When you need money instantly, there are several options to consider - two of them are personal loans and credit cards. Both can help you for what you need, but
which one is better for you?
- Convenient when you don't have the money available for purchases of lower monetary amounts.
- Supports your monthly needs, such as unanticipated and immediate situations.
- Your line of credit is renewable. When you pay your balance within a specific amount of time, the Bank increases the available credit limit on your card.
- As you pay off the credit card balance, the line of credit is available for use.
- There are credit cards offers where you pay 0% interest on purchases when you pay off the entire debt before the offer ends.
- More flexible monthly payments, depending on the balance.
- Convenient when you need to borrow money long-term.
- Get a fixed rate until the maturity of the loan, which is usually lower than that of a credit card.
- Fixed monthly payments.
- Good option to consolidate debts and lower interests of financial responsibilities.
1Subject to credit approval. Certain restrictions apply.