How Can a Bad Credit Score Hurt You?

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As you may be aware, your credit score is kind of a big deal.

A good score makes life easier, while a poor score can make it pretty difficult.

Trouble is, a lot of people don’t realize what their credit score really is.

Or how having a bad credit score can hurt them and even cost them thousands of dollars if not improved.

Here’s what you’ll face if your score falls in the credit score range of very poor, poor, or even fair:

• Trouble obtaining new credit
• Higher interest rates and fees, if approved
• Higher insurance rates
• Trouble obtaining an apartment lease
• Inability to purchase a home
• Difficulty buying a new car or other big ticket items
• Difficulty getting a mobile phone or other contracts
• Requirements for deposits or full payment upfront for services
• Potential issues getting hired for certain jobs

What is a Credit Score and How is it Calculated?