Subprime rates are higher-than-normal interest rates offered to a less-than-perfect credit applicant.

Name: Subprime rates are higher-than-normal interest rates offered to a less-than-perfect credit applicant.
Brand: Quizplus
Rating: 4.7 (57 reviews)

Question

Quizplus · Accepted Answer

This statement is true, subprime rates are specifically designed for individuals with lower credit scores or a history of credit problems. The higher interest rate reflects the increased risk of lending to these individuals.

Subprime Rates Are Higher-Than-Normal Interest Rates Offered to a Less-Than-Perfect