Chang and Hanna (1992) noted that in today’s complex
financial market, the cost of information search may be
much greater for a money borrower than a goods buyer
because the cost of this service may not be fully or
clearly disclosed until application and the language of the
creditor is difficult to understand for many consumers.
However, in the credit card market, the cost information
is fully disclosed at the time of solicitation and the
information often comes directly to the consumer rather
than the consumer needing to search for it.