Why Having Bad Credit Costs You More Than You Think
When people hear “bad credit,” they often think it just means you’ll get denied for loans or credit cards. But the real truth is this: bad credit costs you a lot of money — every single month. In this article, we’ll break down exactly how much and why fixing your credit isn’t optional… it’s urgent.
1. What Is Considered “Bad Credit”?
In the U.S., your FICO credit score ranges from 300 to 850.
Excellent: 750+
Good: 700–749
Fair: 650–699
Poor: 600–649
Very Poor: Below 600
If you’re in the poor or very poor range, you’re not just facing loan rejections — you’re paying more for everything.
2. Real Cost Example: Auto Loan
Let’s say two people buy the same car — a $25,000 vehicle — but one has great credit and the other has poor credit:
INTEREST RATES COMPARED
🔻 That’s an $10,920 difference — just because of credit.
3. Credit Cards = Double the Trouble
If you have bad credit, your credit cards may have APRs between 25% and 36%.
Someone with good credit could have rates under 15%.
That means a $5,000 balance could cost you hundreds more per month in interest alone.
4. Rent, Utilities & Cell Phones
Bad credit doesn’t just hurt you with banks. Landlords and utility companies may:
Ask for larger deposits
Deny your application
Require a co-signer
Even something as basic as a phone line can be a problem.
5. Even Your Car Insurance Gets More Expensive
Insurance companies check your credit. A lower score = higher risk = higher insurance premiums — even if you’ve never had an accident.
Conclusion: Bad Credit Is a Financial Trap
When your credit is bad, everything in life becomes more expensive. And most people don’t even realize it — they just keep paying more and thinking it’s normal. But it doesn’t have to be.
At Scuderia 800, we help you fix your credit the right way, and give you access to Club 800, where we share insider financial hacks, tools, and support to help you build a powerful financial future.
📩 Ready to stop overpaying for everything?
Text us today and let’s start working on your credit.
With Scuderia 800, your financial comeback starts now.
