Whether you should apply for a personal loan or a credit card really depends on the why you need the money.
A credit card is a great way to make everyday purchases (interest-free, if you clear your balance every month) and manage your cash flow. But it may not be the best option if you’re making a larger purchase that will take a longer time to pay off, as the interest rate on a credit card is usually higher than an interest rate on a personal loan.
So, if you’re buying a car, boat, or caravan, or if you’re looking to pay off, refinance or consolidate existing debts, a personal loan might be a better choice.
If you’re unsure which option is right for you, speak with one of our lending specialists by calling 1300 228 228 or visit your local branch.