Video: About Low-Cost Personal Loans

A few options for personal loans offered at a low cost include credit unions and cash advances from credit card companies. Repay a cash advance in 30 days with help from a financial specialist in this free video on personal loans and money management.

Video Transcript

Hi, this is Matt McKillen with Innovative Financial Group. The question posed today are what types of personal loans are out there at very low cost? There's a couple avenues for that. One that I would strongly recommend is credit unions. Credit unions generally lend their own money and they're not regulated the same way as a traditional bank and they do offer very, very aggressive rates on their personal loans and secured loans. Another way to get a personal loan with very low cost is if you maybe have a very low APR on a credit card, let's say you have a 5% rate on a credit card or some of these credit card accounts are zero interest for a certain period of time, you can actually take it in advance off of your credit card, a cash advance which you can turn around and repay within 30 to 45 days which would really give you a very minimal expense to borrow the money. American Express for example a lot of those cards do not even charge interest, you just have to repay the balance every 30 days. These are a couple examples of some very low cost personal loans that you can get through different sources. Again my name is Matt McKillen, I'm with Innovative Financial Group.

About Low-Cost Personal Loans

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