If you have bad credit, you will understand credit matters. Credit scores between 300 and 579 are considered low. Many lenders will turn down credit applications from consumers with credit scores at this level, which could result from bankruptcy or other serious credit issues. Sometimes it can be due to not having any credit.

Credit card applicants with scores in this range may only qualify for secured credit cards requiring a cash deposit equal to the card’s spending limit. Utilities may need customers with scores in this range to put down sizable security deposits.

You can live with bad credit in America today, but it is difficult, you see, credit matters. Many tasks become more complex, impossible, or expensive when you have bad credit. Credit repair is vital for saving money on insurance, financing, and credit cards, but it isn’t the only reason to do it. A higher credit score can lead to new job prospects, as well as promotions and raises at your existing job.

Continue making regular payments on time on each of your accounts; until you pay your balances in full. Many aspects of your life are affected by credit ratings, so make sure you keep on top of your credit by monitoring it and paying your bills on time.