About Low-Cost Personal Loans

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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.

Part of the Video Series: Personal Loans
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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.

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