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What is credit history?

Your credit history is essentially your credit résumé. The same way a job résumé shows your career experience, your credit history shows the details of how you’ve managed your credit accounts. To qualify for a loan or a credit card, it helps to have a good credit history. This guide will explain the difference between credit history, credit report, and credit score. We’ll also show you how to establish or improve your credit history. Here’s what we’re going to cover: What does my credit history include? What is a credit report? What is a credit score? Why is my credit...

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58% of people would rather go to the dentist than take out a loan

More than half the people in a recent survey—58 percent—told us they’d rather go to the dentist than take out a loan. But getting a personal loan is a lot easier than you might think. Key takeaways: A personal loan is often a great option if you need money fast. Personal loans can help you build credit, can be less stressful than borrowing from a friend or family member, and may have lower interest rates than credit cards. Getting a personal loan is a simple, straightforward process. Once you’ve chosen a lender, all you have to do is fill out...

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What are the benefits of getting a personal loan?

There are many benefits to obtaining a personal loan. They can be a helpful way to make big purchases, pay an unexpected bill, and consolidate debt. Key takeaways A personal loan is an amount of money that a lender (a bank, credit union, or state-licensed lender) gives to a borrower. The borrower then has to repay the loan plus interest and fees over a set period of time. There are many important benefits of obtaining a personal loan, including debt consolidation, a predictable repayment schedule, and building your credit history. To take out a personal loan, you’ll need to review...

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What is a good personal loan rate?

What’s considered a good personal loan rate depends on your situation, financial history, and credit score (if you have one). Key takeaways The annual percentage rate (APR) is the amount of money you pay the lender in exchange for borrowing the money. The APR is made up of the interest and certain fees on your loan. The average APR on a personal loan is between 6 percent and 36 percent. The state you live in, your credit score, the type of loan (secured or unsecured), and the lender you choose can all impact the APR on your personal loan. The...

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