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8 personal loan alternatives for bad-credit borrowers. While bad credit loans provide quick access to cash, other options may offer lower costs and — in some cases — similar speed.
What personal loan alternative should you avoid? Avoid using a payday loan as an alternative. These loans come with APRs as high as 400 percent and should only be used as a last resort.
Bad credit loans come with higher interest rates than other types of personal loans. Rates may be similar to those of credit cards , which averaged 20.66 percent in May. But credit card interest ...
While several personal loan lenders offer loan amounts as high as $100,000, bad credit lenders tend to limit you to $50,000 or less. Repayment terms: Bad credit loan terms usually range between ...
More competitive terms than bad credit personal loans. Cons. Risk of foreclosure. Funding may take longer, usually 30 to 45 days. Best for. ... Alternatives to bad credit loans.
Predatory or misleading loans can be disguised as bad credit loans. If the rate is above 35.99 percent, you'll want to find a lower-interest option. Bad credit loans can come with challenges like ...
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