There are a number of factors that will effect the credit card rates you will be offered by credit card providers. Credit card providers never offer the same credit card interest rate to all of their customers, but using complex calculations of risk assessment and credit worthiness, they set a number of different rate bands, and then place each applicant for credit in the appropriate rate band depending on the factors they used. The main method they use to assess the rate they wish to place you at is your credit score. This is a rating calculated by credit reference companies and is based on factors such as:
-> Your Income
-> The length of time youve held your job
-> The length of time youve lived at your present address
-> The value of your home
-> Whether you own or rent your home
-> The amount you currently owe
-> Whether or not you pay your bills on time and in full.
There are other factors too that will be taken into account. These will all be added up to paint an overall picture of you and your financial habits and health. If this score is then deemed to be good, you will fall into one of the lenders low risk bands and...
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