 TITLE: What Can a Personal Loan Be Used For? CONTENT: What Credit Score Do I Need for a Personal Loan?\n------------------------------------------------\nAs with any credit product, personal loans with the lowest interest rates are available to people with the highest credit scores. Check your FICO® Score☉ before applying. If it's in the 670-to-850 range, the lender will consider your credit rating as good to excellent. In that case, the least expensive personal loan options will be open to you.\nMany lenders do offer personal loans to people with lower credit scores, but the interest rates will rise as your scores dip. The difference in the loan's ultimate cost can be dramatic. For example, if you take out a loan of $5,000 and it has a repayment term of three years:\n*   A rate of 5% will cost you $395 in interest\n*   A rate of 15% will cost you $1,240 in interest\n*   A rate of 25% will cost you $2,157 in interest\nKeep in mind that individual lenders set their own interest rates, so you may get a better or worse rate with the same credit score. Review many lenders' rates before deciding on one. END