The details in your credit report accocunts for your FICO rating

FICO Scores range between a minimum of 300 to a top of 850. The greater your score, the greater your likelihood of qualifying for a financial loan having a low interest. Loan providers look at a rating of 740 or more become exceptional.

Generally speaking, if for example the credit rating is low along with your credit history have missed or payments that are late you will probably spend an increased interest rate and APR. Continue reading