 TITLE: How Long Does It Take to Get a Personal Loan? CONTENT: How Do Personal Loans Affect Your Credit?\n-----------------------------------------\nPersonal loans show up on your credit report and, in turn, affect your credit score. This can be a good thing that helps improve your score if you repay the loan as promised. If you're using a personal loan to consolidate revolving credit card balances, you could end up significantly reducing your credit utilization rate—something that could help increase your credit score. Having a healthy mix of different types of credit accounts on your credit report can also be good.\nHowever, falling behind on your personal loan payments will reflect negatively on your credit report and drag down your score. At the end of the day, you're also adding more debt to your name, which could complicate your overall financial health. This impact on your finances can also wind up affecting your credit score. Those who incur new monthly expenses or have a change in income, for example, may find it difficult to keep up with other monthly bills—even if they continue to make good on their personal loan payments. END