Question

which of the following are more likely to happen if you have bad credit? check all that apply. being denied a mortgage being denied an unsecured credit card having to pay higher interest rates on loans getting a great interest rate on a car loan having a strategy for dealing with a financial emergency

Explanation:

• being denied a mortgage: Lenders assess creditworthiness for mortgages. Bad credit means higher risk, so denial is likely.
• being denied an unsecured credit card: Unsecured cards rely on credit history. Bad credit makes approval hard as there's no collateral, so denial is probable.
• having to pay higher interest rates on loans: Lenders charge more for higher - risk borrowers (those with bad credit) to offset potential default.
• getting a great interest rate on a car loan: Great interest rates are for good - credit borrowers. Bad credit leads to higher rates, not great ones, so this is incorrect.
• having a strategy for dealing with a financial emergency: Bad credit doesn't directly relate to having a financial emergency strategy; this is about financial planning, not credit consequences.

Answer:

• being denied a mortgage
• being denied an unsecured credit card
• having to pay higher interest rates on loans