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About this video

Personal loans are a very flexible form of credit. They can vary from $200 to $100,000; can be used for a wide range of purposes; and, can be available to borrowers of different credit worthiness. But, is it a good idea use them? What are the pitfalls of a personal loan? What should you watch out for when you are shopping for a personal loan?

You can find more detail in our article about personal loans here. And if you want to shop around for the best personal loan you can do that here.

Personal loan topics in this video

00:00 – Introduction

00:12 – What is a personal loan?

00:44 – How do personal loans work?

01:12 – How long does it take to get a personal loan?

02:25 – What do you need in order to apply for a personal loan?

02:54 – What does it mean to be pre-approved for a personal loan?

03:35 – What are personal loans used for?

04:01 – How much can I borrow with a personal loan?

04:41 – What should you do before applying for a personal loan?

05:27 – How long do I have to pay back a personal loan?

06:02 – Is it hard to get a personal loan with bad credit?

06:46 – What is a typical APR for a personal loan?

07:31 – Is a personal loan a good idea?

08:08 – How is interest calculated on personal loans?

09:16 – Is it a good idea to pay off a personal loan early?

09:54 – Do personal loans help my credit score?

10:52 – Will paying off my personal loan improve my credit score?

11:59 – Conclusion

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Jonathan Walker