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Bad Credit Side Effects

High interest rates on your credit cards and loans. If having bad credit score indicate that your using your credit
card to much and cannot pay the credit on due date. If you’re approved with bad credit score you will pay more
interest rate over time than you would if had better credit score.

Credit and loan applications may not be approved. Having bad credit score is not good record on you because if
you want to apply for new credit or loan it will denied because of your bad credit. You may find it hard to apply for
new credit or load in the future.

Difficulty getting approved for an apartment. Many people don't realize landlords check credit before approving a
rental application. Having bad credit can make it much more difficult to rent an apartment or house. If you find a
landlord who will rent to you despite your low credit score, you may have to pay a higher security deposit.

Security deposits on utilities. Utility companies – electricity, phone, and cable – check your credit as part of the
application process. If you have a bad credit history, you may have to pay a security deposit to establish service in
your name, even if you’ve always paid your utility bills on time. The security deposit will be charged upfront before
you can establish service in your name.

You can't get a cell phone contract. Cell phone companies check your credit too. They argue that they’re
extending a month of service to you, so they need to know how reliable your payments will be. If your credit’s bad,
you may have to get a prepaid cell phone, a month-to-month contract where phones are typically more expensive,
or go without one at all.

You might get denied for employment. Certain jobs, especially those in upper management or the finance
industry, require you to have a good credit history. You can actually be turned down for a job because of negative
items on your credit report, especially high debt amounts, bankruptcy, or outstanding bills.

Employers check your credit report and not your credit score. They're not necessarily checking for bad credit, but for items that could affect your job performance.

Difficulty starting your own business. Starting new business need money to help funds their startup. A bad credit history can limit the amount of your able to borrow to start new business, even having solid marketing plan to
success.

That’s why there are credit repair Company to assists us in making our credit score from having bad
credit to good credit.