A personal loan for fair credit is one that has a minimum credit score requirement that falls within the fair credit score range. It works the same as other personal loans. Typically, no collateral is required, the lender issues you a lump sum payment and you pay it back in fixed monthly installments. The only difference is that a lender may charge you more in interest and fees because of your credit score.

When you take out a personal loan for fair credit, you can use it to pay for most expenses. Personal loans are commonly used for emergencies, home improvement projects or high-interest debt consolidation.Continue reading→

People with less-than-perfect credit scores may think they need to accept any payday loan, regardless of interest rates. A low credit score will not yield the same interest rates as a borrower with excellent credit. However, APRs over 36% are expensive and could result in hundreds or thousands of dollars in fees in addition to the money you borrow.

Always compare rates and calculate how much interest you’d have to pay for your loan amount. Consider if the rate is reasonable enough for you to make the monthly payments.Continue reading→