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Credit Tip: Always Explore Your Options

There is Always More Than One Option

No matter what you are doing in life, it is important to explore your options.  Read articles, talk to friends and family…do research.  If you don’t do the research you may end with a bad deal, or the wrong deal altogether.

When exploring your options try and follow a few basic rules:

  1. One source of information is not enough.  This is especially true if you are using the internet as your research tool.  In addition, make sure the articles you are reading are not just thinly veiled ads for a product or service.
  2. Please make sure you follow rule number #1!
  3. Hard credit inquiries hurt your credit. We just did an article on this here.  Please make sure that if you are comparison shopping, that the credit inquiries are “soft” inquiries.
  4. Often, there are multiple ways of tackling a problem. Make sure to look at more than one solution to your problem…and then go back to rule #1.
  5. Lastly, once you come to a solution, make sure you have a plan to avoid the issue you are currently looking to solve. If you don’t, then you will be right back where you started.
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