On 27/07/2016 14:19, whisky-dave wrote:
the ones through the post seemed to have a preset APR and I wasn't aware that a APR is tailered to a person rather than a lender setting it.
They usually say 'Representative APR'
My bank says....
Quote:
Representative
Lending decisions are based on personal circumstances, so the rates we
offer may vary between customers. When we advertise our products, we use
representative rates to show what the majority of customers may be offered.
|
A bank may have already rejected potential customers with a low credit
score so they may be able to offer the headline rate to many current
customers but they must also quote higher rates to those that are a
higher risk.
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