Are you looking to make a high-ticket purchase or take a much needed vacation? You can use a personal loan in many ways. Unlike certain credit cards that are for specific stores, you can use a personal loan on anything you need or want. Instead of incurring debt on high-interest credit cards or applying for a second mortgage, you can get the cash you necessitate via an unsecured loan.

Unsecured Personal Loans vs. Home Equity Loans
Even though home equity loans offer real strong tax advantages, there are still some very sensible reasons you should consider a personal loan instead:
  • Instant access to your funds; typically within hours from the time you submit your application.
  • Lower required borrowing amounts. You can borrow as little as $100!
  • No closing costs.

An unsecured loan is going to be your best option if you are not a homeowner, are looking to borrow a small amount of money and/or need cash fast. It can take weeks for you to get financing via a second mortgage.

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Eliminate your debt!
You can combine your high-interest credit cards into one easy to manage payment with a personal loan. If your credit card balance and interest rates are out of control, a personal loan can potentially help with debt consolidation. For example, let’s say you had to max out your credit card after your car’s transmission went out. Depending on how much you qualify for, a personal loan can take care of your credit card bills. Instead of having multiple bills with different interest rates to worry about every month, you will only have one. Interest rates associated with personal loans for paying off credit cards are also typically lower than credit cards; allowing you to save money and commit more money every month to your credit card principal.
Improve your credit score

In the example above, you have maxed out your available credit. With most major credit scoring companies, your credit utilization account for 30% of your credit score. If you have maxed out your credit balance it makes sense to apply for a personal loan. If you get approved by the bank, the personal loan would increase your available credit and your card balance would show paid off. You can also diversify your credit profile this way. Lets say you only have a few credit cards open. Getting a personal loan would diversify your credit profile to show your credit cards and an installment loan. Types of credit only amount to 10% of your credit score but diversifying your credit would increase the score.

Use your loan for whatever your needs are!
Personal loans are multipurpose. There is no limit to what you can do with the money you receive. You can use the money you receive from your loan for buying a new car, paying for medical costs, taking a vacation, making home improvements, or for whatever your needs are. 
No collateral or security needed

There is no security needed to obtain a personal loan, so your assets will remain safe.  The loan tenure is much shorter than a home or car loan. This means there is less risk for the borrower. Personal loans are more common to those who do not own any assets such as home, car, shares, etc.

Why select Personal Loans USA for your unsecured personal loan?
When you apply for a loan with Personal Loans USA you will gain instant access to your funds; getting the financial security you need, when you need it. We are one of the premier online lenders; offering programs in all 50 states. We will help you with your financial decisions and help you select a loan program that is right for your needs.