Should I get a personal Loan or a Credit Card? What is the difference? How do I get out of trouble with either?
Should I get a personal loan or a credit card? What is the difference? What is the better option? This is a subject of confusion for many people. It is a bit like the difference between a direct debit and an automatic payments: https://draft.blogger.com/blog/statspost/all_time/1922579775687278317/5890095679920893730 Until anyone explains to you the difference you have no way of knowing. Today I am going to explain the difference between credit cards and personal loans. When it comes to repayments there are a number of issues at play. A personal loan has set payments for a set amount of time. Payments remain the same (provided they are made ontime each month) regardless of if you are at the beginning or end of the loan. A credit card has minimum payments that differ each month depending on interest rates, how much is owing in total and a number of other issues. Early repayments A personal loan may penalise you for early repayments, they may have a break fee to help