What is a Poor Credit Score ?

A poor credit distinction is issued to an individual by one or all of the ‘Big Three’ credit reporting agencies denoting the high credit default risk of a borrower.

In other words: A low credit score equals poor credit & a high credit score equals excellent credit. An individual’s credit report illustrates the historical relationship a borrower has had with lenders & paints a clear picture of their repayment personality.

Lenders offering loans to individuals with poor credit face notable credit default risk due to the financial losses poor credit profiles expose them to.

For additional information on your credit report, the information lenders report to credit bureau’s & how to improve your credit score. Visit us at Millennial Credit Guide.