Bad credit can have a negative affect on your financial health in a number of ways. In the world of credit itself, it means you'll have limited access to credit opportunities such as loans and mortgages, and any you manage to be approved for will likely come with higher-than-average interest. You'll also be unable to get higher-tier credit cards with rewards and perks, as those typically require a "good" to "excellent" credit score for approval. Outside of that, your bad credit may also hinder you in other aspects of life. Employers and landlords may request a credit check (or a copy of your credit score) when applying for jobs or housing, while cell phone and insurance companies are also well-known to conduct credit checks on potential clients.