Sentences with phrase «subprime category of»

Borrowers in the subprime category of 550 to 620 didn't fare much better, except in credit card rates, where they might pay 19.8 %.

Not exact matches

For the last seven years car loans have outpaced nearly all lending categories; but with fewer loan options and the prospect of higher interest rates, subprime borrowers will continue to avoid new car purchases.

Scores below 580 are indicative of a consumer's poor financial history, which can include late monthly payments, debt defaults, or bankruptcy; individuals in this «subprime» category can end up paying auto loan rates that are 5 or 10 times higher than what prime consumers receive, especially for used cars or longer term loans.

The first two months of 2018 showed a 9 percent decrease in new car sales to those in the subprime lending category.

FICO ® Scores (the credit - risk scoring system lenders use) of 620 or lower will usually place you in the «subprime» category where you may receive loans quoted with significantly higher interest rates and may be offered fewer varieties of loans.

Of 28.4 million «credit - active» Canadian consumers, 11.9 per cent fall into the subprime category, according to estimates from TransUnion, one of the country's two credit - reporting agencieOf 28.4 million «credit - active» Canadian consumers, 11.9 per cent fall into the subprime category, according to estimates from TransUnion, one of the country's two credit - reporting agencieof the country's two credit - reporting agencies.

A 2017 report from the Consumer Federal Protection Bureau (CFPB) shows that cash back cards are more popular than miles - based cards for consumers across all categories — superprime, prime, near - prime, subprime and deep subprime — constituting 27 percent of overall credit card spending, compared to 21 percent for miles rewards cards.

A 2017 report from the Consumer Federal Protection Bureau (CFPB) shows that cash back cards are more popular than miles - based cards for consumers across all categories — superprime, prime, near - prime, subprime and deep subprime — constituting 27 percent of overall credit card spending, compared to 21 percent for miles rewards cards.

A 10 percent increase in student loan debt causes a 0.6 percentage point increase in the probability that the borrower falls into the subprime category (credit score of 620 or less) and a 0.8 percentage point increase in the probability that a borrower falls into deeply subprime (500 or less).

Additionally, that 10 percent increase in student loan debt increases the probability that a borrower falls into the subprime category (a credit score of 620 or less) by 0.6 percent.