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il63 [147K]
3 years ago
8

How does a low credit score affect a person who applies for a loan?

History
1 answer:
Sveta_85 [38]3 years ago
8 0

Answer:

A low credit score indicates to lenders that you are a high-risk borrower and they may not be willing to lend you money. ... Loans of this type are known as “subprime loans.” Even though they usually come with a higher interest rate, they can help you consolidate debt and pay off credit cards.

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