Final answer:
A bad credit score may affect one's ability to acquire loans, credit cards, and impact certain employment opportunities. It affects potential loan interest rates. However, it does not affect general interest rates which are determined by economic conditions and the Federal Reserve.
Step-by-step explanation:
A bad credit score may affect a variety of aspects in a person's life including their ability to acquire loans, credit cards, and sometimes even employment. It affects the interest rates on potential loans, as a borrower with a history of late payments may be deemed riskier to lend to. However, a bad credit score would not affect interest rates in general. General interest rates are typically determined by the economy and the Federal Reserve, effectively independent of individual's credit scores.
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