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Poor credit scores can cost borrowers up to £13,541 more on a £10,000 loan over three years.
Individuals with poor credit scores may pay up to £13,541 more in interest on a £10,000 loan over three years compared to those with excellent credit scores, according to a report by TotallyMoney.
This discrepancy also applies to smaller loans, with poor credit borrowers paying £6,678 more on a £5,000 loan over the same period.
The findings highlight the financial benefits of maintaining a good credit score.
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Las puntuaciones de crédito pobres pueden costar a los prestatarios hasta £13,541 más en un préstamo de £10,000 durante tres años.