Individuals who have no previous or existing credit agreements in place may find it difficult to obtain credit. This is because they have no credit history and lenders are unable to assess whether they are reliable payers or a good risk. Self-employed individuals may also find it difficult to obtain credit, as there is a higher risk of non-payment due to annual earnings being non-guaranteed. Some lenders do offer products designed to 'build credit rating', and although their terms may not be as attractive as those of the products offered to prime applicants, they do offer individuals the chance of building a credit history.
