How To Get Personal Loans

You want to know how to get personal loans. Getting personal loans will depend on your credit score and your debt to income ratio. There are various ways to get personal loans and various places to go and find these loans. The places you go to find a personal loan will look at you personally and decide if you meet the qualifications for the personal loan.


Things you will need:

  • Social Security number
  • Job
  • Credit history
  • The personal loan you want to get
  • Credit card


  1. You can get a personal loan through a credit card. Make sure you look at all the fees the credit card charges to give you a personal loan. The loan amount will also have to be below your limit on your credit card. You will have to decide how long you need the personal loan. If it is a large loan and will take you a long time to pay back, you may not want to get a personal loan from your credit card. The interest rates are high on most credit cards. However, if you have a special 0% interest for six months on your credit card, the loan may work for you. This is if you are able to pay the loan back in the six months. Many credit cards charge three percent or more even when they offer 0% interest. A personal loan from your own credit card is very easy, but may not always fit your situation.
  2. You can go to a bank for a personal loan. They will ask you if you have an account with them. It is important to have a history with many banks if you want personal loans from them. They will ask you the loan amount. The bank will ask why you need a personal loan. They will ask you how long you want the loan for. They will take your information. They will have you fill out some forms. Make sure you ask them the interest rate for the personal loan before you sign any papers. The bank will check out all your information and will decide if you are worth the risk.
  3. You can go to a cash place for a personal loan. These are payday loans. You go into the company and ask them for a personal loan. They collect money from you on payday. The problem with these type loans is they charge large fees. These places are good for people with bad credit. However, places like payday loan companies are reasons many people have bad credit. You have to look at the money you are losing on quick pay back personal loans like these.
  4. You can get a personal loan from a family member or friend. Sometimes, you can get the best personal loans from a family member or friend who has money to lend. You and your family member or friend can make your own terms for the personal loan. You could get a good headstart on what you are doing with a personal loan from a family member or friend. The problem with personal loans like these is when you do not pay the money back. You can cause lots of friction within your family when you do not pay back a personal loan. You can lose a friend when you do not pay back a personal loan.
  5. There are various ways to get personal loans. Getting a personal loan depends on your credit history and your ability to pay back the loan. Watch out for high interest and fees when looking for a personal loan.



Watch out for predators.

Payday loans can be like legal loan sharks.

Beware of future credit risks because of personal loan default.

Make sure you pay back a family member or friend who lends you money.

Credit cards can be good for short term loans you actually pay back.



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