4 Signs a Personal Loan Would Be Better Than a Credit Card for Your Big Purchase

Key Signs to Choose a Personal Loan Over a Credit Card

If you're facing a significant purchase and weighing between a personal loan or a credit card, consider the following indications:

• Upfront Borrowing Needs: If you know exactly how much you need upfront, a personal loan may be more suitable.
• Amount of Funds: For larger borrowing needs, a personal loan might offer a better solution than a credit card.
• Duration of Debt Repayment: Opt for a personal loan if your debt repayment extends over a year, as it often carries a more affordable interest rate.
• Payment Habits: If you tend to make only minimum payments, a personal loan with structured payment plans could be the wiser choice to clear your debt faster.