It seems that Michael Jackson’s hit song Bad from the Dangerous album really did have some truth to it – at least when it comes to the credit-world.

TMZ reported that in 2007, Jackson’s average credit score was 563.57 (Equifax 592, Transunion 524, Experian 575) which is considered to be a very bad score amongst experts.  In fact it got so bad, that Barneys New York shut down his credit line after it hit more than $224,000 in one billing cycle according to the credit report.

According to TMZ, Jackson’s credit issues derived from a number of damaging factors including:

• A derogatory public record or collection filed
• The amount owed on delinquent accounts
• Number of accounts with delinquency
• Too many inquiries in the last 12 months

This is a prime example of how poor credit practices can affect the credit scores of all people, regardless of wealth.

Tags: Credit Score