A good credit rating will only be attained if you are responsible and diligent enough to pay your bills and accountabilities on time. But if you are the opposite, then most likely you will acquire bad credit rating. Your scores are based on the manner of your payment abilities. Many creditors have taken this for granted, though they are financially capable, negligence and disorganized files will make you forget your financial priorities. Delayed payment of bills and a default or CCJ can badly affect your credit ratings. There are ways to repair your bad credit rating, depending on how worse the case is. Your good credit rating will be your gateway to another application for loans. Good credit ratings are favorable for money lenders; but are wary for ineffective borrowers.