5 Ways a Bad Credit Report Can Hurt You

A bad credit report and poor credit history can do more than just affect your ability to get a loan.

Credit report with a "bad" score of 540 on a desk.
(Image credit: Getty Images)

A bad credit report or low credit score can make it tough to borrow money. Dings on your credit report, like late or missed payments, can hurt your credit score. The lower your credit score, the more of a risk you’re considered to be. And the riskier borrower you are, the more you will pay in interest — if you can get a loan at all.

By tracking and keeping a score in the good range or better, consumers may qualify for one of the best rewards credit cards or other types of loans. 

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Cameron Huddleston
Former Online Editor, Kiplinger.com

Award-winning journalist, speaker, family finance expert, and author of Mom and Dad, We Need to Talk.

Cameron Huddleston wrote the daily "Kip Tips" column for Kiplinger.com. She joined Kiplinger in 2001 after graduating from American University with an MA in economic journalism.

With contributions from