The 5 Cs of Credit determine how lenders define your creditworthiness. They are character, capacity, collateral, capital, and conditions and each determines how likely you are to receive funding. I will explain all 5 C’s in-depth below. The 5 C’s of Credit Explained Character The first and probably the most …
Your Credit Rating: 5 Factors that Negatively Impact It
Lenders look for things that negatively impact your credit rating. They determine your credit risk based on your credit score as it’s the easiest way for them to determine your ability to pay back credit cards or loans. The 2 national credit bureaus used by consumers to determine their own …