Since the creditor doesn't expect you to carry a balance for long, the interest
rates charged by the average
credit card are often 16 % - plus for even those with excellent
credit and can range
beyond 30 % for those with
poor credit.
This exemption allows you to request insurance carriers not to use your
credit score when calculating your
rate, if you can show that your
poor credit was caused by specific circumstances
beyond your control, such as serious illness, divorce, unemployment, and similar life catastrophes.