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How To Get a Personal Loan: A MoneyTips Guide

Whether you’re looking to bridge the money gap to fund a world trip, your latest passion project or even pay off medical bills, personal loans can be a valuable tool to covering some expenses. Getting a personal loan relies on the following factors: Having a decent credit score and established credit history Getting prequalified Picking...

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Understanding Personal Lines of Credit

There are times when you need money. You could opt for a personal loan or a home equity loan, but there is another option. A personal line of credit. It’s not as widely advertised by banks and other lenders, compared to credit cards or other kinds of loans. But if you need money and flexibility,...

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How to Get a Personal Loan With Bad Credit

You’ve encountered a major expense and you don’t know how you’re going to pay for it. It happens to the best of us – so don’t feel like you’re alone. After taking care of the necessities, it can be difficult to find the extra money to pay for unexpected expenses. Many people will take out...

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Personal Loans for Excellent Credit

Credit is built around the concept of someone offering you something – like a good, a service or an asset – and expecting you to pay for it later. When it comes to types of credit (like personal loans), it’s kind of like a big I-O-U, except you aren’t making a deal with your buddy...

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How Do You Get a Business Credit Card?

So you started a business – and business is booming! Now you’re in the happy situation of needing more capital to fund your business’s growth. This is where a business credit card can come in handy. We’ve put together a guide outlining what you need to qualify for a business credit card, how to apply...

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What Is a Signature Loan?

Life brings most of us occasions when a little extra money would be helpful. Maybe you’ve been hit with unexpected medical bills, or your home’s air conditioning unit literally gave its last gasp. Or maybe you’re planning a wedding and need to put a deposit down to reserve the venue.  If you have good credit...

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Personal Line of Credit vs. Personal Loan: What’s the Difference?

You can borrow money through a personal line of credit or a personal loan. You won’t need collateral (aka an asset that secures a loan) for either loan. And both are repaid over a set period of time. Either one is a great option for making large purchases or financing big projects. And you can...

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Payday Loans vs. Personal Loans: Which Is Better?

If you need some financial help, payday loans and personal loans are two ways to borrow money. You typically don’t need any collateral for either loan, and you can use the money any way you like. Payday loans work well for quick cash – but they can be very dangerous and very expensive in the...

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Home Equity Loan vs. Personal Loan: Which Should I Go With?

You might see the word ‘debt’ and think it’s a bad thing to have. But the truth is, life happens. A sudden emergency room visit or a costly home repair can squeeze your pocketbook. Or you may have lots of credit card debt you’d like to consolidate. We get it – sometimes finances become stressful....

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Different Types of Loans You Should Know

Loans are part of how most of us live our lives. Loans help people get educated, buy a car, buy a home, pay for emergency medical bills and much more.  The list of reasons why people need loans is a long one. And, thankfully, there’s an equally long list of loans available for our diverse...

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What is an Unsecured Line of Credit and How Does It Work?

Are you considering a kitchen repair, starting up that small business you’ve been dreaming about or trying to figure out how you’ll scrape by in the summer months with your seasonal job? An unsecured line of credit may be just the thing. A line of credit is a type of revolving credit, meaning you can...

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How and When To Refinance a Personal Loan

Personal loans can be a helpful way to finance a whole host of things, from a home improvement project to a wedding or even emergency medical bills. If you currently have a personal loan, you may be wondering when and if you can refinance the loan and if refinancing might be a good move.  Personal...

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How To Get a Personal Loan With No Credit

Life happens. And despite making savvy money moves and routinely growing your savings, unforeseen expenses – like medical bills, big emergencies or car repairs – can derail even the most well-planned budget and savings plan. When life happens, you may need to take out a personal loan to cover the cost. But how can you...

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How Does Credit Card Interest Work?

If you were perfect and never made a mistake, you’d probably pay your credit card balance in full each month. But since most of us are mere mortals, we carry debt on our credit cards from time to time, and sometimes for quite a long time. When you don’t pay your credit card bill in...

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5 Best Ways To Finance a Boat

Picture yourself sipping a cool refreshment as the sun beams down on you and there’s the sound of water lapping against the side of your boat. Ahh, that’s the life, isn’t it? Well, this daydream may be easier to make your reality than you thought! We’ve put together five of the best ways to finance...

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Can You Refinance a Personal Loan?

Refinancing your personal loan is a great tactic to manage financial change. Whether you’re making the shift from a two-income to a one-income household, adding a significant expense, paying off credit card debt or sending children off to college, you may need to adjust your personal loan payments to be more affordable. Consider these scenarios:...

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Installment Credit: What Is It and How Does It Work?

There are two main types of credit accounts: revolving credit and installment credit. When it comes to revolving credit, think credit cards. When it comes to installment credit, think mortgages or personal loans. Our guide covers the ins and outs of installment credit: what it is, how it works, how it affects your credit score...

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What Are the Different Types of Credit?

You probably already know that a credit score is a three-digit number lenders use to help them predict a borrower’s ability to repay a loan. You probably also know that to build credit, you have to use credit. But do you know how your score is calculated and the best ways to improve it? Your...

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What Is Revolving Credit? A Definition and How It Works

You’ve probably heard the term “revolving credit” before. But have you ever stopped to wonder: What does revolving credit mean? What is revolving credit and how does a revolving account work? Are revolving accounts different from other types of credit? You may have used revolving credit without knowing the official term. In fact, you probably...

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Why You Keep Getting Declined When You Need a Loan

Whether you’ve been rejected in love – or loans – you’re in good company. Speaking from personal experience, it’s not fun, but people face rejection every day.  If you want to show rejection that it’s not the boss of you, we’ve got a pro tip: dust yourself off and try again!  Don’t be discouraged. Getting...

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Vacations Loans and How To Get One

There are so many reasons to vacation and even more places to go. You could travel your whole life and never see every patch of land and every marvel this world has to offer.  Unless you’re planning on visiting these wonderful places on foot or by bike and sleeping under the stars, traveling can come...

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Credit Card Refinancing vs. Debt Consolidation

The average American is carrying $5,313 of credit card debt in their wallet. And because the average credit card has an interest rate that ranges from 15% – 25%, that debt can balloon over time.  If you’re looking for ways to pay off your high-interest credit card debt, consider taking advantage of these popular methods: ...

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How To Get a Personal Loan for Medical Expenses: A Complete Guide

Seeking help for any health issue can be a stressful and scary experience. And figuring out how to pay mounting medical bills can be even more stressful and frightening.  A recent study by the Commonwealth Fund found that 4% – 11% of Americans with employer health insurance had high out-of-pocket costs that climbed as much...

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How To Use Personal Loans for a Small Business

You’ve got an amazing idea for a new business. You’re ready to give the world the product it didn’t know it needed, get offers from all the sharks on “Shark Tank” and become a household name.  Or maybe you’ve got a unique set of skills and want to be your own boss. You’ve got everything...

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What Personal Loans Are Used For: 9 Examples

Personal loans are flexible. 🤸🏿‍♂️ They can be used to pay for just about anything.  Technically, you could get a personal loan and go on a self-care spending spree or invest it in the latest trendy stock – but we’ve got a couple of better ideas.  Personal loans are best used to pay for emergency...

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How To Get a Loan When You’re Self-Employed

Being self-employed looks different for different people. There’s the hustle, the entrepreneurial leap, the layoff rebound, the career makeover and more. No matter why you’re self-employed – or what that even looks like for you – you’re probably working hard to juggle multiple responsibilities.  But, even when things couldn’t be better financially, dips in income...

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What Credit Score Do You Need for a Personal Loan?

To qualify for a personal loan, most lenders are looking for borrowers with credit scores in the neighborhood of 670. That doesn’t mean you can’t qualify with a lower credit score, but it may affect how much you can borrow and the interest rate you’ll be charged. To make sure you’re getting the most value...

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Types of Personal Loans: Unsecured vs. Secured

Who hasn’t needed a little extra cash now and again?  If you need more money than your credit card limit offers and don’t want to dip into your savings or take money out of an investment or retirement account, a personal loan might do the trick!  A personal loan is money you borrow from a...

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Should I Use a Personal Loan To Consolidate Debt?

Whether it’s credit card debt or any other kind of debt, dealing with multiple payments every month can be frustrating. Consider uncomplicating your life by rolling all your debt into a single monthly payment with a personal loan. Debt consolidation is one of the most popular reasons why people get personal loans.  But before you...

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7 Tips To Help You Consolidate Credit Card Debt

Are you carrying a lot of credit card debt? Do you die a little on the inside every time one of your credit card payments is due? Are you tired of making payments and feeling like your balance hasn’t budged? You’re not alone.  The typical American has about $5,315 in credit card debt, and the...

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7 Tips For Managing Debt — And Why It’s Not ‘One Size Fits All’

Our debt doesn’t define us, but it can absolutely impact our lives in profound ways. If it gets out of control, debt – and the anxiety it can cause – might even interfere with the things that matter most to us.  Figuring out how to manage your debt will help you take control of your...

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Should You Get a Personal Loan? Here’s What You Need To Know

Did you recently have an unexpected expense pop up? Are you unsure about how you’re going to pay for it? No matter how well we plan our lives out, sometimes we find ourselves in financial pickles that leave us strapped for cash. Don’t sweat it too much, though. You definitely have a few options available...

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What’s a Payday Loan… and Why Isn’t It the Best Move?

Here’s a loose definition of a payday loan: It’s a way to use your upcoming paycheck to borrow money when you NEED cash – and you need it fast. It’s a relatively small loan (no bigger than your paycheck), but it comes with a HUGE interest rate and a small window of time to repay...

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money in a clip for finding out what personal loans are, how they work

Unsecured Personal Loans: What They Are and How They Work

Taking This Real Personal: Unsecured Personal Loans Today we’re talking about another kind of loan – and this time, it’s personal. Personal loans exist to bridge the gap between your imagination and reality, with a reasonably affordable way to take out credit. Let’s get into what an unsecured personal loan is and how it works....

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