During pre-qualification, you may be asked for this information: » MORE: See if you pre-qualify (It won’t affect your credit score) With your pre-qualified online offers in hand, compare the amounts, monthly payments and interest rates.
Nerd Wallet also recommends shopping for loans from a local credit union or bank.
Assess your creditworthiness by checking your free credit score.
In general, scores fall into the following categories: Before applying, do what you can to build your score.
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Most personal loans are unsecured, meaning they don’t require collateral such as a house or car.
Options shrink and payments increase if you have no credit history or bad credit.
If you need to obtain credit, our bespoke personal loans can be used for a wide range of purposes.
An unsecured loan online is often used for consolidating credit card debt with a high interest rate.
Unsecured loans let you borrow money for almost anything.
» MORE: Where to get a personal loan Before you choose a personal loan: See if you qualify for a 0% credit card.
If you have good credit, you can probably get If you can repay the loan in that time, a credit card is your cheapest option. If your credit isn’t great, you may get a better interest rate with a secured loan.