For some people entering into debt is a bit like playing Russian roulette. The bullet may or may not fire, it may or may not end the game. Whereas it may be exciting to live on the edge, it may have devastating consequences.
How is your credit rating determined? Your Credit Bureau score is calculated using a formula that evaluates how well or how badly you pay your bills, how much debt you carry and how all of that stacks up against other borrowers. The lower your scores, the less you stand a chance of obtaining a loan or other financing.