Myth 1 – Poor credit makes me unreliable in lenders’ eyes

This is not an established fact. Lenders are ready to lend you money. However, get ready to be charged higher interest rates. Nowadays, the market offers a number of cards for those who think their credit is ‘bad’. Such cards charge higher interest. Besides, they offer shorter 0% deals. Fortunately, it is quite possible to restore your credit score. All a person needs to do is to prove that he’s a trustworthy and reliable borrower. Use those cards, but always remember to pay back. Your balance must be paid regularly. Do not miss the payments. Do everything on time. Also, if you’re ready to start building up your good credit, find the right card and use it wisely. You will soon get back on your feet and later on more lenders will give you access to better cards. Finally, do your best and stay debt-free in the future.

Myth 2 – A serious default will stay on my file forever
Defaults, even serious ones, do not stay on your file forever. They tend to be forgotten in time. Bankruptcy doesn’t mean that you’ll not be able to borrow. Did you know that some credit cards accept clients even if they had a CCJ in the past four years? If a bankruptcy or a CCJ happened three or four years ago, it is very unlikely to see any effect on your profile. No doubt you can get another credit again. If the default happened six and more years ago, all of your past mistakes are removed. Never give up and believe in yourself. Stay active even if those six years haven’t passed yet. Try and borrow elsewhere, then pay back right on time. If your credit profile is clean of big mistakes, your credit file will look much better. This will allow you to hope for more credits from other lenders.