dad on vacation

Finance Your Vacation

Information verified correct on March 26th, 2017

If you’re looking for ways to fund your next vacation, this guide will help.

Going on a vacation can work wonders for refreshing your mind, body and soul, whether you go alone, with your partner or with your entire family. However, finding the money to pay for that vacation isn’t always easy. Vacation financing alternatives can help you get on your way.

You can find numerous lenders across the US that offer travel loans designed for people who wish to go on vacations. You can use the money from these loans for any travel-related expense.

NetCredit Personal Loan

NetCredit Personal Loans

NetCredit offer you the chance to borrow money as alternative to bank personal loans. As you borrow more your credit score increases and your interest rate becomes lower.

  • Min. Loan Amount: $1,000
  • Loan Term: Varies upon State
  • Turnaround Time: 1 business day
  • Total Costs: Depends on your credit score.
  • Build your credit score - Must be 21+
  • No security needed
  • Confidential and secure!

    Personal loans you can apply for

    Rates last updated March 26th, 2017
    Unfortunately, none of the personal loan providers have a loan for that credit score. It you are urgent need of a small loan, you might want to check out a short term loan.
    Max. Loan Amount Minimum Credit Score Turnaround Time Requirements
    NetCredit Personal Loan
    You could borrow up to $10,000 and get an interest rate personalized to your credit score
    $10,000 300 1 business day Varies based upon state of application Go to site More
    SoFi Personal Loan
    Borrow up to $100,000 with a competitive APR and no fees.
    $100,000 660 Varies You must be a U.S. citizen or permanent resident 18 years or older. Go to site More
    PAVE Personal Loans
    Low rates and repayment terms of 2 to 3 years for loans of up to $25,000 with a credit score of 680+.
    $25,000 680 Varies You must be a US citizen, 680+ credit score and have a full time job. More
    Avant - Personal Loan
    Borrow up to $35,000 with APRs ranging from 9.95% – 36.00%
    $35,000 660 1-2 business days You must have at least a fair credit score (580 or more). Showing proof of a steady income. You must be a US Resident over 18 years old. Go to site More

    Have we missed anything in the comparison table? Tell us

    • If the provider quotes a different rate to the one above please let us know

    Personal loan lender matching services

    These matching services connect consumers with personal loan lenders. It is important to note that these services do not make credit decisions and they are not lenders, loan brokers or agents for any lender or loan broker. They can help link you up with a lender that might be able to help you access a loan.

    Rates last updated March 26th, 2017
    Unfortunately, none of the personal loan providers have a loan for that credit score. It you are urgent need of a small loan, you might want to check out a short term loan.
    Max. Loan Amount Minimum Credit Score Turnaround Time Requirements
    PersonalLoans.com
    An online loan matching service that connects you with lenders.
    $35,000 Varies by Lender 1-2 days You must be employed, 18+ with a bank account. Go to site More
    Zippyloan Personal Loans
    This broker can match you to lenders offering $100 to $15,000, often with flexible repayment options.
    $15,000 Varies by lender Good credit, a steady income and manageable debt. Go to site More
    LendingTree Personal Loan
    What everybody ought to know about LendingTree and the personal loans it provides.
    $35,000 639 If you apply during working hours on a business day you can get access to approved funds within 24 hours. You must be an American citizen or a permanent resident of the US, You must be at least 18 years of age and You should have a regular source of income Go to site More
    Accredited Debt Relief
    Offering free consultations, Accredited Debt Relief can help you lower your monthly payments and interest rates or get out from under serious debt. Call 1-877-569-5675.
    Varies based on lender No minimum Varies by lender Must be at least 18 years old and a legal US resident; additional terms may apply based on services and products used. Go to site More

    Have we missed anything in the comparison table? Tell us

    • If the provider quotes a different rate to the one above please let us know

    How do vacation loans work?

    To qualify for any kind of vacation financing you’ll have to meet some basic eligibility criteria. While some lenders require applicants to have good creditworthiness, you can find vacation loans for bad credit as well. State regulations can have an effect on the kinds of travel loans you can get. For example, you cannot get payday loans in all states.

    The kind of loan you choose and its duration will affect the maximum amount you can borrow. This also depends on the lender you work with, your credit score and your existing financial situation.

    What options do you have for a vacation loan?

    Your options for a holiday loan include:

    • Personal loans. If you have good or excellent creditworthiness you can apply for a personal loan through a bank or a credit union. The annual percentage rate (APR) for these loans is usually competitive, and some offer flexibility when making repayments.
    • Payday loans. You can apply for a payday loan if you have poor or bad creditworthiness, provided you can demonstrate an ability to repay the money you wish to borrow. Payday loans tend to attract higher APRs compared to personal loans.
    • Auto title loans. With an auto title loan you use your vehicle’s title to secure the loan. Since you’re providing collateral, you don’t have to have perfect creditworthiness. However, your credit score can have an impact on the APR you get.
    • Credit cards. Some people use their credit cards for spending while travelling, especially overseas. Using vacation credit cards makes sense if you plan to use features such as access to airport lounges, complimentary insurance cover and frequent flyer rewards. Don’t forget that you may have to pay foreign currency conversion fees as well as ongoing annual fees. Using your credit card for cash advances can see you paying a considerably high APR.

    Legs in the sun at beach

    How can you compare your holiday finance options?

    When you’re looking for vacation financing, pay attention to these aspects:

    • Interest rate. Whether you get a personal loan, a payday loan or an auto title loan you’ll have to pay interest. The APR can vary significantly even with the same kind of loans, so compare as many options as possible.
    • Fees. A low APR might not help much if you end up paying a huge amount in fees. Before you accept any vacation loan’s contract find out how much you may have to pay for application fees, loan disbursement fees, late fees and NSF fees.
    • Loan amount and term. A payday loan is typically a low-value short-term solution, while you can get higher amounts and longer terms through personal loans.
    • Repayment flexibility. One reason why people seek vacation loans is to spread the costs over time. Making monthly payments for vacation loans is common. You can also find lenders that let you make weekly or fortnightly payments.
    • Credit rating. Conventional lenders normally only accept applications from individuals who have good or excellent credit rating.

    Is there anything you should avoid about vacation loans?

    If you think you may have trouble repaying the loan on time you should avoid taking it in the first place. This is because not making timely repayments can have an adverse effect on your credit rating as well as your ability to borrow in the future.

    Some people don’t go through the loan contract in detail, which can prove to be a costly mistake. This document gives you a clear picture of all associated fees and charges, telling you how much the loan may end up costing over time, so it’s worth spending time on.

    Avoid overspending while on your vacation. If you spend more than you can afford on your credit card, the regrets will last long after the vacation is over.

    Still have questions about vacation loans?

    How quickly can I apply for a travel loan?

    If you have all the required information close at hand you can complete an online application in a matter of minutes.

    Can I use proceeds from vacation financing to go on an overseas holiday?

    Yes, you can go wherever you want to (provided you have sufficient funds). Vacation loans aren’t linked to specific destinations.

    Do I have to pay any penalty if a repay my loan ahead of time?

    This depends on the lender you’re working with, so you should check before applying.

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    US Personal Loans Offers

    Learn about our information service
    Lending Club Personal Loan

    Borrow up to $40,000 with rates from 5.99% to 35.89% APR based on your credit score.

    SWIFT Personal Loans

    Access multiple lenders with a 5-minute application for a cash advance on your paycheck.

    PersonalLoans.com

    An online loan matching service that connects you with lenders.

    NetCredit Personal Loan

    You could borrow up to $10,000 and get an interest rate personalized to your credit score

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