What does it mean to have bad credit? If you buy things on credit and don't pay them back, use credit cards and don't pay the bill, stop paying your mortgage, or miss a rent payment, you are contributing to poor credit.
You have a history of not paying your bills either on time, at all, or both.
What happens when you have bad credit? It will make it really difficult, if at all possible, for you to get a loan, whether it is a car loan, mortgage loan, business loan, credit card, or personal loan.
Basically, you don't want poor credit.
Most likely you want to improve it.
There are various different ways you can do this.
First, you need to start paying all your bills on time.
This will both keep your credit from getting worse and slowly bring it bad up to good.
Pay all your bills and pay off all your loans.
If you have a mortgage, always pay it on time.
If you are behind on payments on your mortgage, or anything, pay it up to date.
Any payment you make will contribute to your credit, not just loans.
Pay your utility bills, cell phone bill, rent, and everything else that you need to pay on a regular basis on time or sooner.
By doing this, you are building trust in yourself.
The more you pay your bills on time, the more likely creditors will see you as dependable and the more likely they will give you a loan down the road.
If paying your bills on time is not fast enough, there are other measures you can take.
Some people don't have very many bills and taking on more credit and paying it efficiently could help you more quickly bring up your credit.
One way to do this is with a bad credit credit card.
These are credit cards that are made specifically for people with bad credit.
Most people with poor credit won't be able to get a regular credit card because of their poor credit and will only have this type of card available.
While this could help you improve your credit, is it really worth it? If credit cards got you into this mess in the first place, this might not be a good idea.
Charging everything, including much more than you can afford, can put you into heavy debt.
If you are used to charging everything and are a shopaholic, having another credit card on hand could severely hinder your road to recovery.
On the other hand, if you simply made some poor choices and bad mistakes, but you really want to get a house soon or a car and need a loan within the next year or two, if you can control your credit card use, using a bad credit credit card just might help get you there a little faster.
You have a history of not paying your bills either on time, at all, or both.
What happens when you have bad credit? It will make it really difficult, if at all possible, for you to get a loan, whether it is a car loan, mortgage loan, business loan, credit card, or personal loan.
Basically, you don't want poor credit.
Most likely you want to improve it.
There are various different ways you can do this.
First, you need to start paying all your bills on time.
This will both keep your credit from getting worse and slowly bring it bad up to good.
Pay all your bills and pay off all your loans.
If you have a mortgage, always pay it on time.
If you are behind on payments on your mortgage, or anything, pay it up to date.
Any payment you make will contribute to your credit, not just loans.
Pay your utility bills, cell phone bill, rent, and everything else that you need to pay on a regular basis on time or sooner.
By doing this, you are building trust in yourself.
The more you pay your bills on time, the more likely creditors will see you as dependable and the more likely they will give you a loan down the road.
If paying your bills on time is not fast enough, there are other measures you can take.
Some people don't have very many bills and taking on more credit and paying it efficiently could help you more quickly bring up your credit.
One way to do this is with a bad credit credit card.
These are credit cards that are made specifically for people with bad credit.
Most people with poor credit won't be able to get a regular credit card because of their poor credit and will only have this type of card available.
While this could help you improve your credit, is it really worth it? If credit cards got you into this mess in the first place, this might not be a good idea.
Charging everything, including much more than you can afford, can put you into heavy debt.
If you are used to charging everything and are a shopaholic, having another credit card on hand could severely hinder your road to recovery.
On the other hand, if you simply made some poor choices and bad mistakes, but you really want to get a house soon or a car and need a loan within the next year or two, if you can control your credit card use, using a bad credit credit card just might help get you there a little faster.