46% of millennials report having taken out personal loans. Here’s everything you need to know about your options.
Millennials have developed a unique way of looking at personal finance, dealing with credit, and utilizing financial services.
And now we’re at a stage in our lives where we’re starting to earn more money and have built up a credit history. But we’re also dealing with burdensome credit card debt.
Rest assured, lenders are taking notice and offering us more options than ever.
Rather than having to apply with our banks, online lenders are waiting to compete for our business by offering the best, most flexible terms.
Check out our breakdown of the top 3 online lenders for millennials.
TL;DR: LendingTree enables you to compare multiple lenders simultaneously. It’s the most popular online lending marketplace with millennials.
In-depth: LendingTree simplifies the loan search process by giving you the ability to compare offers from multiple lenders simultaneously.
Many of the lenders specifically work with younger borrowers who have poor credit or who are looking for a personal loan to manage credit card debt.
To get started, fill out a single application that pre-qualifies you for a range of different loans.
TL;DR: AmOne is another online marketplace lender, offering an excellent variety of loan options for any purpose. There are no income or credit requirements.
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In-Depth: AmOne connects you with numerous lenders that specifically work with millennial borrowers looking for a personal loan to pay off credit card debt.
Through AmOne, you can get both secured and unsecured loans in amounts ranging from $1,000 to $100,000.
AmOne’s customer service is widely praised in online forums. They’re dedicated to helping borrowers find the loans and financial services that best match their financial profiles.
TL;DR: LendingPoint offers fast short-term personal loans up to $25,000 to borrowers with poor to fair credit. Their terms are especially flexible.
In-Depth: LendingPoint’s short-term personal loans are ideal for anyone who has fair credit, since their process takes a holistic view of your entire financial situation.
So even if your credit isn’t good, you still have other ways of proving you’re a reliable borrower. This enables LendingPoint to offer lower APRs than other poor-credit lenders.
Millions of our peers are using personal loans to get their finances under control, pay-off credit card debt and make big purchases. Get started today with one of these 3 online lenders.