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Generally, a FICO score of less than 620 indicates that an individual has bad credit. This score is a calculation of an individual's creditworthiness based on such factors as payment history on past and current accounts, as well as the amount of debt the individual is carrying. It's important to note, however, that the definition of bad credit varies widely amongst various lenders and financial institutions, as each has its own criteria and cut-off points to determine whether an individual has good, fair, or bad credit. While a credit score of less than 620 is a broad guideline, it is not necessarily adhered to by all lenders. Some, for instance, consider a credit score of less than 650 to be indicative of bad credit. Bad credit can result from one or more of the following being reported to an individual's credit history: paying bills past their due date; not paying bills at all (defaulting); exceeding a set credit limit; or carrying a large amount of personal debt. To see a copy of your credit history and your FICO score, please see our Free Credit Report section for a review of the top services

Individuals with bad credit find it much more difficult (and often impossible) to be approved for loans, credit cards, mortgages, or even accounts with utility companies. Because approval is difficult to obtain, the individual must save more cash before being able to afford things like a house, a car, phone service, or tuition. When those with bad credit are able to gain approval for loans or other lines of credit, they can often expect higher interest rates and higher payments than those with good credit are typically afforded. The offers listed on our site provide the most favorable approval rates and terms we can find for those with a bad credit history.

The most important step to rebuilding your credit (or avoiding bad credit to begin with) is to always pay bills on or before their due date. This includes credit cards, mortgages, car loans, personal loans, medical bills, utility bills, rent, or any other financial obligation you have that may be reported on your credit history. Aside from paying bills on time, reducing your debt is also an important step in rebuilding your credit. If you owe a lot of money on credit cards, for instance, paying down those balances can help improve your credit profile. Please reference our section on Debt Relief for a list of reputable services that can help reduce your debt quickly

It is advisable to seek the help of an expert when it comes to fixing bad credit and improving your credit outlook. Though there are many such services available, it is important that you choose a service with the experience and reputation that you can trust. After all, your financial future is at stake. We highly recommend that you visit our Credit Repair section for a list of trusted credit repair services. Each service listed offers you a free consultation on fixing your bad credit, with no obligation to continue after receiving the free consultation.