Having Bad Credit

Alisha: This is the second time I’ve been Turned down for a credit card in a month. I don’t know what I’m doing wrong.

James: Have you checked your Credit report recently? Maybe you have a bad Credit rating.

Alisha: I have a full-time job with a good Income, which they can easily Verify, and I don’t have any Outstanding debt, so what could be the problem?

James: Have you had a credit card before?

Alisha: Yes.

James: Did you always make your Payments on time?

Alisha: Well, no.

James: Then that may be your answer. Your Payment history makes a big difference with the Credit bureau. If you’ve Missed payments or been late, that’s a big Strike against you.

Alisha: You mean if I were late a few times, I wouldn’t be able to get another credit card?

James: A few times? How many times?

Alisha: Well, maybe a lot of times.

James: And why do you need another credit card if you already have one?

Alisha: Had one, Past tense. The credit card company Cancelled it.

James: Ah ha, I think we’ve just found the Crux of the problem.

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Having Bad Credit