Sentences with phrase «poor resulting in higher interest rates»

A credit score above 700 is considered good while any score below 600 would be considered poor resulting in higher interest rates.

Not exact matches

Specifically, Defendants made false and / or misleading statements and / or failed to disclose that: (i) the Company was engaged in predatory lending practices that saddled subprime borrowers and / or those with poor or limited credit histories with high - interest rate debt that they could not repay; (ii) many of the Company's customers were using Qudian - provided loans to repay their existing loans, thereby inflating the Company's revenues and active borrower numbers and increasing the likelihood of defaults; (iii) the Company was providing online loans to college students despite a governmental ban on the practice; (iv) the Company was engaged overly aggressive and improper collection practices; (v) the Company had understated the number of its non-performing loans in the Registration Statement and Prospectus; (vi) because of the Company's improper lending, underwriting and collection practices it was subject to a heightened risk of adverse actions by Chinese regulators; (vii) the Company's largest sales platform and strategic partner, Alipay, and Ant Financial, could unilaterally cap the APR for loans provided by Qudian; (viii) the Company had failed to implement necessary safeguards to protect customer data; (ix) data for nearly one million Company customers had been leaked for sale to the black market, including names, addresses, phone numbers, loan information, accounts and, in some cases, passwords to CHIS, the state - backed higher - education qualification verification institution in China, subjecting the Company to undisclosed risks of penalties and financial and reputational harm; and (x) as a result of the foregoing, Qudian's public statements were materially false and misleading at all relevant times.

Even though many students look forward to such things, having poor credit will result in higher prices and interest rates.

Generally speaking, a better credit history will result in a lower interest rate on the loan, whereas a credit history with past due payments, previous defaults, and collections will often lead to a higher interest rat, to offset the lender's increased risk in offering credit to a borrower with poor credit.

A poor credit history or low credit score makes you a high - risk borrower and typically result in higher interest rates, whereas additional history and an increased score could potentially result in a refinance with a lower rate.

A poor credit score will result in a higher interest rate leading to thousands of extra dollars in interest expense over the life of a loan.

Keeping up with your credit is important, since a poor credit report can result in higher interest rates on loans, and can even lead to you paying more for different financial products and services, including paying higher insurance premiums.

Additionally, the program does not correlate interest rates with scores, meaning a good score will not result in a better rate, and a poor score will not result in a higher rate.

On the other hand, having poor / limited scores for either will greatly reduce any opportunities with the SBA, or result in much higher interest rates.