Question

When applying for credit, what information should borrowers research? Check all that apply.

Answer 1

The correct answers are:

Fees

Interest Rates

Introductory Rates

Answer 2

when applying for credit,borrowers should research for the following firt;

intrest rates; important because they determine the principal amount that the borrower shall pay.

fees: fees are important because some may be hidden and could add to the final cost of the loans. such fees include processing fees

required repayments; borrowers should research the repayment terms extensively to avoid the negative of effect of defaulting