Educational Resources - Borrowing Basics

Borrowing Basics | Types of Credit | Cost of Credit | Applying For Credit | Manage Your Credit | Glossary

Applying for Credit

Ask yourself these questions before obtaining credit.

  • Do I need this?
  • Do I need it now?
  • Can I wait until I have cash to pay for it?
  • Can I get credit?
  • How much more will I pay if I buy on credit?
  • Can I afford the monthly payments?
  • What is the total cost of credit?
  • Are there any fees?
  • What is the annual percentage rate?