 TITLE: HELOC vs. Personal Loan: Which Is Better? CONTENT: Alternatives to HELOCs and Personal Loans\n-----------------------------------------\nYou can also look into different types of financing. These may be better fits depending on your creditworthiness and how you plan on using the funds.\n*   **Credit cards**: While credit cards have high interest rates, some cards have introductory 0% interest rate offers for new cardholders. The credit limit might not be high enough for large expenses, but you won't accrue interest during the promotional period.\n*   **Personal line of credit**: A personal line of credit is similar to an unsecured HELOC. For ongoing projects, you'll be able to take draws and only pay interest when you borrow money. Some lenders, such as Upgrade, offer personal lines of credit with linked cards you can use for purchases.\n*   **Cash-out refinancing**: With a cash-out refi, you'll refinance your mortgage with a larger loan and get the difference in cash. It can have the added benefit of lowering your mortgage's interest rate in the process. Keep in mind, though, the larger loan amount means your monthly payment will likely increase.\nCheck Your Credit Score First\n-----------------------------\nWhether you're looking for a HELOC, personal loan or other form of financing, your credit score can play an important role in determining your eligibility and interest rate. Check your credit score for free with Experian, and get insights into which factors are most impacting your score. Improving your score before applying may help you get a loan with more favorable terms. END