Old doc white advised you to do your homework before applying for a consumer loan. which of the following is his main piece of advice on preparing to get a consumer loan?
a. build a monthly budget that includes the loan payment, but there's no need to include any of the associated costs (insurance, maintenance, etc.) in your budget because they are too hard to estimate.
b. take the shortest loan term (number of years) possible so that you are out of debt faster
c. check your credit history at least 3-6 months before applying for the loan.
d. apply for a loan at 3 separate banks to ensure that you will have enough money to make the purchase (the babe ruth rule).

C) Check your credit history at least 3-6 months before applying for the loan.

Explanation:

Financial advisors will always tell us that we need to have at least 700 points in our credit score. That way when we apply for a loan we will get lower interest rates and longer terms.

If your are planning to buy a house or a car and you know you will need a big loan, you should review your credit score a few months before applying for the loan since there is a simple way you can increase your credit score. The simplest way to increase your credit score is to apply for several credit cards within a 3 to 4 month period. It doesn't matter if the credit card applications are accepted or not, your credit score will increase because number of inquiries on your credit history increased.