If it I have good credit, how could I get a small loan?

Question

I have good credit, but I am currently stretched thin paying on several cards and medical bills at once. I would like to consolidate everything down into one bill. What I need is a loan of like $5,000.

I don't know if banks generally give out such small loans... If not, where should I look?

Answer 1

Favorite Answer

Places that will do a $5000 personal loan:

- American Express Personal Loans

- Discover Personal Loans

- Citizens Bank Personal Loans

- Marcus by Goldman Sachs

I have personally used the top three over the years. However, I was pre-approved.

Answer 2

Most banks don't give tiny loans like this.

If you aren't able to pay off these bills on your own, how can you pay back the loan used to pay them off??? Do you see the problem here?

Answer 3

Have you asked your bank?

Answer 4

You have already been given small loans - by the cc companies. Try your bank, MAYBE a new cc with an interest free period, then your parents. Otherwise, just keep making payments on time.

Answer 5

If you have collateral - a house, they will likely give you the loan. If you do not, you are not likely to get a loan with debts outstanding and little way to pay back the new loan.