You’ve likely heard financial terms like payday loans, installment loans, and revolving credit used but wondered what exactly they meant. And, if you’ve done a search for payday loan information online, you may have come across questions about whether it is an installment loan or a revolving credit. What is an Installment Loan? An installment...
At some point in our lives, we all need access to a loan to help with our needs. Three common loan types are payday loans, installment loans, and revolving credit. Keep reading for more information on these types of loans. What is a Payday Loan? A payday loan is a short-term loan with a high...
What is an installment loan? An installment loan is a loan for a specific amount of money that you pay back over time with a set number of scheduled payments. The loan term may be only a few months or as long as 30 years. As you make payments, the loan balance lowers. Installment loans...
Being approved for a loan when you have a poor credit score seems impossible! But, specific lenders specialize in installment loans for people with less than perfect credit history. When applying for this type of loan, the lender is more focused on your ability to repay the debt, than your credit rating itself. Once approved,...
An installment loan is a loan for a specific amount of money that is repaid over time by a set number of scheduled payments. Installment loan payments combine the principal loan amount with an interest rate. The loan term may be only a few months or as long as 30 years. As you make payments,...
