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What Is the Difference Between a Loan and Credit?

What Is the Difference Between a Loan and Credit?

The short answer: A loan is a type of credit. But not all forms of credit are loans. But it gets a bit more complicated when you consider that credit can mean more than one thing. Find out more about the difference between a loan and credit below, including the...
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What Are the Different Types of Personal Loans?

When it comes to personal loans, there are many products to choose from. Which one is right for you depends on a variety of factors, including your income and expenses, your financial needs and where your credit score currently stands. Find out more about personal...
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What Are Unsecured Loans?

Loans tend to belong to one of two major categories: secured or unsecured. It’s important to know which type of loan you have because the way they’re managed and the consequences for missing payments are different. Find out more about what unsecured loans...
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What Happens If You Don’t Pay an Installment Loan?

Not paying your bills as agreed can have a variety of negative consequences. Find out more about missing installment loan payments and what might happen below, and get some advice on steps to take if you’re feeling the financial strain of your current situation....
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What Can You Use an Installment Loan For?

Installment loans can be a great financial tool. They make it possible to spread out a large expense over numerous months or years by making monthly payments that fit your budget. They can also help you build credit for the future. Discover the many ways you can use...
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How Do Payday Loans Work, and What Are Your Alternatives?

It’s the Monday after payday. You already used most of Friday’s pay to cover bills and buy groceries, but you’re stuck on the side of the road with a broken-down car and you’re not sure how you’ll cover the repairs. At the same time, you...
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Do I Have to Get a Loan From a Bank?

Many people who are trying to get a loan figure they need to go straight to the bank and apply there. But you don’t have to get a loan from a bank. In fact, depending on your situation, getting a loan somewhere else might actually be a better option. Find out...
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Personal Loans: What Is a Guarantor?

When you apply for a service, lease or loan, the company, landlord or lender wants to be as sure as they can that you’ll make the appropriate payments. Often, they’ll use your credit history and income as a way to gauge that likelihood. A strong credit history...
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What Is the Best Reason to Give When Applying for a Loan?

When you’re applying for a loan, whether online or in person, you might be asked what you plan on using the money for. This is actually a fairly standard question, though it’s not asked by all personal loan lenders. The best way to answer this question is...
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What’s the Biggest Installment Loan I Could Get?

The biggest installment loan most people ever take out in their lives is a mortgage, with some borrowers taking out loans worth millions of dollars. But mortgages are secured loans, and they’re tied to the value of a home. If you’re looking for an answer about...
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