Risk Based Pricing
Risk Based Pricing is a process used widely in credit cards. Although a card may advertise a certain typical APR, the APR you'll be offered if your application is successful may be different depending on your credit rating.
If you have data on your credit file which makes you same a bigger risk to the credit card issuer, the APR offered will be higher to reflect that.
Risk Based Pricing allows companies to accept more card applications, while still advertising the attention grabbing low rates that a customer with clean credit would be offered.
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