Definition of «low credit»

The term "low credit" refers to an individual's or a company's poor financial standing, characterized by low credit scores and high debt levels. It indicates that the person or entity has not been able to manage their finances effectively, leading to difficulty in obtaining loans or credit at favorable rates. A low credit score is typically determined by factors such as missed payments, high balances on credit cards, and a limited credit history. As a result, individuals with low credit may have trouble securing housing, car loans, or other types of financing due to their perceived higher risk for default.

Sentences with «low credit»

  • For private loans, borrowers with higher credit scores generally qualify for lower rates and borrowers with lower credit scores get higher rates. (nerdwallet.com)
  • We have good networks with trusted and reliable private lenders and have assisted clients with low credit scores in the past. (mortgagebrokerstore.com)
  • Some banks even offer cards with lower credit limits. (lifeoncredit.ca)
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