A Bad credit rating can be caused by making too many applications for credit in a short time through to missing repayments on your credit agreements.
Sometimes missing too many payments can lead to your lender ending it’s agreement with you and this is known as a default. If a default isn’t dealt with it could be taken further and a County Court Judgement can be registered against you.
All information about your repayment history is reported for six years. This means that if in the past 6 years you have missed repayments or suffered from defaults your credit rating won’t be as high as you would like.
Having a bad credit rating can stop other lenders from accepting credit applications. A pay monthly catalogue company will credit check and credit score your application and if they see problems it could mean they will refuse an application.
However, there is a Catalogue company willing to overlook your past and consider what you are going to be like in the future. This Catalogue will guarantee acceptance and you could receive a credit limit of up to £2500.
Introducing the Savvy Benefit Card
If you have bad credit and have been declined credit with a Catalogue company you should consider the Savvy Benefit Card Catalogue, it offers you the chance to build your credit rating by proving you can maintain payments on a credit agreement. Just be sure to keep up with your repayments and this can help build a damaged credit rating. Click here to apply for the Savvy benefit Card.