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How to Get a Loan With No Credit History

Credit Corp

Instead of reviewing your credit history, the lender will consider other factors, such as your income and employment status or collateral, to get a secured loan. Generally, most people should avoid no-credit-check loans since the added interest can make them extremely difficult to repay. What Loans Can I Get With No Credit?

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What Is a Signature Loan?

Nerd Wallet

A signature loan is a fixed-rate, unsecured personal loan offered by an online lender, bank or credit union. It’s called a signature loan because it’s secured by your signature instead of collateral, like a car or an investment account. Getting approved for a signature loan will likely depend on your creditworthiness.

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What Happens After a Personal Loan Bankruptcy Discharge?

Sawin & Shea

Unsecured loans don’t have collateral. No-credit-check lending, such as payday and title loans, often comes with unreasonable fees and annual percentage rates (APR). When seeking a new personal loan after bankruptcy, use legitimate lenders, such as major financial institutions, credit unions, or through Credit Karma.

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How Do CDs Work?

Credit Corp

Some banks and credit unions also offer a custom term length. Like traditional savings accounts and money market accounts, traditional CDs opened at a bank or credit union are protected by the Federal Deposit Insurance Corporation (FDIC)or National Credit Union Administration (NCUA) for up to $250,000 per person.

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Tips for Improving Your Credit: The Types of Accounts in Your Credit Report

Credit Corp

Auto Loans : Auto loans are issued by a bank, a credit union, or a company that specializes in automobile lending. Mortgage Loans: Mortgage loans are issued by a bank, a credit union, or a company that specializes in mortgage lending. Depending on the reason, they often do not require collateral.

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What Is a Credit Builder Loan?

Credit Corp

You can apply for a credit builder loan at institutions that also offer conventional loans, including: Credit unions: There are credit unions that offer credit builder loans. However, you must be a credit union member to apply for a loan.

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7 Things to Know Before Taking Out a Personal Loan

Credit Corp

You can get a personal loan from banks, credit unions, or online lenders. This means you do not have to offer any collateral to receive the loan. Types of collateral include owned property, a house, or a car—anything the lender can use to pay back the money owed if you default on the loan.