Every lender makes its own decision about the risks it's willing to take in extending offers of credit. Your credit report dictates whether they'll provide you with credit, but also what rate you'll get.
In general, credit scores reward responsible behaviour, so if your bills are late and your balances are near your credit limits, it'll negatively impact your credit score and make you appear a higher risk to lenders.
Having a 'bad' credit score does restrict what credit products you'll be eligible for and could make getting a mortgage,
a phone contract, credit cards or loans more difficult or costly. The good news is that you can turn a bad credit score
into a good one, with time and effort.
Check your credit score and credit report for free with CreditWise.