Bad Credit was a comedy hip hop duo based out of San Diego, California which lasted from 2002 to 2008, fronted by musicians and comedians Matthew Gorney and Dallas McLaughlin.
What is a ‘Bad Credit’
Bad credit describes an individual’s credit history when it indicates that the borrower has a high credit risk. A low credit score signals bad credit, while a high credit score is an indicator of good credit. Creditors who lend money to an individual with bad credit face a greater risk of that individual missing payments or defaulting than creditors who lend to individuals with good credit. Next Up Good Credit FICO Score Credit Mix Credit Rating
Explaining ‘Bad Credit’
An individual’s credit history is dependent on a number of factors, including the amount owed, the amount of available credit and the timeliness of payments. An individual may have bad credit if he does not make timely payments or has defaulted on a loan during a period of time. Having bad credit makes it more difficult or costly to obtain loans, such as mortgages, from financial institutions.
How Credit Scores Are Determined
In the United Scores, the Fair Isaac Corporation (FICO) calculates credit scores. Using information from the three credit bureaus, Experian, TransUnion and Equifax, FICO weighs various information in strategic ways to calculate the score.
Credit Scores That Indicate Bad Credit
FICO scores range from 300 to 850. Traditionally, borrowers with scores at or below 579 have bad credit. According to Experian, 61% of borrowers with scores in this range are likely to default or become seriously delinquent on their loans in the future.
- Good and bad credit contagion: Evidence from credit default swaps – www.sciencedirect.com [PDF]
- The color of money: Bad credit, wealth, and race – journals.sagepub.com [PDF]
- Bad credit, no problem? Credit and labor market consequences of bad credit reports – onlinelibrary.wiley.com [PDF]
- Good credit ratios, bad credit ratings: the role of debt structure – link.springer.com [PDF]
- Juvenile delinquent mortgages: Bad credit or bad economy? – www.sciencedirect.com [PDF]
- Optimal ordering policies for a retailer who offers distinct trade credits to its good and bad credit customers – www.sciencedirect.com [PDF]
- Consumers' use of credit cards: store credit card usage as an alternative payment and financing medium – onlinelibrary.wiley.com [PDF]