Lower cost financial service products are typically associated with what?

Lower cost financial service products are typically associated with good credit scores. This is largely due to the fact that individuals with good credit scores demonstrate a history of responsible borrowing and timely repayment of debts. Lenders view these individuals as lower risk, which allows them to offer more favorable terms, such as lower interest rates and reduced fees.

In contrast, high-interest loans are typically extended to individuals with poor credit scores, as lenders charge higher rates to compensate for the increased risk of default. Poor credit scores can also limit access to low-cost financial products, further highlighting the advantage that good credit scores provide.

Secured credit cards, while they can be a useful tool for building or improving credit, often come with associated fees and higher interest rates compared to unsecured credit products available to those with good credit scores. Therefore, good credit scores directly correlate with access to lower cost financial services.