If you spend sometime at answers yahoo com in the 'Credit' section you will see that most of the questions asked are about bad credit. It seems like most people in this country have problems with their credit score.
What credit is bad credit?
The widely used scale is the FICO system. Here it is:
Excellent Credit - 750-850
Good Credit - 660-749
Fair Credit - 620-659
Poor Credit - 350-619
No credit - 0
So, what is bad credit? I would say that anything below 660 is bad. Of course, fair credit is slightly better than poor credit but it won't allow you to get best credit card deals and will make you pay higher rates and fees for your credit cards.
Why is your credit score so important? Even if are not planning to apply for a credit card there are good reasons to check your credit report regularly. First of all, whenever you decided to borrow money - get a mortgage loan, etc - the lender will consider your credit score. You landlord might be interested in it, too. Even your boss might check your credit report if you are considered for promotion because bad credit history portrays you as an irresponsible person.
Of course, no matter how bad your credit is, you can always get a bad credit credit card . But I will strongly advise to wait and rebuilt your credit history first.