It's tough living on the lower end of the credit score scale. If you have a credit score below 640 or so, you are generally given "subprime" lending offers for any form of credit that you request. From credit cards to auto loans and mortgages, you will be hit with higher interest rates and potentially other restrictions and fees.
According to credit bureau TransUnion's Q2 2017 Industry Insights Report, you now have another problem to deal with – difficulty in getting credit at all.
TransUnion found that overall originations for subprime consumer credit have dropped sharply over the past four quarters. Total subprime originations dropped from a post-crisis peak of just under 6 million consumers in Q2 2016 to just under 4.6 million in Q1 2017. The last two quarters represent the first consecutive year-over-year decreases in overall subprime ori...
from MoneyTips https://www.moneytips.com/lenders-pulling-back-on-new-subprime-loans/648
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