments, which makes them less likely to approve you for a loan. If you have missed payments, try to catch up as soon as possible and make sure to pay all of your bills on time going forward.
Another reason for a low credit score could be high balances on your credit cards.
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