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Christine Tait

Last updated: 8/2019

Find the Best Personal Loan for Your Needs

Whether you are wanting to take a sunny vacation or need to pay off unexpected debt, San Jose, California offers many personal loan lenders that are willing to work with people depending on their credit score and financial earnings. With that said, a personal loan may be the solution for you if you find yourself in a financial bind. However, it is important to know your credit score and follow the following steps when wanting to take out a personal loan.

Credit Score in San Jose, California

With California collectively ranking 29th on the U.S. national average, San Jose has a credit score average of 701 according to creditcardlocal.com. In this case, you may fall under a bracket that qualifies for lower interest rates on a personal loan according to your credit score. To better know exactly what your personal loan lender will be looking at, it is important to know your credit score and credit history.

In the case that there are potential discrepancies, you can dispute and adjust your credit score history before applying for a personal loan. This will better ensure that you get pre-approved for the amount you desire to apply for.

Personal Loans in San Jose, CA

3 Steps To Take Out A Personal Loan

1. Know The Industry

A personal loan, much like any other loan will be accompanied with fees and interest rates. Essentially, you are borrowing money from a lender at a price which you will pay back monthly with interest. The best thing to do to better prepare yourself is to research loan lenders that work within your credit score bracket and financial earnings. This will result in the best possible personal loan alongside minimal fees and low interest rate. Being knowledgeable about the industry and terms to look out for gives you a bit of an advantage when applying for a personal loan.

2. Meet With The Lender

Meeting with personal loan lenders is crucial when taking out a personal loan. Shopping around and setting up meetings is an important aspect of the process because it allows you to get to know the branch and lender. Most importantly, it gives insight as to what kind of customer service you will receive.

3. Ask Important Questions

Another important process when taking out a personal loan is to ask questions about the loan itself. This gives you a look as to how the loan lender functions. Important questions to ask are:

  1. What is my interest rate?
  2. Do you work with my credit score?
  3. What are certain fees?
  4. What is the length of my loan?
  5. Are there fees if I am late?
  6. Is the loan secured or non-secured?
  7. What if I default?
  8. What if I have an emergency?
  9. Who do I call in the case of an emergency?

 

Are Payday and Title Loans the Same as Personal Loans?

No not really. A payday loan, or cash advance, is easier to get and has a shorter term(unless it’s a longer installment option) but higher fees and much higher interest than personal loans. The same is true for title loans with the addition of your car being used as collateral. Be very cautious with these types of loans.

Personal Loans in San Jose

Personal Loans in San Jose,California
Map data © 2019 Google.

OneMain Financial

5132 Stevens Creek Blvd, San Jose, CA 95129, USA
(408) 249-8220
https://www.onemainfinancial.com
3.7 / 5 Stars

Oportun

201 Willow St, San Jose, CA 95110, USA
(855) 444-7001
https://locations.oportun.com/stores/oportun-8-2/
4.1 / 5 Stars

Advance America

2011 Camden Ave, San Jose, CA 95124, USA
(408) 371-5242
http://www.advanceamerica.net
3.7 / 5 Stars

Cash Max, LLC

1060 Willow St Suite 3, San Jose, CA 95125, USA
(408) 295-2274
http://www.cashmaxloans.com/
5 / 5 Stars

Christine has a solid background in personal finance as she spent the last eight years working at one of the biggest banks in the US. She managed her own team of financial advisors that helped hundreds of people with their financing needs. Her innate understanding of different financial products and loans helped her move up the ranks quickly after graduating with a degree in Business Administration.


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