There’s a lot on the line when you have a low credit score!
A low credit score can make it harder to borrow, whether it’s a car loan, mortgage, or credit card account. And if you do qualify, you’ll likely have to pay higher interest rates to make up for your great level of default risk.
A low Credit score will prevent you from getting a job, even a promotion. It can come back to haunt you when trying to rent, as well. :
A low credit score is often a hurdle when trying to set up an account with a utility or an internet company. Customers with lower credit scores may have to pay a deposit before signing up, which acts as insurance should you fail to pay your bill.