How credit scores are evolving

Some reasons for a low score are out of your control — such as unexpected medical debt or a lack of credit history.

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National News

February 22, 2023 - 4:39 PM

Photo by PIXABAY.COM

NEW YORK (AP) — A lowcredit score can hurt your ability to take out a loan, secure a good interest rate, or increase the spending limit on your credit card.

Some reasons for a low score are out of your control — such as unexpected medical debt or a lack of credit history.

Credit rating agencies are working to improve access to credit by giving people more time to pay medical bills before the debt appears in reports, and by removing other debt completely. They’re also making it easier to count rent, utility payments, and other recurring bills — a boon for those who need credit the most.

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