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Abbey620
Low interest rate is best, because you have to pay something at that rate. Say you borrow 100 dollars with an interest rate of 1%. You would have to pay back 101 dollars. If it had an interest rate of 5%, you would have to pay back 105 dollars. So; the lower the rate the less you would have to pay. So the lower rate is preferable.
Lanuel

When applying for credit, it is preferable for a credit-holder to receive a low interest rate.

What is a credit?

A credit refers to a type of financing plan in which a seller allows a customer to purchase goods or services based on the agreement that the amount of money herein, would be paid later with an agreed upon interest rate.

As a general rule, it is preferable for a credit-holder to receive a low interest rate when applying for credit because he or she will pay less for the privilege.

Read more on credit here: https://brainly.com/question/26220899

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