Typical APR
When a credit company uses Risk Based Pricing to offer products at rates varying according to status, the Typical APR is the rate that it will offer to at least half of successful applicants.
Under the Consumer Credit Act it is this typical APR that must be shown on advertising and promotional material, rather than the attention-grabbing low rates that only people with the best credit ratings could expect to be offered.
In general, if you have an average credit rating, you will probably be offered the typical rate.
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