How do credit card companies decide if you are a good credit risk or a bad
credit risk? Well, it’s sort of a Big Brother thing. There are several
large agencies in America which track the borrowing and buying behavior of
just about every single American who has borrowed money at one time or
another.

The three major credit rating agencies are:
Experian,Equifax ,and Trans Union Corp. :

When you send in an application for a credit card, the card company
contacts one of the above agencies, which pulls your file, if one exists,
and let’s the company know if you have any bad debts in your background.

If you have never borrowed money or used credit of any kind, your name will
not appear in the data base of any of the above. If you have, there will
almost certainly be information about you. If you have ever defaulted on a
bill, or walked away from a debt owed, that information will be available.
If you have never defaulted on a loan, but have made frequent late
payments, that is recorded, too, and goes against your credit rating.

Many women who marry young and do all their borrowing under their husband’s
name often find themselves with no credit rating after they are widowed or
divorced. Thousands of women have been denied loans and credit cards on
that basis.

Still other people carry too much debt to be considered a good risk. If
you have a car loan, a student loan, a mortgage, two or three — out cards,
you are unlikely to be granted another credit card.

But in any and all of the above cases, you can still obtain a credit card.
No matter how bad your credit, and even if you have declared bankruptcy,
you can still be granted a VISA or Mastercard with a limit as high as
$5,000, if you know the write company to call, and how to make your
application.

Your Credit Rating
Bad Credit