Julie Linton

1 month ago | bankrate.com | Denny Ceizyk |Emmanuel Nyame |Julie Linton

It is possible to have multiple personal loans as long as you have the income and credit score to qualify. Lenders typically limit how many personal loans you can have with them at the same time. Having multiple personal loans could become unaffordable if you experience a sudden drop in income. Consider alternatives before taking on additional debt. A personal loan is a type of installment loan, and it’s possible to borrow more than one at a time if you qualify.

1 month ago | bankrate.com | Julie Linton |Ted Rossman

Like with a niece or nephew you haven’t seen in a while, you might be curious how buy now, pay later (BNPL) has grown since it emerged at the start of the decade. Well, it hasn’t had a ton of supervision. Consumers with subprime or deep subprime credit account for 61 percent of BNPL borrowing, according to a January report from the Consumer Financial Protection Bureau (CFPB). The analysis also noted that BNPL customers were more likely to have higher unsecured debt balances than their peers.

Nov 22, 2024 | bankrate.com | Rebecca Betterton |Julie Linton

To get preapproved for a car loan, you must gather the necessary documents and apply to multiple reputable lenders. Preapproval allows you to shop confidently and use the preapproved rate as a point of negotiation. Both prequalification and preapproval are not guaranteed offers, and final approval depends on the lender’s underwriting process and other factors. If you plan to take out an auto loan for an upcoming vehicle purchase, it is wise to first secure preapproval.