Lenders charge higher interest and fees for riskier loans or riskier borrowers, evaluating creditworthiness based on the type of credit, past credit history, and expected ability to repay the loan.

Authors

• Person: Not available Organization: Council for Economic Education
  6 Core Areas of Personal Finance | CEE

Sources

• 6 Core Areas of Personal Finance | CEE www.councilforeconed.org Council for Economic Education via serper

Referenced by nodes (2)

• credit history concept
• creditworthiness concept