Loan Lister

Before you think of putting a big-ticket item on a credit card or maintaining a high level of debt for an extended period, consider a personal loan.  Personal loans offer great advantages over the standard credit card.  If you have or will incur any of the following, then it is time to look into getting a loan.

1. Make a major purchase.  Whether buying new furniture or boat, obtaining a personal loan can save you hundreds or thousands in credit car interest.  A secured (collateral-based) personal loan can offer a much lower interest rate with fixed monthly payments.
2. Renovate your home.  You do not need collateral to obtain a personal loan.  There are many types of short to long term unsecured loans available.
3. Accrue medical bills.  Sometimes medical expenses outweigh insurance coverage.  Medical treatment is both costly and necessary but putting it on a credit card is only one of these.  Personal loans are available for unavoidable expenses, such as medical bills.
4. Carry credit card debt.  If you are carrying or plan on carrying credit card debt for more than 6 months or if your introductory interest rate is about to expire, look into loan options.  Credit cards often have high interest rates that compound daily.
5. Consolidate bills.  Whether your bills are from credit cards, loans, or various other expenses, personal loans are a great way to get a handle on your budget.