If you have bad credit you might think that there are no benefits to bad credit. But if you look on the bright side there are benefits to everything and that includes bad credit.
Think about this.
If you have bad credit you are forced to become a better financial manager. You can?t just pull out a credit card to pay for impulse purchases. You have to pay cash. While the person with the credit card ends up getting the merchandise or lunch or whatever, they also frequently end up paying 18% interest or more on a fast food lunch from the third Thursday from three months ago. Yep, at 18% interest with a high balance it takes a long time to whittle away at that principal.
But even though bad credit forces you to become wiser with your money, prevents you from paying crazy interest for little things and whatever else, it is still an unpleasant fact for most people that large purchases require credit. Buying a car or qualifying for a mortgage often requires credit.
There are things you can do to repair your credit but being a good financial manager, to quote a famous credit card saying, is priceless.