What is bad Credit?
Bad Credit is nothing but a past failure to keep up and maintain your credit agreements with the credit agencies. Bad credit more specifically is an inability to get permitted for new credit due to incompetency in maintaining good credit score in the past, that which would affect your present and future credit.
Bad credit simply means that you might have failed to pay the past credit commitments / debts on time. If you fail to pay debts on time your credit score will get affected and it leads to low credit rating. The more the scores dips it leads to ultimate bad credit. If you have bad scores for more than once then you will have a bad credit history.
Bad credit history is the records of your bad debts, meaning you might have failed to make payments on time. Because of this it become extremely difficult to get further lending from banks, financial institutions, or other lenders. Due to bad credit history, your accounts might be sent to Collection Agency, charged with high balance and filed for bankruptcy and other bad consequences. When there is bad credit, lenders will be reluctant to lend further, due to the fact that hey think that you might again fall behind in paying debts on time.