Q 6.21: Raj obtained a $560 loan to be paid back in 21 days. Raj will pay a fee of $90. What is the APR of the loan? A : 5%. B : 192%. C : 278%. D : 16%.

Having a long credit that will be corrected is better that a short credit that is clear is simply because with long credit history, a prospective lender can see how you have operated your credit facility over a considerable period. nobody's credit history is perfect - everyone has at least 1 or 2 lapses on their record. have short history of your credit doesn't show patterns or trends of persistent late payments.

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