Bad Credit

Business, Legal & Accounting Glossary

Definition: Bad Credit



Full Definition of Bad Credit


A negative rating from the credit reporting agencies. Many factors can contribute to someone getting a “bad credit” rating, among these are non-payment of an account or late payments over an extended length of time. Whether non-payment of an account is willful or due to financial hardship, the result can be the same, a negative rating. However, lenders are more willing to work with individuals if the person contacts the lender to let them know they are having problems meeting their commitment to pay.


Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/bad-credit/
Modern Language Association (MLA):
Bad Credit. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. November 29, 2020 https://payrollheaven.com/define/bad-credit/.
Chicago Manual of Style (CMS):
Bad Credit. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/bad-credit/ (accessed: November 29, 2020).
American Psychological Association (APA):
Bad Credit. PayrollHeaven.com. Retrieved November 29, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/bad-credit/

Definition Sources


Definitions for Bad Credit are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 18th April, 2020 | 0 Views.