Knowlopedia
Valued Contributor
- Credits
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Yes, materialistic things may be easier to attain with good credit. However, those who have bad credit often retreat into their own little worlds where they only trade with others they know, and effectively isolate themselves from society. If you're someone who thrives on the social aspect of life, there's nothing more degrading than a tainted credit score. Some people are just too proud to ask for help when they need it — but that solution is only feasible if your debt is already manageable and under control.
Just be aware of what comes with having bad credit, as most people won't extend too much sympathy when your situation comes up in conversation or interactions.
While having no credit is sometimes not a bad thing, having bad credit can keep you from getting a bank account, car loan, apartment, decent job, and the list goes on. Bad credit can also subject you to higher interest rates than most people pay.
You could get an installment loan provided that your credit score is enough – usually around 600 or above. Being denied loans might be a good thing though as it prevents you from going into excessive debt and being further in the hole.
Good or bad though, there are many things that one can do to turn their bad credit around. You have to identify the root problem first of all before you start trying to fix it.
Just be aware of what comes with having bad credit, as most people won't extend too much sympathy when your situation comes up in conversation or interactions.
While having no credit is sometimes not a bad thing, having bad credit can keep you from getting a bank account, car loan, apartment, decent job, and the list goes on. Bad credit can also subject you to higher interest rates than most people pay.
You could get an installment loan provided that your credit score is enough – usually around 600 or above. Being denied loans might be a good thing though as it prevents you from going into excessive debt and being further in the hole.
Good or bad though, there are many things that one can do to turn their bad credit around. You have to identify the root problem first of all before you start trying to fix it.
