Why Poor Credit Cost Me More Money Than Rich Individuals

By [Ignatie Brand]

If you've ever had poor credit, you know the pain runs much deeper than just a low number on a report. Poor credit affects everything including  your housing, your transportation, your ability to build wealth, and even your peace of mind. I learned the hard way that having poor credit costs more, a lot more than it does for someone who’s already financially stable. It’s a vicious cycle that punishes you for trying to survive.

In this blog, I want to take you on a journey through the real costs of poor credit, the emotional and financial stress it brings, and how an eye-opening ebook by personal growth coach Quana Frasier changed the game for me and others like me.

The Real Cost of Poor Credit

Let’s get something clear: poor credit is expensive. If you’ve been living paycheck to paycheck, stuck in a 9-5 job you hate, and can barely breathe under the weight of your bills, you're not alone. But while the rich enjoy perks like low interest rates, higher loan approvals, and exclusive financial opportunities, poor credit locks you out of that world and then kicks you while you're down.

Here are some of the most brutal realities of poor credit that people don't talk about enough:

1. Higher Interest Rates

I remember being 28, single, and applying for a used car loan. My credit score was in the low 500s. The bank approved the loan but at a 21% interest rate. That meant I paid thousands more over time than someone with a better score. Meanwhile, a 40-year-old man I worked with got a car loan at 3.9%. His payments were half mine for the same car model.

That’s what poor credit does: it makes everything cost more, even the same exact product.

2. Paying More for Rent

Landlords don’t want to rent to people with poor credit. I was denied multiple times despite having a steady job and references. The places I did get approved for? Overpriced, outdated, and in neighborhoods I didn’t feel safe in.

Take Kayla, a 32-year-old single mom with a credit score of 570. She was forced to pay $300 more per month than her coworker for a smaller apartment, just because her credit wasn’t “good enough.” Landlords see poor credit as risky, so they charge more or make you jump through more hoops.

3. Deposits on Everything

With bad credit, you don’t just pay more, you pay upfront. Deposits for utilities, cell phones, internet, and even furniture rentals are significantly higher. It's a cruel reality when you're already struggling to keep your head above water.

Imagine being Marcus, a 26-year-old part-time worker. He was required to put down $500 for a security deposit on electricity alone just to move into a new place. That’s money that could’ve gone to groceries, gas, or savings.

4. Limited Financial Freedom

When you have poor credit, the banks don’t trust you, and employers sometimes don’t either. I was passed up for a better paying job simply because the employer ran a credit check.

Poor credit isn’t just a financial stain, it’s a professional red flag. You're stuck in low paying, high stress jobs, even when you're qualified for more.

5. Living Paycheck to Paycheck

Without access to better financial tools, people with poor credit rely on payday loans, high-interest credit cards, or borrowing from family (again). The cycle continues. You can’t save, can’t invest, and definitely can’t plan for the future. One emergency, one flat tire, or missed shift can send everything spiraling.

The Emotional Toll No One Talks About

Beyond the financial burden, poor credit is mentally and emotionally draining. It keeps you awake at night. It kills your confidence. It makes you feel like you’re always behind, always hustling, and never getting ahead.

I used to avoid checking my bank account. I’d panic whenever my phone rang, thinking it was a debt collector. I skipped social events because I couldn’t afford gas or food. That’s the reality for millions—but it doesn’t have to be forever.

Learning from the Pain

This was my breaking point and also the turning point.

That’s when I came across an ebook by Quana Frasier, a personal growth coach who gets it. She didn’t talk down to me. She spoke to me like someone who understood the weight I was carrying. Her ebook isn’t filled with vague advice or guilt-tripping affirmations. It’s a straight-up blueprint for rebuilding your financial life from the inside out.

What Can Be Learned from Quana Frasier’s Ebook? 

While I won’t give away the contents (you need to experience it for yourself), I can say this:

• It helps you understand how credit works—and how to make it work for you
• It breaks down habits that keep you stuck—and how to replace them
• It opens your eyes to opportunities you didn’t know were accessible
• It gives real, actionable steps to improve your score, manage your money, and grow your confidence

Quana doesn’t just focus on the money—she focuses on you. The mindset, the behaviors, and the healing you need to build lasting stability.

Your Financial Struggles Don’t Define You

If you’re stuck in that 9-5 grind, working hard and seeing little return, constantly behind on rent, or being denied opportunities—you are not alone. But you don’t have to stay there.

Poor credit may have cost me more in the past but knowledge, growth, and the right guidance helped me start changing that. And if you're ready to stop letting poor credit steal your future, Quana Frasier’s ebook is where you start.

You’ve spent enough money on high interest, late fees, and emergency loans.

It’s time to invest in yourself.

Ready to shift your financial future?
Grab the ebook by personal growth coach Quana Frasier and take the first step toward real financial stability.