As late, missed payments rise, credit card borrowers face ‘consequences’ for falling behind, CFPB says
Dr. Ann Kaplan was recently featured in an article by CNBC, providing valuable insights into the prevailing consumer debt landscape and the escalating interest rates on credit cards. In the article, Dr. Kaplan shared her expertise on the significance of credit scores and their impact on future loan applications. “Alternatively, the lower the credit score the less likely you could get approved for financing and the higher your interest rate is going to be. Already, the average credit card charges over 20%, a record high, but borrowers with lower credit scores pay even more. It’s difficult in this current economy not to have a good credit score,” said Ann Kaplan, founder of iFinance, based in Toronto.
Click here to read the full story.
Source: cnbc.com