Personal loans vs Credit card loans

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Personal loans vs Credit card loans
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Affordable

• In terms of affordability, an online personal
  loan will always win. It is affordable because
  the rate of interest is low and other charges are
  minimal. However, for a credit card, the rate of
  interest is very high, along with other charges
  like late payment, due charges, card charges, and
  consolidated charges. If you sum up the amount,
  the credit card is the most expensive form of
  loan. It is not a safe idea to use multiple
  credit cards.

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Usage

• A credit card can be used for small and petty
  expenses. It is not meant for large expenses like
  a wedding, medical emergency, home renovation,
  car repair, and various other needs. A credit
  card is always good for quick and small purchases
  like a mobile phone, gadgets, laptops, clothing,
  or accessories. On the other hand, an online
  personal loan is meant for any type of expense.
  It is good for small as well as expensive
  expenses like medical emergencies, weddings,
  travelling, or home renovation. The sanctioned
  loan amount will completely depend upon the
  eligibility of the borrower. If you have a good
  credit score and an income, you can easily get a
  good amount of loan.

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Disbursement

• A credit card comes with a pre-approved loan
  amount or credit limit. This credit limit can be
  used again and again after paying the bills for
  the credit utilized. On the other hand, a
  personal loan is a one-time disbursement of a
  lump sum amount and then one has to keep paying
  the EMI to repay the entire loan. An instant
  personal loan can be taken again only when the
  existing loan balance is zero.

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What is a personal loan?

• A personal loan is a quick or same-day loan that
  comes with a one-time disbursement. There are
  certain personal loan eligibility criteria that
  every individual needs to meet in order to get a
  personal loan approval. It is a flexible form of
  loan and can be used for anything that you can
  name. An instant personal loan is unsecured and,
  hence, the eligibility meeting is a must.

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Clix Capital Services Private Limited

• Address 4th Floor, Kailash Building, Kasturba
  Gandhi Marg, Connaught Place, New Delhi-110001
• Phone [phone]
• Email us hello_at_clix.capital
• Website www.clix.capital

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