Which of the following are more likely to happen if you have bad credit? Check all that apply.being denied a mortgagebeing denied an unsecured credit cardhaving to pay higher interest rates on loansgetting a great interest rate on a car loanhaving a strategy for dealing with a financial emergency
Answer
A
being denied a mortgage
B
being denied an unsecured credit card
C
having to pay higher interest rates on loans
D
getting a great interest rate on a car loan
E
having a strategy for dealing with a financial emergency
Explanation
Bad credit can make lenders view you as a higher-risk borrower. As a result, you may be denied a mortgage or an unsecured credit card, or be charged higher interest rates on loans. A great car-loan rate and having an emergency strategy are not consequences of bad credit.
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