Obtaining a good credit score is fairly easy. You just have to take the time to nurture it or else your credit score will drastically fall. And when that happens, it can take years until you improve your credit score. A good credit score is important since it allows you to buy a car, home and more. A bad credit score means you didn’t keep up with your credit agreements and now you can’t get approved for any new credit. If things get really bad, your accounts can be sent to a collection agency, charged extra interest and it might even lead to having your vehicle repossessed. Here are a few reasons why people may have bad credit:
1. Failing to pay their bills on time
Your credit card bills have a certain date when they must be paid. If they’re not, they’re considered late. Too many late credit card payments can impact your credit score and send it to the negative.