2007-02-28 06:07:02 · 5 answers · asked by Roean W 1 in Business & Finance ➔ Credit
Credit is like trust. You have to build it by proving yourself many times over. But you can ruin it by breaking that trust just once-- charge offs, collections, etc.
It sucks, but it also makes sense. And if you understand credit, your score can also raise pretty rapidly with some key changes and smart useage.
2007-02-28 06:45:06 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I'm assuming its because they have to give you a long time to see if you've been keeping up on payments with other things that you have and then your points slowly go back up
kind of like if one person cheats in a relationship and gets caught, they decide to stay together but the trust factor has gone way down....so they have to be given lots of time because the person who got cheated on needs to see how much the other has changed over time to get things slowly back to the way they were
2007-02-28 14:17:06 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Because it takes no time at all to screw up but a lot longer to prove that you're not going to do it again.
2007-02-28 14:22:13 · answer #3 · answered by Faye H 6 · 0⤊ 0⤋
did you know that if any one checks your credit score like if a car dealer says like me run you credit through our banks every tim its 15 points taken i think
2007-02-28 14:11:21 · answer #4 · answered by aljohn316 2 · 0⤊ 1⤋
its takes a while to build a good reputation but just a few seconds to ruin it
2007-02-28 14:10:10 · answer #5 · answered by links305 5 · 0⤊ 0⤋