Shopping For Credit
Do your homework. Shopping for credit should be the same as shopping for anything else. You have many potential lenders to choose from — banks, credit unions, trust, loan, finance and life insurance companies, credit card organizations and retail stores. Interest rates and lending conditions can vary widely, so it pays to find out which lending source can meet your particular needs at the lowest cost.
Be aware, though, that applying to several organizations for credit within a short period of time could negatively affect your credit rating. Once you’ve done your comparisons, it’s then time to apply for credit.
