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The term "bad credit" is used by credit reporting agencies and lenders to define a person as being a "high risk" for a loan, a credit card, the use of utilities, or even employment. Typically, a FICO score of less than 650 is considered bad credit.
Having bad credit means that negative items were reported to the credit bureaus from the various financial institutions you conduct business with. There are many types of negative credit items that constitute sources of bad credit that we will explore here including:
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