 TITLE: Good Reasons to Get a Personal Loan CONTENT: How a Personal Loan Can Affect Your Credit\n------------------------------------------\nWhen you apply for a personal loan, lenders typically will perform a hard inquiry on your credit report to review your credit history and check your credit score. This causes a relatively small dip in your credit score, which typically recovers within a few months, as long as you keep up with all your bill payments. (If you apply to multiple lenders for a loan of the same amount in a short period of time, credit scoring systems such as the FICO® Score☉ and VantageScore will treat them all as a single event, so your score will only dip once.)\nYour score may dip slightly again after you've been issued your personal loan, but your score will rebound quickly as long as you keep up with your payments. If you don't keep up with your personal loan payments, your credit score will suffer a much deeper decline, as missed and late payments are the single biggest factor affecting your credit scores.\nIf a personal loan sounds like something that will help you meet your financial needs, consider using Experian's CreditMatch™ tool to browse loan offers matched to your credit profile. Whether you'll use the funds to get through a time of stress or to pay for a joyous occasion, a personal loan can be a great tool for managing expenses. END