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Q » What is credit rating and why is it important?
06 Dec, 2025
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A » A credit rating is an assessment of the creditworthiness of an individual or entity, reflecting their ability to repay borrowed money. It is crucial as it influences interest rates on loans and credit approval. High credit ratings often lead to lower interest rates and more favorable loan terms, while poor ratings may result in higher costs and limited borrowing options, impacting financial planning and opportunities significantly.
06 Dec, 2025
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