Final answer:
When applying for credit, borrowers should research fees, government regulations, interest rates, introductory rates, and required repayments.
Step-by-step explanation:
When applying for credit, borrowers should research the following information:
- Fees: It's important to understand the various fees associated with the credit, such as annual fees or late payment fees.
- Government regulations: Familiarize yourself with any laws or regulations that govern the credit industry to ensure your rights and protections as a borrower.
- Interest rates: Compare the interest rates offered by different lenders to find the most competitive rates that fit your financial needs.
- Introductory rates: Some lenders may offer special introductory rates for a certain period of time. Research and understand these rates to determine if they are beneficial in the long run.
- Required repayments: Review the repayment terms and conditions, including the minimum monthly payment and the overall repayment period.