Ask Experts Questions for FREE Help !
Ask
    lwright1251's Avatar
    lwright1251 Posts: 1, Reputation: 1
    New Member
     
    #1

    Apr 28, 2008, 09:07 AM
    Credit Score Vs. APR
    Please advise as to how credit scores effect APR. :) Thank you.
    progunr's Avatar
    progunr Posts: 1,971, Reputation: 288
    Ultra Member
     
    #2

    Apr 28, 2008, 09:12 AM
    The lower your score, the higher risk you are considered.

    If the risk is higher, the apr will be higher.

    If the creditor feels they are taking a higher risk with the loan, then they need to compensate that risk with a higher return from that loan.

    Hope that is what you were looking for?

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Credit Counseling bad for credit score? [ 4 Answers ]

We've managed to pay our many bills, but it has really been hard. We've thought about a credit counseling service yet were advised that it can hurt your credit as much as bankruptsy does. Recommend or not?

Credit score [ 2 Answers ]

Hi I have a bad credit score.. I am tiring to repair my score.. and I want to buy a house.. . is it possible to buy a house Thanks!

FICO Credit Score: Maintain a 50% debt to credit-limit ratio on _each_ card? [ 1 Answers ]

I have been advised that I should transfer part of a balance of one credit card to another card in order to maintain 50% debt to credit limit ratio on _each_ card even though my _total_ debt to credit limit ratio is already below 50%. (Most of the debt is on one card for convenience.) I could...

My brother's credit debt harming my credit score! [ 2 Answers ]

Just some background information- my brother has many, many debts. (he is a lawyer that just never succeeded and has no real work ethic) So he uses my father's credit cards, pays the minimum amount every month, and he basically lives off my father's credit cards for all of his expenses. My brother...

Credit Score... [ 4 Answers ]

Someone might have asked this question, but there are so many posts that I couldn't go through them all. My question is: How many points does one's credit score go down, after, let's say a bank or a car dealer check the credit to see if you qualify? :confused: Thanks in advance.


View more questions Search