Question: 7. What is the difference between prime rate and subprime rate and how they are applied? Describe the five Cs credit criteria in leanding process.

7. What is the difference between prime rate and subprime rate and how they are applied? Describe the five Cs credit criteria in leanding process. Why might underwriting standards vary at different banks?

8. What is the difference between APR and Financial Charge? How can a consumer find the best deals on credit?

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