When someone like Jonathan with an average credit rating applies for a newer credit card, he should be expecting an APR of 10.99% on his credit card. Therefore, the option B holds true.
A credit rating is a phenomenon or a factor that determines the credibility of an individual. Such credit rating is often checked while applying for loans and advances or credit limit through devices like credit cards. Credibility is higher is the rating is higher and vice versa.
If someone has an average credit rating, and they haven't applied for a credit card yet, they are eligible to get a credit cards for an interest APR of as low as 10.99%. Thus, it can be considered as an ideal rate of APR.
Therefore, the option B holds true regarding the significance of credit rating.
Learn more about credit rating here:
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