People
with deep subprime credit scores have very limited options when seeking credit.
Not exact matches
About a third of those
with scores between 351 and 500 — considered
deep subprime by VantageScore — will see a change in their score.
A consumer who has «
deep subprime credit» is someone
with a credit score equal to 600 or below.
Moreover, Experian reported that in the fourth quarter of 2012, lenders increased auto loans to borrowers identified as
deep subprime,
with credit scores below 550, by 31 % year over year.
The reason that information is promising is because people
with subprime and
deep subprime credit ratings don't generally land the lowest auto loan rate s.
CarHop sells vehicles primarily to customers
with nonexistent or poor credit histories in need of
subprime or
deep subprime credit.
About a third of those
with scores between 351 and 500 — considered
deep subprime by VantageScore — will see a change in their score.
A closer look shows a more startling statistic: 47.9 percent of the debt is carried by 393,000 residents
with subprime and
deep subprime credit.
Everyone on this chart began 2015
with a score below 500 (
deep subprime).
We're seeing credit scores that are increasing against control groups, we're saving customers millions of dollars, hundreds of thousands of customers have taken over one million of our financial literacy courses, and,
with our growing credit card platform, we're continuing to meet the needs of borrowers
with subprime and
deep subprime credit scores.