The True Cost Of Bad Credit

I am often asked the question; What does bad credit cost me??
It is a hard question to answer because of the individual?s circumstances and the fact that lenders are competing fiercely for customers.
But I will give it my best shot.
Mortgages
If you know your credit score you will be in a position to make a pretty good guess at what interest you will be charged on a mortgage. In today?s (March 2006) market, mortgage rates for those in the top or prime category, with a score above 720, will pay around 6.25%.
As your score declines your rates will increase.
For those in the second tier, with a score between 700 and 720, rates will go up to around 6.38%; for those in the third tier, with a score between 675 and 699, rates will be about 6.91%; for View the rest of this article