Author: Mary J. Turner

When you take out a personal loan, there are a lot of factors to consider: the APR, the length of your loan term, and whether or not it’s fixed or variable. But beyond these details, you must also understand how the lender is grading your credit score. That way, you can decide which type of loan will be right for your situation (and whether or not it’s worth applying). Understand the factors influencing your rate Before you compare personal loans online, it’s important to understand the factors that influence the loan’s interest rate. Interest rate is the key factor in…