How to get a good personal loan interest rate
Having excellent credit is key to getting a good interest rate on a personal loan. Find out how to achieve it. (Shutterstock) Compared to credit cards, personal loans typically have lower interest rates. The average credit card interest rate in the first quarter of 2022 was 16.17%, compared to 9.41% for a 24-month personal loan, according to Federal Reserve data. Having an excellent credit score is the best way to get the lowest available interest rates. Here’s how to lock in a good interest rate on a personal loan. Visit Credible to see your prequalified personal loan interest rates from various lenders, all in one place. A number of factors can affect the interest rate you get on a personal loan, including: If you’re unhappy with your credit score, these strategies may help you improve it: To ensure you lock in the lowest interest rate on a personal loan, follow these steps: If you’re ready to see what interest rates you might qualify for, visit Credible to quickly and easily compare personal loan rates. Source: Read Full Article
Factors that affect your personal loan interest rate
5 ways to improve your credit score
How to get the best interest rate