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The credit rating of borrowers is sometimes defined through a letter grade of A to C (beyond C will not have credit available to them), where:
A: Prime borrower - OK and better credit history - qualifies for reasonable rates
B: OK Subprime borrower - limited or somewhat problematic credit history with no bankrupticies, foreclosures or credit judgments - qualifies for rates between 3% and 10% above traditional prime rates through specialty lenders and may have difficulties securing a mortgage or auto loan
C: Not OK Subprime borrower - very limited or notably problematic credit history - qualifies for rates between 10% and 20% above traditional prime rates through non-traditional/specialty lenders and will not be able to obtain a mortgage or auto loan
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