The Credit Comparison Worksheet

Characteristic
Creditor #1
Creditor #2
Creditor #3
Interest rate (APR)*





Annual fee





Other fees
(such as late fees)






Grace period





Other features
(such as
cash-back rebate)






Other features





Other features






*APR, or annual percentage rate, is the actual percentage cost of borrowing money, taking into account both the interest rate charged plus other fees. It tells you how much you will pay on a yearly basis for the use of the money you borrow and allows you to compare the cost of financing from different sources. For example, a loan with a lower interest rate and high fees might have a larger APR than a loan with a higher interest rate but no fees.