Access to your free monthly credit score

  Ability to change your due date

  Fast funding

  May charge an origination fee of up to 8.00%

  Limited loan use

  Doesn't offer joint applications

• You can save money by comparison shopping for the lender that offers the lowest possible APR.
• Generally, the interest rates are fixed, making it easier to budget.

• Qualifying for lower APRs requires a strong credit profile, though you could always improve your credit score and reapply at a later date.

• Personal loans have a definite payment schedule, which means borrowers know exactly how long it’ll take to pay off what they owe.
• Personal loans are generally unsecured, which means you don’t have to supply collateral.

• Missing one personal loan payment could result in a defaulted debt, causing harm to your credit file and future creditworthiness.
• While your personal property isn’t at risk with unsecured loans, you can still be sued by a debt collector if you fall behind on payments.

• Many lenders allow you to borrow a wide variety of amounts for a wide variety of purposes.
• There are plenty of no-fee lenders to choose from.

• Some lenders charge an origination fee that can be as high as 12% of the loan amount.
• Less scrupulous lenders hide fees or offer scant repayment protections.