Installment Loans vs Credit Cards

Installment Loans vs Credit Cards

Installment Loans vs Credit Cards

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Are you looking into options to get money fast? Installment loans and credit cards are very common financial products when you need money. Before you apply, learn the difference between the two and figure out which option is best for you below.

Installment Loans
An installment loan is a loan that is paid back over time through a series of payments. Typically, you can work with your lender to figure out a re-payment schedule that works best for you. Also, most lenders do not run credit checks when you apply so your credit score does not determine your eligibility to receive a loan.

Credit Cards
A credit card allows you to borrow money from a bank to make purchases. The amount you are allowed to borrow is called your credit limit which is determined by a few factors such as your current credit score, how many existing credit cards you have, and how much money you owe. They can also be used to help build your credit score if you don’t have one as long as you make your repayments on time.

Which option is right for you?
If you need your money fast, we suggest going with an installment loan. In as little as twenty-four hours you’ll have your funds deposited straight into your bank account. When you apply for a credit card you have to wait for your approval status and then wait up to 7 to 10 business days for your credit card to come in the mail.

If your credit rating is not in good standing, installment loans would also be the better option. Most credit cards will reject you whereas lenders like CreditBox accept customers with less-than-perfect credit.

Where to apply for a loan?
CreditBox offers quick and easy online installment loans up to $4,000 depending on which state you’re applying from. All you have to do is fill out the short application, wait minutes for your approval status, sign your documents, and then your funds will be deposited directly into your bank account as quickly as the next day. Don’t waste any time, get started with the online loan application now!

If you have any questions about installment loans at CreditBox feel free to contact our customer support team. We are available 6 days a week to assist you with your financial needs. Call 888.669.4227 or e-mail
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