Could you use a Personal Loan?
Everyone could use some extra money. We all have our reasons. Maybe your credit card interest rates are through the roof? Or you need to make a major purchase or something unexpected happens. That’s when a personal loan can really help. Use a personal loan to consolidate debts, cover unexpected medical bills, make home improvements, or even improve your credit.
Whatever your reasons, if you need money right now – from $1,000 up to $35,000 – SproutQuote can help steer you in the right direction.
Don’t Play the Credit Card Game
Have you found yourself signing up for new credit cards with low introductory balance transfers — only to find that the low introductory rate only lasts for a few months before it jumps through the roof? This is what the credit card companies want you to do. They know that high balance transfers are rarely paid off before the introductory period ends. Constantly opening new credit card accounts can damage your personal credit.
You don’t need to fall prey to their predatory lending practices. Apply for a personal loan with a much longer payoff period (up to 5 years), at rates that are guaranteed, and much lower than found on any credit card. You’ll be able to rely on a regular payment amount that’s manageable — helping you use time to your advantage while lowering your debt burden.
Improve Your Credit
What more, a personal loan can help you build or improve your credit by adding another line of credit to your credit report. Your lender will report your monthly payments to the three credit bureaus — Equifax, Experian and TransUnion. To improve your credit, make sure you make all of your payments on time and never miss a payment. With consistent, on-time payments, you’ll start to see your credit score improve over time.
Loan Rates now as low as 5.32% APR