There are many reasons why someone might have a low credit score and not all due to bad handling of their finances. Obscure (or not so obscure) situations like coming out of a relationship where all things were in your partners name or turning your life around after a stint in jail or habitual criminal earnings may mean that a person will not have the expect credit history.
Lenders can be very sceptical of someone who has seemed not to exist for a time and this can reduce your credit score to tatters. The worse thing about it is most of the time the things you need to do to increase your credit score will initially lower it for a time but its just one step back for two steps forward.
My lowest credit score was 42 and I shall share how I raised my score as well as exploring methods to increase it further.
Filter my blogs by the category Finance to read more of my how’s and why’s to good finance.