Getting a very bad rating on your credit report can be one of the worst things that can happen to you.
Once you have a bad rating on your credit card, then you will definitely have a very difficult time ahead.
You will find it very hard to make any financial goals possible.
The attitude of any banks, credit card companies or any other creditors towards you can be very embarrassing.
All the creditors consider it wise and safe not to give a loan to a person having a bad credit.
This is because, if you have a bad credit score, it shows that you are not a financially sensible or responsible person.
Even if some creditors or banks provide you with a loan, they will provide it only at a very high rate of interest.
The interest rate of a person with a bad score can't be compared to that of the ordinary loans.
Again, you will never be issues a credit card if you are having a low credit score.
The credit card companies are also against offering such individuals with a credit card.
This is because they have a very low possibility of paying back the credit payments on a timely basis.
So, if you ask me how bad a credit rating can be, I will have to tell you it is going to be really bad.
You will be denied all the financial freedom that other people enjoys.
So it is always better to stay away from a bad score on your credit report at any cost because if you are caught in this scam, it is almost impossible to get your credit report better.