Dear Donna, welcome to healthcare magic.
If you mean by the iron level (the hemoglobin concentration), the level three is extremely dangerous. You may collapse suddenly if you have some exertion. You must be vigorously treated in two directions: first to stop iron loss by stopping the bleeding, second to replace the defective iron and replenish your iron stores. Before all this you should have an iron study and hemoglobin electrophoresis
, to exclude other causes of anemia
I hope these words were useful to you.
Dr. Ahmed Bahaa.