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How can credit scores affect you?

By Derek Brown
Published: Friday, October 2nd, 2009

Low credit scores would not only hamper your chances of getting home or car loans but also will make loans expensive if you manage to get one. People with low credit scores are considered as risky borrowers by lenders and so they rent out loans at higher rates and you end up paying huge installments at the end of the day. In fact credit scores are inversely proportional to credit loans and with good credit scores you may end up paying huge installments. Now a days even insurance rates are being fixed on the basis of your credit history and it has been a great matter of concern among consumers.

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