Lenders don’t usually consider retirement assets as a factor when approving loans, “but we believe in planning, and we will reward borrowers [who have retirement asset plans] with a lower rate,” Toms says.
You’ll need a good to excellent credit score — above 690 — to qualify for most cards.
For online lenders, the lowest rates go to those with the best credit; rates top out at 36%.
Lenders don’t charge fees for paying off your loan early, but they may charge upfront origination fees that range from 1% to 5% of your loan.
Nerd Wallet’s ratings for personal loans awards points to lenders that offer consumer-friendly features, including: soft credit checks, no origination fees, payment options, short time to funding, interest rate caps of 36%, and absence of prepayment penalties.
Features are considered for their positive impact on consumers’ credit history and financial health.