Prime Rate
When you take out a loan, you may be offered the lender’s prime rate on the loan. This means that you have a very good credit rating because it is the lender’s best available interest rate. This is also tied in with the credit ratings of Prime and sub-Prime, so a customer with a prime credit rating will get a prime rate on the loan. Unless you are applying for a loan with a lender who deals exclusively with prime credit clientele, you will find the prime rate is reserved for the lucky few.
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