Blog / What's Better: Credit Cards or Personal Loans?

Person cutting up their credit cards once and for all in favor of personal loans

Everybody's been there.

Something comes up -- whether it's as simple as groceries for the family or complicated as home or auto repairs -- and you need money to pay for it ASAP.

But without the money ready to spend in your wallet or bank account, you might decide to get the money another way. The two likeliest options most people in the Corpus Christi area go for are either credit cards or personal loans.

So, which one is the better choice for you and your family? Let's compare.

Debt Issues

A credit card gives you something called "revolving debt." You continuously rack up more debt, pay it off, incur more debt, pay that off, ad nauseam. And very often, that debt comes with a crazy-high and sometimes variable interest rate.

With a personal loan, on the other hand, you have a fixed debt thanks to a set interest rate. Based on the amount of money you received in the beginning, you'll know exactly what you have to pay off until the repayment is fulfilled.

Spending Issues

You simply can't overspend with a personal loan. A personal loan allows you to borrow a set amount that covers exactly what you need, end of story.

But with a credit card, you might be tempted to push up to or beyond your credit limit -- and further into debt.

That means a personal loan is far easier to budget monthly than a credit card, and paying the minimum payment won't affect your credit score.

Credit Issues

If you do have bad credit, you may never qualify for a credit card in the first place. Or, if you do, your monthly credit limit might be painfully low while your interest rates are exorbitantly high.

Personal loans from Atlas Credit, however, don't depend on your credit score. Even if you have bad credit, you can qualify for a loan of up to $1,300 from Atlas Credit and pay it off in 5 to 12 months.

If you live in the Corpus Christi area or anywhere else in Texas and need some quick and easy cash now, apply online or at your nearby Atlas Credit location for a personal loan. We can get you situated with a great personal loan to help you get back on track -- and you can forget all about adding another piece of plastic to your wallet.


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