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Personal Loans Articles

Learn about how getting a loan online works and how to find
the best one for your specific financial needs.

5 Excellent Providers of Short-Term Personal Loans
Jul. 10, 2022
4 min read

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.

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These are the Top 3 Personal Loans for Debt Consolidation Loans
Jul. 10, 2022
2 min read

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.

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Compare Our Top 5 Personal Loan Lenders of 2022
Apr. 08, 2022
3 min read

Compare Our Top 5 Personal Loan Lenders of 2022

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.

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The Fed wants to raise interest rates—here’s what you should do while they’re still low
Feb. 20, 2022
3 min read

The Fed wants to raise interest rates—here’s what you should do while they’re still low

Federal Reserve Chairman Jerome Powell has highlighted the possibility of raising interest rates to control inflation as soon as March 2022.

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5 Ways You Can Rebuild Your Bad Credit Score
Nov. 08, 2021
3 min read

5 Ways You Can Rebuild Your Bad Credit Score

Your credit score reflects your financial health, and you probably only notice it when it’s bad. Every adult in the US has a 3-digit credit ranking that shows whether their credit is good or bad. A credit score of over 680 is considered good or excellent, whereas a credit score under 600 is below average. A poor credit score of 580 or lower can seriously affect your life.

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How Much Will the Fed’s Near-Zero Rates Actually Help Borrowers?
Aug. 30, 2021
3 min read

How Much Will the Fed’s Near-Zero Rates Actually Help Borrowers?

Here is proof that even the darkest clouds have a silver lining. As humanity faces its greatest challenge this century, one small upshot is that borrowing costs will fall.

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How to Use a Personal Loan to Finance Your Wedding
Aug. 09, 2021
2 min read

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.

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How to Find the Right Loan for You Based on Your Credit Score
Jul. 14, 2021
3 min read

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.

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Get the Lowdown on How to Calculate Your Credit Score
Jul. 14, 2021
1 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.

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Personal Loans to Become Cheaper as Fed Cuts Interest Rates
Jul. 12, 2021
2 min read

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.

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The 7 Recommended Loans for People with Bad Credit
Jul. 12, 2021
3 min read

The 7 Recommended Loans for People with Bad Credit

Bad credit can make loan providers wary of lending money to you. Personal unsecured loans, which are the fastest and easiest type of borrowing, might not be open to your credit score but there are other ways to access money if you need it in an emergency, to cover temporary cash flow issues or to pay for a large purchase. Here are 7 of the best types of loans to turn to if you have bad credit.

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Lending Club vs. Prosper: Which Lender is Best for You?
Jul. 12, 2021
3 min read

Lending Club vs. Prosper: Which Lender is Best for You?

Today, there are more lenders and funding options available than ever. From debt consolidation to innovation funding, borrowers look toward these resources for financial help. With thousands of lenders to choose from, how can you tell which one is the best fit for your needs? Compare LendingClub and Prosper, 2 reputable lenders, to see which one comes out ahead in this head-to-head comparison.

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The Top Personal Loan Providers for Funding Holiday Purchases
Jul. 12, 2021
3 min read

The Top Personal Loan Providers for Funding Holiday Purchases

‘Tis the season for early holiday gift shopping–and for figuring out how to fund all those expensive purchases.

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The One Hack That Will Instantly Boost Your Credit Score
Jul. 12, 2021
3 min read

The One Hack That Will Instantly Boost Your Credit Score

What if there were something you could do to instantly improve your credit score, possibly by more than 20 points? That something, according to a new TransUnion study, is a debt consolidation loan. Read on to find out how.

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These Simple Steps Can Help You Improve Your Credit Score
Jul. 12, 2021
2 min read

These Simple Steps Can Help You Improve Your Credit Score

Applying for a term loan can be difficult and tedious, not to mention all the different eligibility criteria. Applying for a loan? Be aware of the debt-to-income limit. Business loan? Let’s hope you’re making more than the minimum monthly revenue. Personal loan? Get ready to reveal your annual income.

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What It’s Really Like to Take out a Personal Loan: Tips and Tricks From 3 Borrowers
Jul. 12, 2021
4 min read

What It’s Really Like to Take out a Personal Loan: Tips and Tricks From 3 Borrowers

If you haven’t applied for a personal loan before, you may not know what to expect. Thankfully, the process is pretty straightforward at most online lenders. Once you’ve decided on a lender, you usually just have to fill out a quick application. Then, the lender makes a decision and, if you’re approved, deposits funds into your account a handful of days later.

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Learn How to Make the Most of the New FICO Credit Score Formula
Jul. 12, 2021
2 min read

Learn How to Make the Most of the New FICO Credit Score Formula

Your FICO credit score is a big deal. The slightest change in your score can mean the difference between loan approval or rejection, or between a good or bad interest rate. That’s why it’s important to understand how FICO’s new credit rating scale will affect you – and what you can do to emerge stronger.

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Professional Tips on How to Manage Your Money During Chaotic Times
Jul. 12, 2021
2 min read

Professional Tips on How to Manage Your Money During Chaotic Times

We gathered four leading professionals on personal finance to discuss the state of the economy, how it affects American households and what you can do to keep your head above water during this high tide.

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The Dos and Don'ts for Borrowing Money During a Crisis - Professionals Weigh In
Jul. 12, 2021
2 min read

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.

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Compare Personal Loan Options for Military Veterans
Jul. 12, 2021
2 min read

Compare Personal Loan Options for Military Veterans

Getting back to civilian life can be tough for military veterans, and financial issues can often arise. Many vets find that without the regular service pay and benefits, they may not have the funds they need, and that when it comes to job experience, their service often doesn’t help them put together the type of resume that employers are looking for.

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How Are Interest Rates and APR Percentages Calculated?
Jul. 12, 2021
2 min read

How Are Interest Rates and APR Percentages Calculated?

Before you head to the bank to take out a loan for a new car, small business or other investments, take the time to fully understand how your interest rate is calculated. This will help you to better understand your loan terms and conditions with your bank, and put you in a better position to negotiate your rates.

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Online Personal Loans vs. Traditional Bank Loans: Which is Better for You?
Jul. 12, 2021
3 min read

Online Personal Loans vs. Traditional Bank Loans: Which is Better for You?

Online lending has become a booming industry in recent years, providing loans to countless people who prefer the ease, speed, and competitive rates of online lenders.

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Consumers Turning to Personal Loans Over Credit Cards
Jul. 12, 2021
1 min read

Consumers Turning to Personal Loans Over Credit Cards

The number of people taking out loans in the US has been steadily on the rise in the years since the mortgage crisis. As the economy recovers, more consumers are avoiding traditional credit alternatives in favor of better deals and safer terms thanks to new loan options.

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No Credit Check Loans: Reasons to Avoid Them and the Alternatives Available
Jul. 12, 2021
3 min read

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.

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How to Get the Most Out of Personal Loan Interest Rates
Jul. 12, 2021
2 min read

How to Get the Most Out of Personal Loan Interest Rates

Whether it's for purchasing a car or house, consolidating debt or for general expenses, you may be considering taking out a personal loan. Personal loans can be secured or unsecured, at fixed or variable rates, and range from as little as several hundred dollars to $100,000 for major expenses.

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Find the Right Unsecured Personal Loan for You
Jul. 12, 2021
4 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.

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Compare 5 Long-Term Personal Loan Lenders
Jul. 12, 2021
4 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.

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How to Find the Right Loan For You
Jul. 12, 2021
1 min read

How to Find the Right Loan For You

Now that you’ve decided to take out a loan, how do you decide which type is the right personal loan for you? The first question to ask yourself is, “What is this loan for?” Is it for a small business or personal use? Is it to pay for a big expense, like a wedding or a car, or to cover personal expenditures? Is it to help you buy a home? The loan’s purpose will impact which type of loan is right.

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Personal Loans 101
Jul. 12, 2021
4 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.

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Paying Off a Loan Early: Should You or Shouldn’t You?
Jul. 12, 2021
2 min read

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.

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Personal Loans vs Credit Cards: Which Should You Choose?
Jul. 12, 2021
2 min read

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.

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What to Look For When Applying for a Personal Loan
Jul. 12, 2021
3 min read

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.

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SoFi Community: This Loan Provider Wants to Take You Out For Drinks
Jul. 12, 2021
3 min read

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.

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Personal Loans for Bankrupts: How to Get Back on Your Feet
Jul. 12, 2021
4 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.

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Secured vs. Unsecured Loans in a Nutshell
Jul. 12, 2021
1 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.

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7 Signs an Online Loan Company is Legitimate
Jul. 12, 2021
2 min read

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.

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Personal Loans: Are They Always a Good Idea?
Jul. 12, 2021
3 min read

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.

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Compare Loan Companies for Every Loan Type
Jul. 12, 2021
3 min read

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.

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Why Payday Loans Are a Bad Idea and What You Can Do Instead
Jul. 12, 2021
2 min read

Why Payday Loans Are a Bad Idea and What You Can Do Instead

A payday loan (or cash advance loan) is a high-interest loan that borrowers can turn to when they have an immediate need for cash. Payday loans are usually for small amounts (anything from $50-$1,000), and are offered by non-bank lenders and marketed mainly to low-income customers.

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6 Steps Towards Getting a Competitive Personal Loan with Low Rates
Jul. 12, 2021
3 min read

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.

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SoFi-Wealth: The Wealth Management Platform for the Average Joe
Jul. 12, 2021
2 min read

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?

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The Dos and Don’ts of Taking Out a Personal Loan
Jul. 12, 2021
4 min read

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.

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5 Facts About Personal Loans You Need to Know
Jul. 12, 2021
2 min read

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.

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SoFi vs. Marcus: Which Personal Loans Company is Right for You?
Jul. 12, 2021
3 min read

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.

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Compare Different Secured Personal Loans of {year}
Jul. 12, 2021
4 min read

Compare Different Secured Personal Loans of 2022

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.

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Find the Right Home Improvement Loan for You
Jul. 12, 2021
4 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.

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A Guide to Finding a Personal Loan with a Cosigner
Jul. 12, 2021
2 min read

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.

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This 7-Step Guide Will Ensure You Choose a Personal Loan Provider You Can Trust
Jul. 12, 2021
3 min read

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.

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Direct Lenders vs. Lending Marketplaces: What’s the Difference and Which is Right for You?
Jul. 12, 2021
2 min read

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.

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10 Personal Finance Habits That Will Set You Up For Financial Security
Jul. 12, 2021
4 min read

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.

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