False. A low credit score means you will have to pay more interest when you borrow money. But you can raise your credit score. By paying your bills on time (more than the minimum due, if possible) and reducing your debt, you can slowly but surely improve your credit score and become more financially stable. Two other tips: Try not to open a lot of new accounts in a short period of time, and try to pay off your credit card debt rather than moving it around to other cards. If you have multiple credit card accounts open and you want to close one or more, be sure to look at your overall financial situation before doing so.