Personal Loan Knowledge Center

Personal loans can help you get things done or simply manage old debts more cost-effectively. MoneyRates experts have written on a variety of topics that can help you get the best use out of personal loans.

Types Personal Loans

What types of personal loans are there? Learn personal loans for different purposes, such as:

  • Paying medical expenses with a personal loan
  • Personal loans for home renovations
  • Debt consolidation

Using Personal Loans

Once you decide what you want to do, it’s important to choose the right personal loan for your needs. MoneyRates offers some tips to help you use personal loans wisely, including:

  • Finding the best deal on a personal loan
  • How personal loans affect your credit score
  • Avoiding rip-offs like payday lenders

Borrowing money is an important financial decision. Know what you’re getting into by understanding a little about personal loans first.

How Can You Make Sure You’re Getting a Good Rate on Your Personal Loan?

Maryalene Laponsie
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Personal loans can come in handy in all sorts of situations. You might use one to consolidate debt, purchase a vehicle, or complete home repairs. In most cases, these loans are unsecured, which means you won’t have put up any property, such as your home, as collateral. If you’re in the market for a personal… Continue reading How Can You Make Sure You’re Getting a Good Rate on Your Personal Loan?

How to Improve Credit Score – From Fair to Good

Gina Pogol
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What is a good credit score? There is no standard definition, but credit reporting agency Experian defines “good” credit as a FICO score ranging from 670 to 739. What is a fair credit score? That definition includes FICO scores from 580 to 669. You can reap huge benefits when you raise your credit score from… Continue reading How to Improve Credit Score – From Fair to Good

Are Personal Loan Mobile Apps Legitimate?

Rebecca Lake
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Getting a personal loan could make sense if you need money to pay for an unexpected expense, home improvement and repairs, or debt consolidation. According to Experian, Americans took out 3.1 million new personal loans in 2020, with many borrowing because of pandemic-related hardships. But where do you turn for a personal loan when you… Continue reading Are Personal Loan Mobile Apps Legitimate?

Personal Loans for Fair Credit November 2022

Peter Miller
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Are personal loans for fair credit borrowers a good financial option? If the answer is yes, then what personal loan interest rates can borrowers expect?

Debt Consolidation Loans for November 2022

Gina Pogol
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If debt consolidation is right for you, you can choose from several methods. One of those options is a personal loan for debt consolidation. If you consolidate debt with a personal loan, you can put an expiration date on your debt, improve your credit score almost immediately and work toward financial security.

Home Improvement Loans for November 2022

Peter Andrew
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You have plenty of choices when deciding on your best options for home improvement loans. Personal loans, home equity loans and credit cards can all fit the bill. But which works out the least expensive for you will depend on your budget and circumstances. So read on to discover your best choice.

How Long Does It Take to Get a Personal Loan?

Gina Pogol
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If you need to borrow money quickly, you have a few options. Fast personal loans minimize the time it takes from application to approval and funding. How long does it take to get a personal loan? That depends on the lender, the loan terms, and how prepared you are when you apply. How Long Should… Continue reading How Long Does It Take to Get a Personal Loan?

Should You Cosign A Loan for Friends and Family?

Peter Andrew
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Cosigning a loan puts your hard-earned savings and your hard-won credit score at risk. But how do you say no when a friend or family member you love asks you to do so? Maybe you don’t. Maybe you say yes. But be sure you read to the end of this article first. At least you’ll then know what you’re putting on the line.

Smart Alternatives to Tax Refund Anticipation Loans

Peter Andrew
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If you’re desperate for cash, you may be tempted by tax refund anticipation loans (RALs), aka refund anticipation checks. Try to resist! Because these typically lack transparency and can turn out to be very expensive. Here are some alternatives — including ways to get your money more quickly from the IRS.

Bankruptcy and Student Loan Discharge

Gina Pogol
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If you’re having extreme difficulty repaying your government-backed student loans, you’re not alone. About 10% of student loan borrowers default on their loans and experience dire consequences. But you don’t have to slide into default – you may be able to discharge student loans in bankruptcy.

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