
What are instant loans? Everything you need to know
Consider some alternatives before getting an instant loan.
About the author
Katie Lowery is a Bankrate editor on the Loans team, where she shapes content to help people navigate personal loans, auto loans and student loans. She’s passionate about financial literacy and strives to help consumers make informed decisions with their money.
Before joining Bankrate, Katie edited personal finance content at LendingTree and CNN Underscored Money. She has spent more than a decade editing financial and economic content and was the sole editor of several award-winning books. When she’s not exploring the latest lending trends, Katie enjoys knitting, tending to her growing plant collection and traveling with her family. She currently lives outside Austin, Texas.
Katie wants you to know
Borrowing money and managing debt can feel overwhelming, but if you have an understanding of the process and a clear goal in mind, your money can work for you. A great first step is to check your credit score and reports, then focus on improving your credit profile so you’re well positioned to borrow at an affordable rate.
Consider some alternatives before getting an instant loan.
The ICR plan could be a lifeline for parents struggling with student loan payments.
It could be smart to pay off your loan entirely or make larger payments.
Stop the credit card debt cycle and find better ways to manage your finances.
With an 18 percent rate cap, credit unions are a great option for personal loans.
Weigh the pros and cons to see if a medical loan is the right product for you.
Your secret financial weapon: A cash-flow cushion with one month of expenses.
Make sure to choose the right type of student loan for your needs.