A person is said to have adverse credit history, also called sub-prime, poor or bad credit history if he has a history of unsatisfactory credit transactions.
Your credit history is constantly tracked by credit rating agencies. They assemble a record of your borrowing, track your repayments and record any actions taken to recover overdue monies. The credit rating agencies also gather a lot of other information.
This information is sold by the credit agencies to organizations that offer loans or credit to individuals.
Another service, Credit scoring, offered by most credit agencies, statistically analyses a credit history and assesses the likelihood that a borrower will repay borrowed money. The higher your credit score, the better is your credit history and the easier it will be for you to get a great rate or a higher credit limit on your credit card.
Incase you have poor credit, using credit cards that help rebuild credit history is a good thing. Credit cards like the
Catalog USA Gold Card report your credit line is reported to major Credit Bureaus, helping you rebuild credit over time.
A word of caution here - It is absolutely no use to take a card that will help you rebuild your credit history and then default on it. You don't need another negative remark on a poor credit history.
