Credit Card Vs. Installment Loan: Which Should You Choose
In today’s world, there are so many options for lending it can often become overwhelming, especially if you are in an emergency situation and need funds fast. When faced with financial hardship, people often turn to applying for a new credit card or requesting an increase on an existing card’s limit to make ends meet. This is often a dangerous road to travel though, as a large revolving line of credit can mean being locked into high-interest rates for years to come. If you are in need of funds to handle an immediate financial strain, there are several other options available including installment loans with EZ Money.
With an installment loan, you can borrow a lump sum, based on your income, and repay it with predictable and flexible payments over a short time.
Some of the key benefits of an installment loan over a credit card include:
- Small loan amounts that are repaid in fixed amounts keeping debt more manageable
- No accruing monthly interest
- Repaid in shorter terms than a revolving credit card line
- Less downtime-installment loans are typically funded same day
- With EZ Money’s installment loans, you can have access to the funds you need, when you need it most.
Are you interested in learning more about installment loans in your area? Reach out to EZ Money today to learn more about our in-store and online installment loan options. We look forward to helping you access cash when you need it most. Contact us today for more information!