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    Credit score is crucial especially when applying for a loan because its approval depends on it. The lender will base his judgment on whether it is risky to lend the borrower money or not. High score means that the borrower is more capable of paying the loan. This is contrary to what low score represents. There are lenders who approve low scores though. However, the interest rates for these approved loans are higher than those with higher scores. So if you want to have good loan terms, make sure you have good scores.


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