How much (little) money can I borrow?
Many people always wonder how much money they can borrow with a personal loan. You should also ask "how little can I borrow?" The interest rates on an unsecured personal can be high because they are usually for such a short time. For this reason, even if they do have high interest rates attached to them, you can still usually save money because the rates are only for a couple of years.
Is it better to use a personal loan or a credit card?
That depends on the rates your credit card gives you versus the rates you get from a personal loan. Personal loan interest rates are usually lower than credit card interest rates. It is true that some banks do not like to give out personal loans, because their profits are very slim, but you can still find a good number of institutions that are willing to dole out personal loans. We recommend doing your homework and comparing rates before you commit to any one lender. Again, as in everything, comparison shopping will always help you get the best deal possible.
