GRANT DISABLED
If, for whatever reason, you don't make timely payments to a creditor or miss a payment, your creditor reports this to the credit bureau, and it is added to your credit report. If you do this too often, or default on a loan, you will have a bad credit rating and a low credit score. Once you have a bad credit rating, many doors will be closed to you: you will be unable to obtain most kinds of loans, and without a credit card you won't be able to shop online, or rent a car or do many of the other things you have grown accustomed to doing. grant disabled
For these reasons it is important that you protect your good credit rating. However, if misfortune causes a change in your circumstances and your credit worthiness becomes an issue, you should begin your credit repair as soon as possible.