Bad Credit Unsecured Personal Loans – Interest Rates between 12% and 18%
Posted on | January 28, 2010 | No Comments
If you are looking to borrow money at attractive interest rates then you might want to consider doing research on a bad credit unsecured personal loan. At the present time personal loans are averaging an interest rate between 12% and 18%. This is often lower than the amount of interest that you would pay on a credit card.
If you have seen the interest rate on your credit card jump over the last several months you might want to consider other options when borrowing money. Many good credit credit card holders have stated that their credit card interest rate has jumped to over 20% in the last few months. If this has happened to you than you might want to consider getting a personal loan and using that money instead of your credit card.
Credit card companies have greatly changed the way that they are doing business in 2010. It is no longer the case that they are offering very low interest rates even to the best borrowers. If you have a credit score above 740 there’s a chance you could get an attractive interest rate but it is still not as low as it used to be.
When deciding between a credit card and a personal loan it would be a wise decision to sit down with a financial calculator and determine which one will save you the most money. If you can get a lower interest rate on a personal loan then there’s no reason that you should continue to spend money on a high interest rate credit card.
Author: Jeremy North
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