Universal Credit may not be as well known as most other personal loan lenders out there, but it still offers a strong product for those with lower credit scores. Read on to learn more about Universal Credit’s personal loan.
Universal Credit is a lender offering personal loans, which is a form of installment credit. That means you’ll borrow a lump sum of money and pay it back in fixed, equal increments (including interest) over a specified period.
Start by checking what estimated interest rate you qualify for with Universal Credit. You’ll need to submit a few pieces of information, like how much you’re borrowing and why, your contact information and more. This is free and won’t lower your credit score.
Once you know what rate you’ll qualify for with Universal Credit, you can repeat this process with other personal loan lenders and compare the rates. You should always evaluate multiple offers when shopping for a loan to get the best terms possible.
If you decide to go with Universal Credit, you can apply for the loan and, if approved, you should receive funding within one business day.
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