If the credit score is less than 6% yearly, you will be eligible to get loans your interest rates will be high, and you will get smaller credit limits
A loan with a 6% annual percentage rate (APR), for instance, can be given to you with a 30% interest rate if your credit score is low. On the other hand, a credit card might give people with good credit a two-year 0% interest period, while those with poorer credit might only get six months.