What is a Bad Credit and How it affects Credit Cards?
Bad credit can make it harder to get credit cards with desirable limits and rewards like travel or cashback . A Credit card issuers use credit scores to evaluate a borrower's creditworthiness, so having bad credit can limit options and make it difficult to qualify for certain cards. We'll explain what bad credit is and how it affects credit cards. What is B ad credit? Bad credit refers to a credit history that includes missed payments, defaults, or late payments on debts. It also includes high credit card balances, bankruptcies, foreclosures, or any other negative marks on your credit report. Bad credit can make it hard to get credit and affect your finances long-term. How Does Bad Credit Affect Credit Cards? Having bad credit can make it hard for consumers to obtain a popular form of credit, such as a credit card. Credit card issuers use your credit score to determine your creditworthiness and assess the risk of lending to you. When you have bad credit, credit card issuers co...