It is no secret that having a bad credit score can create obstacles when it comes to trying to take out a loan, applying for a credit card, renting an apartment, or even for employers to decide to hire you. But did you know that having a bad credit score can also be beneficial in some ways? Here are some of the advantages of having a bad credit score.

1. You become more financially aware - Having a bad credit score encourages you to take responsibility for your finances and to get an understanding of how credit works. This will help you develop financial disciplines and savvy in terms of developing and managing your credit better in the future.

2. You get rebates and discounts - Many lenders offer discounts and lower fees to borrowers with bad credit scores. Since those lenders know the likelihood of payment default is slightly higher, they opt to increase their business by offering better deals for those with bad credit.

3. You get credit counseling – You may also receive credit counseling and financial counseling in order to help you understand the best ways to improve and manage your credit and finances. This is an invaluable resource that can help you rebuild and restore your damaged credit.

4. You may be able to reduce your debt