A BAD CREDIT SERIOUSLY AFFECTS YOUR FINANCES
As you're maxing out your credit cards and ignoring your bills, it might not dawn on you that your credit could be affected. The timeliness of your credit card payments and the amount of debt you're carrying have the biggest impact on your credit score. A mess up in these areas and your credit score will plummet.
"What's the big deal with a low credit score," you might ask. Since so many businesses now judge you based on your credit score, having bad credit can make life extremely difficult, from getting a job to getting a place to live. Here are some of the most common side effects of no credit or bad credit.
High interest rates on your credit cards and loans
Credit and loan applications may not be approved
Difficulty getting approved for an apartment
Security deposits on utilities
You can't get a cell phone contract
You might get denied for employment
Higher insurance premiums
Calls from debt collectors
Judgments filed against you