Card Category: All Business Charge Foreign Poor Credit Pre-Paid Regular Reward - Airline Reward - Auto Reward - Cash Reward - Finance Reward - Gas Reward - Hotel Reward - Retail Reward - Sports Reward - Travel Reward - Other All Reward Cards Secured Student Intro APR: All 0.0% 1.9% or Less 2.9% or Less 3.9% or Less 4.9% or Less 5.9% or Less 6.9% or Less 7.9% or Less 8.9% or Less 9.9% or Less Time Period: All 3 Months or More 4 Months or More 5 Months of More 6 Months or More 7 Months or More 8 Months or More 9 Months or More APR (Purch.): All Less Than 6% Less Than 7% Less Than 8% Less Than 9% Less Than 10% Less Than 11% Less Than 12% Less Than 13% Less Than 14% Less Than 15% Less Than 16% Less Than 17% Less Than 18% Less Than 19% Less Than 20% Less Than 21% Less Than 22% Less Than 23% Less Than 24% Less Than 25% Annual Fee: All $0 $10 or Less $20 or Less $30 or Less $40 or Less $50 or Less $60 or Less $70 or Less $80 or Less $90 or Less $100 or Less $110 or Less $120 or Less $130 or Less $140 or Less $150 or Less

Where to Get a Loan : Consumer Finance Companies

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What Uncle Sam Doesn't Want You To Know!
Find your unclaimed money that the government is holding. $10 billion in unclaimed money is waiting for you.

Author: Jean Robbins

Article source: http://www.onlycredit.us/. Used with author's permission.

If you have no or poor credit background, a consumer finance company may be an option. Unlike banks and savings and loan associations, these finance companies borrow money from other sources and then lend that money out to the consumer. The spread, or difference between the interest rate that the finance company pays to borrow the money and the interest rate the company charges you, needs to be large enough for the finance company to profit, so the interest rate that finance companies charge is much higher than the rate that a bank or S&L charges. Consumer finance companies also tend to approve smaller loans than other institutions.

If you have little or poor credit history or are borrowing without collateral (security pledged for the payment of a loan), you pay a very high interest rate at a finance company. The company is taking on a greater risk with your loan and needs to build in provisions for collection costs if you default on the loan. If you can pledge collateral for the term of the loan, negotiate for a lower rate.

Before applying with a finance company, do your homework. Try to find something of yours that you can put up for collateral, and check your credit report for positive accumulated credit. If either of these options is available, apply for your loan at a bank or a savings and loan and discuss different options with them.

If you have a relative or friend who would cosign or pledge collateral for you, try that avenue before committing to the high interest rates of a finance company.