You have an adverse credit history or poor credit history?

Adverse credit history is a negative credit rating. Adverse credit rating is also called sub-prime credit history, non-status credit history, bad credit history, impaired credit history or poor credit history. The credit provider companies when judging credit history are using all of these temps. No one loves to have an adverse credit history.

When you apply for a loan, lenders will check your credit worthiness by looking at your credit history. They get this information from the credit reporting agencies. Credit reporting agencies keep track of your financial transactions while repaying loan or credit. They use this information to decide whether you have a poor credit history or not.

On the basis of your financial transactions, credit agencies assign you a credit score. And in case your credit score is below a certain amount, you will have bad credit history. It means that you are not likely to pay your credits on time or you may fail to make the payments altogether.

Banks and credit card providing companies pay to credit agencies to get this information. If you have an adverse credit history, lenders may simply refuse your credit request. And in case they agree to offer you credit, they may be offering you the lower amount than you have requested or may offer you credit on higher interest rates than you would have been offered if you do not have a bad credit history.