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What Is a Personal Loan? How It Works

Credit Corp

A personal loan is money borrowed from a lender that can be used for almost any purpose, from debt consolidation to home improvement projects. Most people don’t have $5,000+ sitting in their bank accounts—that’s where personal loans come in. What Is a Personal Loan? Why Would I Need a Personal Loan?

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What Is a Personal Loan?

Better Credit Blog

Each year, tens of millions of Americans facing similar situations turn to personal loans to help ease the financial burden. With low interest for borrowers with strong credit scores, fixed rates, and a variety of lending sources to choose from, it’s easy to see why personal loans are so enticing. Rates & Fees.

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How to Find the Right Online Personal Loan for You

Credit Corp

Everything is online these days—including personal loans. Online lenders make it easy to compare rates and terms and find the right online personal loan for your situation. Personal loans were the fastest-growing category of consumer debt in 2019 , according to a survey from J.D. Secured vs. Unsecured Loans.

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Best Personal Loan Companies of 2022

Better Credit Blog

The best personal loans charge low fees and low fixed interest rates, have flexible loan amounts and terms, and have no prepayment penalties. A personal loan could let you access cash for any purpose. Since personal loans are unsecured, you’ll need an excellent credit score to get the best deal.

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How to Check Your Credit Score Without Hurting It

Credit Corp

Your credit score is an important aspect of your financial health and is oftentimes used by lenders, landlords, and even employers to determine your creditworthiness. Hard inquiries , also known as hard pulls, are typically made by lenders and other financial institutions and can harm your credit score.

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The Lenders Giving Borrowers Second Chance Loans

Credit Corp

And her bank wouldn’t give her and her husband Larry a loan to buy a replacement home. Brenda’s still tending her garden, though, thanks to a second-chance loan from the New Hampshire Community Loan Fund-a Community Development Financial Institution (CDFI). Flexible loan amounts. BadCreditLoans.com.

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How to Check Your Credit Report for Identity theft

Credit Corp

Sometimes, fraudsters make a lot of credit card and personal loan applications in a short period of time, so if you see a recent list of unknown inquiries, someone might be trying to steal your identity. Tip: Sometimes, the name of a financial institution doesn’t precisely match the name of the company checking your credit.