Does enough good credit offset any bad credit?
Any amount of bad credit is
devastating to your chances of being approved by a credit grantor. Most
credit grantors never actually look at your credit report. A computer
pulls your credit report, rates your credit standing, income,
indebtedness, and stability, and then spits out an acceptance or
denial. Even one or two slow pays will usually trigger a credit card or
personal loan denial. The slightest amount of negative credit will
cause the interest on an auto loan to skyrocket. You will probably find
that even a little bad credit, regardless of how much good credit you
have, is an unacceptable barrier to credit approval.
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