Shutterstock. Bad credit can mean you will pay a higher interest rate when borrowing money than if you had a good credit score. It can also affect your eligibility for a loan or line of credit.

Changes are coming to your credit score. As people worry about tariff-induced price hikes and the outlook for the job market, FICO last month announced it will introduce buy-now-pay-later loan data ...

A bad credit score generally falls below 600 on a scale of 300-850, depending on the credit scoring model. Bad credit is often used interchangeably with a “poor” credit score.

No single number defines a bad credit score for a car loan. In general though, if your credit score is below the mid-600s, you can expect higher interest rates and more difficulty getting a loan.

This means that certain debt relief strategies, like using a balance transfer card to temporarily wipe out interest charges, ...

15% length of credit history: The longer you’ve owned a credit account, the more it can help your credit score. 10% new credit: When you apply for new credit, the card provider will likely pull ...

Experian also writes that “credit mix,” or managing installment accounts ... Factors that may contribute to a bad credit score include late payments of more than 30 days and utilization rate.

Credit scores may seem mysterious, and unfair, to some consumers. Approve is rubber stamped on a credit report with a high score. Getty Images April 26, 2014— -- Our society values hard work ...

Shutterstock. Bad credit can mean you will pay a higher interest rate when borrowing money than if you had a good credit score. It can also affect your eligibility for a loan or line of credit.