Final answer:
The five tiers of credit scores, in order from lowest to highest, are Deep Subprime, Subprime, Near-Prime, Prime, and Superprime. Credit scores determine the interest rates offered on loans, with higher scores generally leading to lower rates.
Step-by-step explanation:
The correct order of credit score tiers, starting with the lowest, is as follows: Deep Subprime, Subprime, Near-Prime, Prime, Superprime. It is important to understand that a credit score is a numerical expression based on a level analysis of a person's credit files, to represent the creditworthiness of an individual. A subprime mortgage is a type of loan granted to individuals with poor credit scores who are considered a higher risk by the lender.
A higher credit rating generally implies a lower risk for the lender, which translates into lower interest rates for the borrower. Conversely, a lower credit rating suggests higher risk and usually results in higher interest rates. When managing finances, it's important to be aware of factors such as loans, credit cards, and interest rates, which can all affect one's credit score.