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One of the unfortunately frequent causes of low credit scores is also identity theft. ID theft has been growing rapidly over the past years and despite constant battles to prevent and stop it will surely never go away. There are plenty of ways you can get your identity stolen today: phishing websites, dumpster diving, employee records are just some of them. When you’re applying for a loan or mortgage you…

The single most important thing to note about a low credit score is that not only may it prevent you from actually receiving credit, but you will also get a higher interest rate as lenders see you as a bigger risk. The following chart will show you how a low credit score can significant affect your interest rates when applying for a car loan:   Credit Score 36-month new auto…