People with bad credit tend to be late with monthly payments or default their loans. They might have a recent bankruptcy record in their credit report as well. In this case your FICO score will range between 350 and 639.
Glossary Terms: Bad Credit
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Bad Credit
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I plan to get a credit card to start building my credit. I have only Chime Visa card which is a debit card, no loans or other credit accounts so far. Can you recommend me a card to start building my credit? I’ve been using my Aspire credit card for a year or so and now I’m closing it because my credit score hasn’t changed much even though I’ve never paid a penny late. Can you recommend me a credit card that will give a real improve to my credit? I recently went through a divorce and now I'm a mother with two small children. I haven't worked for several years and was a stay-at-home mom. I was struggling to keep up the payments on my Chase credit card. For a while I made the minimum payments of $170 monthly, but then I found that I could no longer afford them and simply stopped paying anything at all. I avoided my responsibilities for some time and now, when I have a good job, I decided that I need to move on and start paying off my debt which reached $4,600 now and APR is crazy 29.99%. I do not want to declare bankruptcy, but I do not know where to start. Could you help me or give a piece of advice? More FAQs
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