Question
When applying for credit, what information should borrowers research? Check all that apply.
fees
government regulations
interest rates
introductory rates
required repayments
fees
government regulations
interest rates
introductory rates
required repayments
Asked by: USER6588
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207 Answers
Answer (207)
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
The correct answers are:
Fees
Interest Rates
Introductory Rates