2007-04-02 08:19:40 · 3 answers · asked by hemimelon 1 in Business & Finance ➔ Credit
Companies pull credit reports for almost everything these days - insurance (car, home & the like), mortgage loans, personal loans, credit cards, apartments, jobs, utilities, car loans, student loans, rent-to-own, etc. Bad credit could literally crush you in many different situations.
2007-04-02 09:40:15 · answer #1 · answered by YSIC 7 · 0⤊ 0⤋
Having a bad credit histroy will affect if you can get approved for: cell phones, apartments, loans, credit cards. Some banks will make you pay an annual fee if your credit is bad, anything you get will have a higher interest rate than someone with good credit and you will have to put a bigger down payment then if you had good credit.
2007-04-02 15:29:03 · answer #2 · answered by stefwood06 1 · 0⤊ 0⤋
It will raise your interest rate if you try to borrow money for a house or a car, or any line of credit.
Bad credit reports can also get you denied housing and job applications.
2007-04-02 15:27:23 · answer #3 · answered by Anonymous · 0⤊ 0⤋