Online security and impact on credit score are important factors when deciding to apply online SAN BRUNO, Calif. --(BUSINESS WIRE)-- 36MonthLoans.com , a leading online personal loan matching service, has gathered a list of top five consumer concerns when applying online for a personal loan. This top five was created based on interaction with thousands of customers and is meant to give a helping hand to any consumer that is interested in applying for a personal loan online. Here are the top five concerns from 36MonthLoans.com customers and their abbreviated answers: 1) What are the requirements to apply for a personal loan online and how does it work? In a nutshell, applying for a personal loan requires a user to be over 18, be a citizen or legal permanent resident of the United States , have a valid Social Security Number, have a regular source of income, have a valid checking account, and a decent credit history. Once these requirements are met, users only need to fill out an online application, after which they will get a quick pre-approval decision. If they get approved, the money will most likely be wired into their bank account by the following business day. 2) What are the rates and fees on a personal loan? Rates and fees vary from lender to lender, but the interest rate for personal loans usually goes between 30% and 95%. The APR and the amount a user wants to borrow will be affected by various factors such as credit score, employment history, and State law. 3) What credit score is required to be approved for a personal loan? Can an applicant apply with bad credit? Customers with a less than perfect credit record may also be approved for loans. The cutoff score necessary for a customer to be eligible varies from lender to lender, but credit scores somewhere between 580 and 720 are generally considered good enough. 4) Will an applicant’s credit score be affected when applying for a personal loan? If a user is only rate shopping for personal loans, their credit score will not be affected. Lenders normally perform soft checks, which don’t have a negative impact on an applicant’s credit score. 5) Is it secure to apply for a personal loan online? According to 36MonthLoans.com , users can check a website to see if it’s secure. They should look for SSL certificates, a “https” code at the beginning of the URL which attests for a website’s security, and also study the website’s data collection policy and responsible lending section. For much more detailed answers and other useful information, please check the full version of the article. About 36MonthLoans.com 36MonthLoans.com is a fully licensed credit broker that has been in the financial services industry for more than five years. They have helped well over 300,000 people get access to the short term financing they were looking for. 36MonthLoans.com provides an online financial service catering to individuals who need a personal cash loan from $1,000 to $20,000 . 36MonthLoans.com is a loan matching service. They charge no fee for their service. 36MonthLoans.com Mara Lupea , 1-650-616-4048 firstname.lastname@example.org Source: 36MonthLoans.com
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