Then your history suggests that you’re not as reliable as your lender would like you to be when it comes to paying back the money you owe if you have bad credit. Bad credit implies that you are at greater risk of falling behind on the repayments, which means you are less likely to want to get a deal that is good a home loan, charge card, individual finance, and much more. Your credit score may also impact your capability to use for a phone that is mobile or insurance coverage for the vehicle.
Having said that, if you no credit, then there is nothing to express that you’dn’t spend your loans right back on time. But, there is no proof to declare that it is possible to be trusted either. Your loan provider has absolutely nothing to base their choice on, as more of a risk than someone with a more significant credit history so they must treat you.