Though credit score is amongst the major factors considered by financial institutions while evaluating credit applications, most with no or rating that is low to find out its value. Whatever they may not be in a position to understand is that the necessity for credit will come any time up as time goes by and credit that is building demands time.
Allow me to share five negative effects of experiencing no or low credit score:
Reduced loan eligibility
While evaluating loan demands, loan providers fetch credit score in connection with prospects for assessing their creditworthiness.