What a Discover Personal Loan Invitation Says About Your Credit and What You Should Do Instead
Are Discover Personal Loans right for you and your family? Do you need an affordable way to finance a big purchase or consolidate debt? If the answer is ‘yes’ then an unsecured loan might be an option you should consider.
Discover personal loans are available online to borrowers with good credit and a stable income. Not sure if you will qualify?
No matter what type of financing you need there is a solution available to you from Discover. Currently they offer a variety of loans, both secured and unsecured. So, if collateral is a problem you may still qualify.
Types of financing available from Discover:
- Auto Loans
- Debt Consolidation
- Home Improvement Projects
- Medical Bills
- Emergency Loans
Discover Personal Loan Alternatives
What happens if you get denied for a personal loan from Discover? Are there other options available to you?
The short answer is “YES!”
Although many banks have tightened their lending criteria, families just like you are getting the money they need from peer to peer lending sites.
Only a few years ago it was almost impossible to get a loan from anywhere but a bank. Unless, of course, you had the guts to ask your friends or family for money. Today there are many more options.
Two of the leading peer to peer lending sites, Prosper and Lending Club, recently reached a milestone by funding over $1 billion in unsecured loans. Unlike traditional bank loans, these unsecured personal loans were guaranteed by individual investors like you and me.
At the end of the day, peer to peer lending provides lower interest rates for borrowers and consistent returns for investors. For more information about peer to peer lending please read our in-depth guide.
While Discover personal loans offer many benefits to borrowers, just remember that there are other options available to you.
If you have not received a Discover Personal loans invitation in the mail you can still get an online loan.
Another popular option is Wells Fargo Personal Loans – read our review first to see if it is right for you.
Did you get approved for a personal loan? Feel free to leave a comment or review on your experience with Discover.