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Of the following statements, which one or ones indicate possible effects of a low credit score? I. You will have a difficult time qualifying for loans. II. Any loans you take out will be relatively short-term. III. You will have to pay higher than average interest rates. a. I only b. I and II c. III only d. I and III

Deborah Edwards

in Business

1 answer

1 answer

Jeremy Wood on March 3, 2018

When you have a low credit score there are many things that can have an effect on their loan agreements. Normally, you will have a hard time to qualify for the loans. Due to their low credit score, it shows that you have problems to pay for the items that you have that makes it hard for other lenders want to give loans, you could lose. You also normally pay higher than average interest rates. When you have bad credit and do not pay for articles again correctly lenders that will approve you for a loan will often provide you with a high interest rate, because they are afraid to lose big time if you stop paying. You are a risk for the lenders to move forward with the loan so they try to cover themselves in case it happens. Answer: D. only I and III

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