Have you been dreaming about your ideal vacation spot for years? The sunny beaches of Hawaii, the busy streets of Paris, the quaint villages of Italy? A romantic Caribbean cruise or guys-only fishing expedition? Perhaps you long to revisit the honeymoon spot that you remember so fondly from years ago. Maybe you keep saying someday you will go there, but that someday never comes and the years pass slowly as your dream never seems to become a reality. Saving for travel can be difficult – sometimes you start saving only to realize you need to purchase something else that is more important at the time. A travel loan is the best way to make your dream vacation happen now.
Travel loans can make traveling possible within almost any budget. Travel loans can be obtained in almost any amount and can be used not only for airfare and lodging, but for dining, entertainment, souvenirs, shopping, or even a new clothing wardrobe for the trip.
Travel loans is a financially smart decision. It can not only improve your credit score with good payment history; it makes your vacation an affordable expense by allowing you to make monthly payments on your vacation that are suited to your budget and income.
Holidays don’t normally happen after years of planning, in fact, most holidays we plan are most times a few months away. This often doesn’t give us adequate time to save up the money we need.
If you’re planning to take a holiday but need some help covering the costs, consider a travel loan. These loans give you access to funds to purchase tickets, pay for accommodation or to help with spending money and let you pay it off over an extended loan term. Here’s a list of some best travel loan lenders.
Personal loans offer several types of loans from traditional bank personal loans, peer-to-peer loans, and travel loans. This service is available in all 50 states, and loan amounts go up to $35,000 with APRs ranging from 5% to 36%.
Keep in mind, PersonalLoans is only a referral site and not a direct lender. This makes it hard to know in advance critical information that might be easier to understand with a direct lender like which fees will be attached to your loan or which APR rates will be offered.
PersonalLoans is a great option for borrowers looking for a quick loan to travel. Just a three-step application process and you can have a loan approval in minutes. Not only is it a well-designed and informative website, since PersonalLoans is a referral resource, but they can also find you multiple offers with competitive interest rates, which is a huge timesaver when shopping around.
As it name implies, it requires at least one person to “vouch” for you in order for you to get a travel loan. Essentially, you can get friends or family to pledge a certain amount of money ($100 and up) in case you don’t pay back your loan, lessening the lender’s risk and leading to a lower interest rate than you might get otherwise.
Vouch makes loans from $500 to $15,000. APRs range from 7.35% to 29.99%, with loan origination fees from 1% to 5%. You’ll need a credit score of at least 600. Terms are relatively short at one to three years.
Vouch has essentially made the traditional idea of co-signing a lot less threatening by allowing friends to back you with smaller, manageable amounts instead of being on the hook for an entire loan if you don’t pay. So if you have a big network to lean on, your interest rate will go down, and the amount of money you can borrow may go up. Vouch also may be a good option for someone who is looking for a smaller loan that they can pay back quickly since lower amounts and shorter terms are on offer.
Through Avant, you could borrow from $1,000 to $35,000 with rates ranging from 9.95 to 35.99 percent, depending on your credit history, income, and other factors. There’s also an origination fee of 0.95 to 4.75 percent.” Avant is available in 47 states and the District of Columbia.
Loans of as much as $35,000 are hard to come by if your credit isn’t top-notch, and while the APRs aren’t the lowest around, they’re still fair for an unsecured loan at that level.
Fluid is arguably the best of them all. Fluid is a mobile app designed to help millions of university students get funds quickly and build credit via a 0% internet installment loan. Borrow up to $500 for your traveling and pay back in 3 to 6 installment payments. Fluid offers a 0% interest and no fee on installment loan product. This is truly unique and one of a kind. Fluid work with major credit bureaus to help students to start building credit while they are getting a great university education. With Fluid, you can borrow $20 up to $500. Download and Sign up here now! Get your money ready for summer!
Founder and CEO
Timothy Li is a serial FinTech entrepreneur. He is the Founder & CEO of Fluid Credit, a credit building app exclusively for 22 million university students. Tim has held various C-level & advisory positions at RocketLoans (Quicken Loans), RealtyMogul, Kabbage, LoanDepot, Mosaic, Blinker, Think Finance, Experian and JPMorgan Chase. He’s is a senior contributor at CrowdFundInsider.com and speaks at various FinTech conferences.