That’s not why. Credit scores don’t discourage competition. Competition can still exist within brackets. The reason rates don’t differ much is because most of

That’s not why. Credit scores don’t discourage competition. Competition can still exist within brackets. The reason rates don’t differ much is because most of the rate is determined by factors outside of the lenders control. There’s a pretty small margin for them to compete on price with each other with. That’s why rates on stuff like mortgages are basically commoditized.