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FQAs about Bad Credit

Question If you are among the millions of Americans with bad credit, you probably have many questions about what "bad credit" means and just how much it can impact your life. See below for the most common questions we are asked about the subject, along with answers that can help you better understand your credit outlook. If you would like to learn more than what's covered below, be sure to visit our Tips and Advice for Bad Credit section and join our newsletter on the menu to your left. Feel free to contact us if there is a question you think should be answered below.

What is bad credit?

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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

How does bad credit affect me?


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.

How can I rebuild bad credit?


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

Where can I get help for bad credit?


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.

Is a lender or loan provider??

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No. is neither a lender nor a loan provider. In fact, we are not a financial institution of any kind. We merely provide information about various loan offers and providers as a service to help our users find the best loan for them.

What fees will I be charged for a loan?
What is the annual percentage rate (APR) for a loan?
What if I am late or fail to make a payment on a loan?
What is the renewal policy for a loan? does not establish the rates, fees or terms and conditions for the loans featured on the site. When you click on a loan offer on our site, you will be taken to the lender’s site where all of such information must be provided to you per the requirements of state and federal law. Please be sure to carefully review the rates, fees and terms and conditions applicable to a loan before agreeing to accept the loan. You are under no obligation to accept any loan offer on our site and you can exit the process at any time. If you have any questions regarding the fees, rates or terms and conditions applicable to a particular loan, please contact the loan provider.

If you have any questions, please contact us at:
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Suite 100
Los Angeles, CA 90025

Learn About Bad Credit

Learnicon Want to learn more about bad credit and the steps you can take to improve your financial future? See this section for articles from featuring tips, advice, and other information for people with bad credit.
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Get Answers to Your Questions

Question Millions of people have bad credit, but what exactly is bad credit? And what can be done about a bad credit history?  Visit our FAQs section to gain a better understanding of bad credit and its impact on your finances.  
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Learn the Terminology

Glossary11 What does "APR" mean? What is the difference between Chapter 7 and Chapter 13 bankruptcy? The credit industry uses terms that we do not hear in everyday conversation, but that are important to understand nonetheless.
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