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Life happens, whether in the form of unforeseen expenses, major purchases, starting a business, debt consolidation, home improvement, taking a vacation, and countless other events and changes that make up this journey we call “life.”
And these are all reasons why millions of Americans take out unsecured personal loans, which can typically offer much lower interest rates than high-interest cash advances, payday loans, or title loans that carry APRs of up to 400%!
🏦 The Old Way
In the old days, in order to obtain an unsecured personal loan, you had to take the time to drive over to various banks and credit unions and apply for a loan.
And in order to make sure you were getting the lowest interest rate, you had to drive to all of them! This process took a lot of time and in fact could oftentimes hurt you since all those banks and credit unions were individually running a credit check on you, which would ding your credit score!
Not to mention the fact that you would have to give your social security number over to some bank or credit union representative over and over again instead of just once!
👨💻 The New Way
But thanks to technology, getting a personal loan — and finding the lowest interest rate — is now easier than ever, and it can be done right from your laptop or smart phone. And here's the best part: it's 100% free. That's right. No fees whatsoever.
And, thanks to technology, you can now compare rates in 2 minutes without affecting your credit score.
🤔 Which Lender Did I Use?
I used an online personal loan company to obtain my personal loan. Because online lenders don't have as much overhead as traditional brick-and-mortar banks and credit unions, they are typically able give the lowest rates — yes, even lower than credit unions! (Believe me, I checked.)
But I'm not going to tell you which lender I used.
Why not? Because the lender that gave me the lowest rate won't necessarily be the one that gives you the lowest rate, and rather than rushing you to the lender I used, I want you to go with the lender who will give you the lowest rate. Some lenders don't care as much about your credit score, others do, others weigh your income, others weigh your assets, others take into account your age and potential, etc.
💵 Here’s What You Need To Do (And Plus You Get a $100 Bonus.)
You need to shop around at different online personal loan companies to see which one will give you the best rate — I used Credible to do this because by doing so, I didn't have to submit multiple applications to multiple lenders. And it won't affect your credit score. All you have to do is answer a few questions that should take you all of 2 minutes to get quotes from several different lenders.
You can either click on the blue button below or right here to be taken to their site so you can get started. Again, this process is 100% free and does not impact your credit score. Also, Millennial Money Club arranged a great deal with Credible that gives our readers a $100 bonus when they use our Credible $100 Bonus link.
Sign Up and Get $20!
If you'd like to get a fast $20 bonus TODAY as well as subscribe to blog updates to be informed of other $5, $10, and $20 bonuses that companies give me to pass along to my readers, sign up below!