Personal Loans Articles

These are the Top 3 Personal Loans for Debt Consolidation Loans

If you need a personal loan to consolidate credit card debt, there are plenty of lenders who can help you pay off your debt faster and more efficiently.

Everything You Wanted to Know About Personal Loans But Were Too Afraid to Ask

Nov. 19, 2024

Everything You Wanted to Know About Personal Loans But Were Too Afraid to Ask

Taking the time to research—and in particular getting some advice—can help you make sure you get a personal loan that gives you some financial relief, without getting yourself further into debt with high fees and interest rates.

Compare Recommended Personal Loan Providers for Students

Oct. 21, 2024

Compare Recommended Personal Loan Providers for Students

If, like most undergrads, you’re defined as a “dependent student,” you’re entitled to borrow up to $5,500 in federal student loans (also known as Stafford Loans) in your freshman year, $6,500 in your sophomore year, and $7,500 in both your junior and senior years.

The Dos and Don'ts for Borrowing Money During a Crisis - Professionals Weigh In

Sep. 26, 2024

The Dos and Don'ts for Borrowing Money During a Crisis - Professionals Weigh In

This new reality that we’re experiencing is changing everything, including the way we borrow money. We asked leading finance professionals to present the good and the bad options for American households and businesses seeking a loan.

How to Make This Your Last Personal Loan And Set Yourself Up for Financial Security

Sep. 12, 2024

How to Make This Your Last Personal Loan And Set Yourself Up for Financial Security

If you’re in the market for a personal loan, you’re not the only one. Personal loans are the fastest-growing consumer credit product in the United States, thanks to low unemployment, supportive regulations, and the rise of online lenders.

The Dos and Don’ts of Taking Out a Personal Loan

The Dos and Don’ts of Taking Out a Personal Loan

Taking out a personal loan can be a smart and highly-effective way to consolidate your debt, which is the most common reason to take out such a loan, or you can also use one to get the funds necessary to pay for a sudden expense. You might need to deal with an emergency, pay for a large household expense, or just cover a temporary personal cash-flow issue.

10 Personal Finance Habits That Will Set You Up For Financial Security

10 Personal Finance Habits That Will Set You Up For Financial Security

Good personal finance habits aren’t only about saving money. They are about building patterns of behavior that keep you in control of your money, whether you choose to spend it, save it, or give it away.

A Guide to Finding a Personal Loan with a Cosigner

A Guide to Finding a Personal Loan with a Cosigner

If you have less than ideal credit or no collateral to put down, it can be difficult to get a personal loan with a low interest rate. This is where cosigning a loan can really help. With a low credit score (620 or lower), you stand to face some real reluctance, if not just flat out rejection, with many lending houses. Even if you are approved you stand to pay a high interest rate of 15% or higher.

What to Look For When Applying for a Personal Loan

What to Look For When Applying for a Personal Loan

Taking out a personal loan can be a wise decision if you’re looking to consolidate debt or make a purchase that you simply don’t have the funds to make at the moment.

How to Use a Personal Loan to Finance Your Wedding

How to Use a Personal Loan to Finance Your Wedding

The cost of planning a wedding has climbed high, making it difficult for the average Jane to make a wedding on the average monthly salary. For this reason, more people are turning to personal loan services to fund their wedding.

Personal Loans for Bankrupts: How to Get Back on Your Feet

7 min read

Personal Loans for Bankrupts: How to Get Back on Your Feet

Declaring bankruptcy used to carry stigma, but today declaring bankruptcy is mainly seen as a necessary step taken to repair financial well-being. While it does afford you a fresh start, it also brings new issues to contend with.

Compare Our Top 5 Personal Loan Lenders of 2024

Jul. 10, 2024

Compare Our Top 5 Personal Loan Lenders of 2024

Whether you are taking out a personal loan to better your debt situation or you’re finally getting the kitchen remodel you’ve been dreaming of, the lender you choose is important. The right lender and rate could save you thousands over the lifetime of your personal loan.

Should You Use a Personal Loan to Pay Off Credit Card Debt?

Mar. 19, 2023

Should You Use a Personal Loan to Pay Off Credit Card Debt?

With the cost of food and household bills reaching unprecedented levels, more and more of us are getting into debt simply to cover our everyday expenses.

Looking for a Pool Loan? Compare These Lenders

Looking for a Pool Loan? Compare These Lenders

If you love the idea of adding a pool to your home but don’t have the financial means to do so, a personal loan can be a good option for making your dream come true.

How to Find the Right Loan for You Based on Your Credit Score

How to Find the Right Loan for You Based on Your Credit Score

Many people seek out personal loans without really understanding the mechanics behind the process. Getting accepted by a lender for a personal loan is determined by several factors, some of which you may not have control over.

6 Steps Towards Getting a Competitive Personal Loan with Low Rates

6 Steps Towards Getting a Competitive Personal Loan with Low Rates

What do you do when extra expenses come knocking and you just don’t have the money? You can borrow against your house or car, but then there’s a risk of losing your collateral. If you get an unsecured personal loan that risk is eliminated - but because it’s a riskier loan for the lender than a secured loan, you end up with higher interest rates and fees.

SoFi vs. Marcus: Which Personal Loans Company is Right for You?

SoFi vs. Marcus: Which Personal Loans Company is Right for You?

The choice of reliable, reputable online loan companies that offer good rates, high-level customer service, and fast turnaround times for personal loans is greater than ever. We put SoFi and Marcus head to head to evaluate their application process, loan terms, eligibility requirements, fees, security, and customer service so that online borrowers can choose which one is right for them.

Personal Loans: Are They Always a Good Idea?

Personal Loans: Are They Always a Good Idea?

If you’re in need of a large sum of money to pay off credit-card debt or fund a large purchase, a personal loan can be a tempting option.

The Millennial's Guide to Being a Grown Up With Money

7 min read

The Millennial's Guide to Being a Grown Up With Money

Millennials have more positive opportunities than Baby Boomers and Gen Xers did. Millennials have a wealth of internet knowledge at their fingertips and more flexibility and benefits than previous generations.

Compare Different Secured Personal Loans of {year}

Compare Different Secured Personal Loans of 2024

A secured personal loan is called that because the loan is secured by some form of collateral. Unsecured personal loans rely on your personal credit score, financial history, and debt load to determine whether you can be eligible for a loan or not.

5 Excellent Providers of Short-Term Personal Loans

5 Excellent Providers of Short-Term Personal Loans

Short-term loans are generally unsecured personal loans that have repayment terms of 3 years or fewer.

Compare Loan Companies for Every Loan Type

Feb. 08, 2023

Compare Loan Companies for Every Loan Type

There are many types of personal loans, sometimes also referred to as signature loans, available from online lenders. Although most loan providers offer more than one loan type, each usually has one area in which it specializes.

Do You Have Good Credit? Check Out These Personal Loan Companies

Feb. 08, 2023

Do You Have Good Credit? Check Out These Personal Loan Companies

When you apply for a personal loan, one of the factors that stands above all others in determining your rate is your credit score. The higher your credit score, the lower the rate. Generally speaking, a good credit score should be enough to qualify for an interest rate below the national average of 10.1%. An excellent credit score is needed to qualify for the lowest APRs of 5%-7%.

Find the Right Unsecured Personal Loan for You

Feb. 08, 2023

8 min read

Find the Right Unsecured Personal Loan for You

Sometimes you may need to secure a loan and find this easier said than done. A popular option is to look for unsecured personal loans—offered by many personal loan companies. These are often easier to get than secured loans, though there are some guidelines to keep in mind before moving forward.

Jan. 26, 2023

Do Personal Loans Hurt Credit Scores?

Keeping your credit score up is incredibly important for your personal finances. A strong credit score gives you access to more options when you need credit and access to lower interest rates on any money you do borrow. Your credit score may also be taken into account when you’re looking for housing or even when you apply for jobs.

Personal Loans to Become Cheaper as Fed Cuts Interest Rates

Oct. 14, 2022

Personal Loans to Become Cheaper as Fed Cuts Interest Rates

Personal loans are the fastest growing form of consumer credit in the United States and they’re about to become even more popular.

Jun. 03, 2022

7 min read

Personal Loans 101

From peer-to-peer lenders and micro loan websites to major brick and mortar banks, there are plenty of avenues for you to find your personal loan.

Compare 5 Long-Term Personal Loan Lenders

Jun. 03, 2022

8 min read

Compare 5 Long-Term Personal Loan Lenders

A long-term personal loan is essentially any loan with a repayment period longer than around 3 years. Long-term personal loans usually offer higher loan amounts, lower interest rates, and are frequently secured to some item of collateral, such as your home or your car. Unsecured long-term personal loans will not have lower rates or higher loan amounts because the risk to the lender is still high.

Secured vs. Unsecured Loans in a Nutshell

Jun. 02, 2022

2 min read

Secured vs. Unsecured Loans in a Nutshell

If you need some extra funds, one of the most important things to know is the best type of personal loan for your needs. When it comes to personal loans, there are 2 major categories that you will come across: secured loans and unsecured loans.

Direct Lenders vs. Lending Marketplaces: What’s the Difference and Which is Right for You?

May. 27, 2022

Direct Lenders vs. Lending Marketplaces: What’s the Difference and Which is Right for You?

Direct lenders provide personal loans and other lending products directly to consumers. The big banks used to dominate the direct lending space, but online lenders have grabbed a significant portion of the market share in recent years. Online lending marketplaces leverage powerful algorithms to match consumers with the direct lenders that meet their needs.

Compare These 5 Personal Loan Providers If You Have Bad Credit

May. 27, 2022

Compare These 5 Personal Loan Providers If You Have Bad Credit

Getting a personal loan with bad credit can be tough, but thanks to a few specialist lenders it’s a lot easier than you may think. When a lender assesses a personal loan application, they usually start with the applicant’s credit score. If the applicant has bad credit, this tells the lender there’s a high risk of them not repaying the loan in full.

Find the Right Home Improvement Loan for You

May. 26, 2022

8 min read

Find the Right Home Improvement Loan for You

If you’re looking to make renovations but don’t yet have the cash flow, a home improvement loan is a solid way to get the funds you need, with terms that won’t hurt your wallet.

7 Signs an Online Loan Company is Legitimate

May. 26, 2022

7 Signs an Online Loan Company is Legitimate

There are plenty of ways to borrow money. A popular choice is to go with an online personal loan provider. If you do not like the terms of a traditional lender, like a large bank, or you don’t have the credit score required, there is likely a non-traditional online lender that will approve your loan application.

Cover Your Medical Expenses with These Personal Loan Providers

Cover Your Medical Expenses with These Personal Loan Providers

High medical costs can add insult to injury when you're recovering from a medical emergency. Even people who have medical insurance can find themselves struggling with high copays, an insurance company that refuses to pay up, or simply face a long delay until insurance payments are approved.

SoFi Community: This Loan Provider Wants to Take You Out For Drinks

SoFi Community: This Loan Provider Wants to Take You Out For Drinks

How would you like it if your loan provider invited you out for drinks? Maybe yoga is more your speed? That's no problem. If you're working with SoFi, you can find any number of events that may appeal to you. But, since when do money-lenders get involved in the private lives of their customers? When your name is Social Finance, it shouldn’t come as a big surprise.

SoFi-Wealth: The Wealth Management Platform for the Average Joe

SoFi-Wealth: The Wealth Management Platform for the Average Joe

In its latest move towards educating and empowering its customers, leading personal loan provider SoFi has introduced SoFi Wealth, a native wealth management platform. But, what is SoFi Wealth all about, how does it work, and what makes it different than the rest?

This 7-Step Guide Will Ensure You Choose a Personal Loan Provider You Can Trust

This 7-Step Guide Will Ensure You Choose a Personal Loan Provider You Can Trust

Getting a personal loan can be a long and complex process. Ideally, your personal loan will help you to make the purchases you need or cope with emergencies and not be a source of debt and anxiety.

Personal Loans vs Credit Cards: Which Should You Choose?

Personal Loans vs Credit Cards: Which Should You Choose?

Maintaining financial security isn’t just a matter of making all your expenses every month, it also means clearing enough to put some away for a rainy day or for major purchases down the road.

How Long Does it Really Take to Get Approved for a Personal Loan?

How Long Does it Really Take to Get Approved for a Personal Loan?

If you’re waiting for approval for a personal loan, you’re likely eager to find out that you’ll be approved. Although it feels like it takes a long time, when you think about what needs to be done, approval for a personal loan actually happens relatively fast.

5 Facts About Personal Loans You Need to Know

5 Facts About Personal Loans You Need to Know

More Americans are using personal loans in 2018 than at any other time in history, thanks largely to the rise of online lenders. To understand why, take a look at how online lending is re-shaping the personal loans market and the other trends that are helping borrowers to save on personal loan rates – and to favor personal loans over other lending products.

Short Repayment Terms vs. Longer Loans: How They Work and Which is Right For You

Short Repayment Terms vs. Longer Loans: How They Work and Which is Right For You

The monthly cost of a personal loan is determined by 3 factors: loan amount, interest rate, and loan term. The bank decides the interest rate based on your credit score and other factors (and tacks on fees to form your APR). Assuming we hold loan amount and interest rate constant, the size of your monthly payments will be determined by the duration of your loan, also known as the loan term.

Should You Use a Personal Loan to Help Pay Off Your Student Debt?

Should You Use a Personal Loan to Help Pay Off Your Student Debt?

So, you have student debt? You’re not alone, according to the latest Federal Reserve data, which shows that Americans owe more than $1.5 trillion on student loans. Among the Class of ’16, average debt at graduation topped $30,000 in 17 states, according to the Institute for College and Success’s 12th Annual Student Debt Report.

The Smart Way to Repay Your Loan

The best strategy for paying off a personal loan can be summed up in one word: preparation. No 2 borrowers are equal, and a loan perfectly suited to one person could easily be a cause of stress for another. That’s why it’s crucial to be prepared. Before taking out a personal loan, it’s important to figure out what you need the money for, how much you need, and how you plan to pay it back.

Paying Off a Loan Early: Should You or Shouldn’t You?

Paying Off a Loan Early: Should You or Shouldn’t You?

A personal loan is typically a small loan ranging from several hundred dollars to as much as $100,000. These are more likely to be unsecured loans. That is, the borrower wasn’t required to put down any collateral, but typically pays a higher interest rate to compensate for the risk the lender is taking.

No Credit Check Loans: Reasons to Avoid Them and the Alternatives Available

No Credit Check Loans: Reasons to Avoid Them and the Alternatives Available

When you need instant cash, it might be tempting to take whatever loan you can—including a no credit check loan. But before taking this or any other type of loan, you should understand the loan you’re getting, and how it might affect your financial future.

Get the Lowdown on How to Calculate Your Credit Score

2 min read

Get the Lowdown on How to Calculate Your Credit Score

If you’ve ever applied for a loan, tried to buy a large item on a financing plan, or have a credit card, you’ll have been asked about your credit score. Your credit score is a way of measuring how financially responsible you are so that banks and other lenders can decide how risky it is to give you a loan.

Top 8 Warning Signs of a Lending Scam

A personal loan is a loan for all seasons, and lenders will let you use them for virtually anything. Planning to consolidate debt, make home improvements, or go on a long vacation? A personal loan isn’t the only way to get funding, but it is generally the simplest and quickest way to borrow at a potentially single-digit interest rate.

These 7 Essential Budgeting Tips Will Help You Save Money for What Really Matters

These 7 Essential Budgeting Tips Will Help You Save Money for What Really Matters

Having an effective budget means you'll be able to save money and feel more secure so that you can splurge on things like a fancy meal with friends without worrying that it might have pushed you into the red.

How Are Interest Rates and APR Percentages Calculated?