Do you need money ASAP but feel uncertain about how to get it? Are you wondering if you should get a personal loan, but you are unsure of the differences between payday loans, installment loans, traditional bank loans, and personal loans?
If that's the case, you've come to the right place. On the Atlas Credit blog, we help you select the best option for your specific situation.
Few people in the world live their whole lives without moments of financial uncertainty. So when you run into money troubles, don't sweat. There's an easy solution: a personal loan from Atlas Credit. A personal loan can give you peace of mind when you have been worrying about your finances, and it can break a bad cycle of debt. Read below to find out the numerous benefits of applying online for a personal loan.
The ability to sit at home in your pajamas and apply for a personal loan online has to be one of the greatest advancements of modern technology. Seriously, all you need to do is enter your information into an online form and find out if you qualify for a loan.
Since the whole process can occur over the Internet, there's no need to make repeat journeys to your lender's office. And in all likelihood, you'll be approved for your loan even if you have bad credit. How convenient is that?
2. Great in an Emergency
One of the best reasons to take out a personal loan is to pay for something unexpected that arises. You can't predict when an emergency is going to happen. Perhaps you blow a tire and don't have enough in your bank account to buy a new one. Or maybe a pipe bursts in your basement and you have to cover an emergency plumber's bill.
According to CNBC, more than half of Americans have nothing put away for their futures and have less than $1,000 in total savings. So, while we like to think we'd be ready if an emergency came around, the truth is a little bit harsh.
That's one of the reasons a personal loan can truly be a lifesaver. No matter your specific emergency, being able to receive a sudden influx of cash to handle your expenses can change your life for the better.
3. Ease & Accessibility
One thing that turns a lot of Americans away from traditional banks is how picky they can be when it comes to lending money. Banks use a far more rigorous method of approving the loans their customers apply for, and in many cases won't hand out any money without collateral first. That's right -- to qualify for a loan from your bank, you might need to put something on the table first. Your car, your home, whatever you can use for leverage to convince them to help you.
With a personal loan from a lending company like Atlas Credit, that's not only unnecessary, it's unheard of. You can apply for a personal loan online on our website or find one of the many Atlas Credit locations across Texas, Oklahoma, and Virginia. Even if you have bad credit, you'll qualify for a personal loan just by proving you have means of paying it back. It's that simple!
4. Smaller Interest Rates
Because of the flexibility of personal loans, they often have lower minimum payments and interest rates than those of competing loans. Why else would so many people use personal loans to pay off their other debts?
Plus, the personal loan industry falls under certain regulations that protect consumers by keeping the loan affordable, quick to receive, and easy to get qualified for.
5. Easy to Apply
Speaking of easy qualification, the actual application process is incredibly simple. If you apply for your loan online from your home in Oklahoma or Texas, the only hold-up is your Internet speed!
6. Different Criteria for Applicants
One of the amazing benefits of online personal loans is that you don't need to have perfect credit to get them. When you go to a traditional bank, they will look at your credit score and demand close to perfection to approve your loan. The problem is, very few people have anything close to that type of credit record.
Online personal loans are different. Lenders such as Atlas Credit offer loans to people who have poor credit because we know you are more than just some numbers on a page. If you can show right now that you have the means to pay back a loan, then you deserve a chance to repair your credit and prove your reliability.
7. Personalized Loan Repayment Schedule
A good reason for getting a personal loan online is that you can work with the lender to create a repayment schedule that fits your needs. We're not a payday loan company. That means you won't have to turn around on your next paycheck and pay the loan back in full.
At Atlas Credit, we sit down with you to determine the optimal way for you to repay your loan. We get to know you and look at dates and your budget to set a custom repayment plan with you—in terms that you can understand. Traditional banks set dates without worrying about whether you can realistically fit those numbers into your budget.
8. More Favorable Terms Than a Credit Card
Charging expenses to a credit card may seem like the easiest choice at the moment. You have the plastic in your pocket, and you don't need to fill out another application. But credit cards often have unfavorable terms, with high interest rates that can make paying off your card a nightmare when you can only afford the minimum monthly payment.
Personal loans, on the other hand, usually have lower interest rates than credit cards. You won't be tempted to use them again and again like a credit card, either. This stops you from driving up your debt load.
9. No Collateral Needed
Many traditional bank loans require some form of collateral. You have to promise you'll give up something big if you default on the loan, such as your house. When you take out a personal loan online, you don't have to provide collateral. Your word is enough for us to trust that you will pay us back. Our arrangement will save you many a sleepless night wondering if you made the right choice.
10. Pay for What You Need
One of the best things about a personal loan is that it's your money and you can use it for whatever you want. That's why it's personal—you decide how you spend the money. Whether you need to pay for a child's birthday, medical expenses, credit card debt, home improvements, or just want to Treat-Yo-Self, a personal loan is the solution. A personal loan can bridge the gap between the money you will have soon and the money you need right now. You can take out a personal loan to pay for whatever is going on now, then repay it on your own timeline.
11. Get Money Fast
When we say the process is quick and easy, we mean it. Once you're approved, you'll get your money and can start spending it!
Is it a good idea to get a personal loan? The answer is yes. Online personal loans offered by Atlas Credit are a phenomenal way to help you correct your budget, afford that repair you've been putting off, or come out the victor in a tough financial fight. If you want to save time and get money fast and without hassle, consider these many benefits of a personal loan from Atlas Credit. Fill out our online application form today to start your approval and get your money!