It can be the result of late payments on your credit cards, loans you never paid back or a bankruptcy. If you experienced these problems in the past, you may find it difficult to get credit. Bad credit can follow you around for a long time unless you take steps to improve it. If you ever had a loan or a credit card, you probably have a credit history on file with one or all of the three major credit reporting bureaus. If you didn't handle your past credit responsibly, you will probably be turned down for new credit.
Bad credit makes it difficult to borrow money or get a credit card.
It may also keep you from renting an apartment, having phone service, buying a house or car or even getting a job. Landlords, utility companies and employers, as well as lenders, all have the right to check your credit history and to use your bad credit as a reason to turn you down. If this happens, you have a right to know which credit reporting bureau provided the information. You can get a free copy of your credit report if you were denied credit or turned down for a job or an apartment within the past 60 days because of information provided by a credit bureau. If you have recently been denied credit, you can have a free copy of your credit report.