Adverse Credit History
There are many problems about credit dealings because sometimes during the dealings the creditors have to face unforeseen circumstances.
As it has become a part of our life we sometimes ignore the problems we face through it. Though they also offer you extra protection, when things go wrong you may have spent more money than what you figured on and the protection may not help.
But if you have been in financial trouble at some stage, which most people have sometime and have arrears, a county court judgment or bankruptcy, the creditors may find it very difficult to issue you a credit card.
It has been seen that this adverse credit history hampers the person's life in later periods, as they have a poor financial record in the past they could not use credit cards, though they have sorted out their finances.
There are many factors which could create an adverse credit history and could lead you into trouble, which are as follows.
If you have not paid arrears on your mortgage or other loans, if the payments are not made on time and are over 30 days late on your mortgage or other loans, county debt is going against you. If your address is wrong and you are not available on the voters registration list at that address then also it is counted as your negative point.
If you are a multiple applicant for different credit cards then it acts as a negative score on your credit history. One of the main things is recent bankruptcy (undercharged bankrupts will always act as negative points to refused credit).
And last but not the least is repossession; it is also a bad thing to have on your credit.