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How Are Personal Loans Better Than Credit Cards?
July 22nd, 2010 by admin
Credit cards, like Personal Loans, can be utilized for many purposes like paying education fees or to buy a car or taking a dream vacation etc. This now poses a question as to which of the two is better? The answer to that question is really simple. Personal loans emerge as the clear winner. It is even more interesting to know that the reason that tilts the swing in its favor is the interest rate. Credit cards have a huge interest rate, almost 36% an annum, which is almost five times more than that of a personal loan. People who avail personal loans get to spend lesser (by way of interest) than those using credit cards, making personal loans the better of the two.