7 Signs you have Bad Credit

It is important that you know the telltale signs of bad credit so you can recognize them instantly. A lot of people have very bad credit and they don’t even realize it. Your credit score can have a massive impact on many things in your life, so you will therefore want to know what some of the biggest signs of bad credit are. The more of this information you get, the better of a position you will be in to help yourself.

1. You get Denied for a Loan

There is no doubt that getting denied for a loan is definitely a sign that your credit is in bad shape. While some lenders have higher standards than others when it comes to the credit scores of applicants, it is important for you to keep in mind that this is still a sign that you should be aware of. Those who have a good credit score typically don’t have much trouble when it comes to getting a loan.

2. You can’t get your Credit Card Issuer to Lower your APR

If your credit card issuer has flat out refused to lower your APR or raise your limit, you will definitely want to take a long hard look at your credit. A lot of people with bad credit end up in this situation, and it can definitely be disconcerting. The fact is that most credit card issuers are hesitant to lower the interest of anyone with bad credit.

3. Your Issuer Closes your Credit Card

Sometimes credit card issuers conduct reviews of customer accounts, and if they see that your credit bad enough they might actually close your credit card entirely. Chances are if this has happened to you, it’s likely that your credit score has sunk fairly low. If your credit score goes low enough, this might happen.

4. A Debt Collector Contacts you

Most people with bad credit get contacted by a debt collector at some point because they owe money on an account. If you have any outstanding debt, you can definitely expect to receive phone calls and letters in the mail requesting that you take care of your negligent account.

5. You get a Default Notice

If you receive a default notice or even a subpoena from a creditor, it is likely that your credit could definitely use some improving. If you have actually received a legal judgement from a creditor, you are probably already in default, which means that your credit has been negatively affected. Creditors typically only send out these notices if someone has defaulted on a loan or something else they were supposed to pay.

6. You have started receiving Subprime Credit Offers

Another sign that your credit is in the toilet is that you have started receiving offers for subprime mortgages, which are specifically for those with bad credit. Many people whose credit scores fall low enough begin receiving these offers in the mail or via email, so you will need to keep that in mind as well.

7. You put a Deposit down on a Utility Account

While lenders do pull your credit when you are applying for a guaranteed payday loan, cellphone providers and utility companies do this as well. These companies sometimes look at versions of your credit scores so they can determine whether or not to allow you to purchase their services. If you are required to pay fees or you are offered very high rates, it’s probably because your credit score is so low. Those who have good credit are rarely asked to pay these kinds of fees.


There are plenty of different signs that you don’t have very good credit, and being able to recognize them will help you to improve your situation over time. It is very important that you make a conscious effort to raise your credit score as much as possible so that you don’t find yourself in a situation where you are always getting turned down for loans and whatnot. These signs can prevent your credit score from sinking even lower over time, which is something that you will definitely want to avoid. In the end you will be glad you made yourself aware of all these signs.

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