> for example someone making 2,000 a month trying to buy a 1,200 phone may warrant a higher interest rate. Why would the interest rate be different from someon

> for example someone making 2,000 a month trying to buy a 1,200 phone may warrant a higher interest rate. Why would the interest rate be different from someone making 2,000 a month trying to buy 1,200 $1 widgets?