Warning signs of bad credit you should not ignore

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Credit Card Applications » Research » Guides » Building Credit History » Warning signs of bad credit you should not ignore

Warning signs of bad credit you should not ignore


Updated: December 26, 2012

The content is accurate at the time of publication and is subject to change.

Getting into the bad books with the credit bureau can prove to be very costly in the long run. Bad credit can hurt you more than you ever imagined. Not only will you face rejection when you apply for credit cards and loans, you may not even find an apartment to rent or a job that can help you stay afloat. However, bad credit history does not hit you overnight. There are many warning signs of bad credit well before things go out of hand. It is these signs you need to keep an eye out for and take stringent action the minute you realize your folly.

Credit card lenders deny your application form

This is the first evident sign of bad credit. Most credit card lenders are willing to offer credit cards to applicants who have at least a fair credit score. However, for those who are well below the mark, the forms get rejected. If any of your recent credit card application forms have not been approved, it is time to review your credit report.

Debt collectors call you often

If you have defaulted on your credit card payment, mortgage or loan payment, you are sure to receive calls from debt collectors asking you to pay your outstanding dues. Even one call from them should serve as a warning sign that not all is well in your financial world. It is time for you to take strict measures to reestablish financial well-being.

Employers deny you the job at the last minute

If you have successfully cleared the interviewing process, and waiting for your appointment letter eagerly, it is going to be disappointing if you are told you did not get the job. Before you think it is because of your ability and skill set, it is important to look at your credit history. Many potential candidates with good skills are rejected due to bad credit. So, sit up and tighten your belts to improve your credit score.

Landlords deny renting an apartment

Finding an apartment of your choice can be a tough task. It is very disappointing if you have spent days looking for an apartment and finding the right one, just to be told that it cannot be rented out to you. Landlords are apprehensive about people with bad credit paying their rent on time. Hence, most of them are not willing to take the risk. Warning bells should go off in your mind, prompting you to change for better.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
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