Do not inflate your credit score. If you guess "Excellent" but your real score is "Fair," the system will show you offers you cannot qualify for. This wastes time and results in hard pulls for nothing.
Many who visit PreferredRatecom are looking for debt consolidation. The platform is optimized to connect users with lenders who will pay off credit cards directly. This simplifies your monthly payments and can lower your average interest rate from 22% (credit card average) to between 8% and 15%. preferredratecom
Legitimate loan marketplaces like PreferredRateCom are required by the FTC to disclose that they are not lenders. You should see clear disclaimers stating that "This site does not guarantee approval" and that "APRs range from 5.99% to 35.99%." Do not inflate your credit score
If approved by the final lender, funds are typically deposited via ACH transfer into your bank account within 1 to 3 business days. Many who visit PreferredRatecom are looking for debt
You are never obligated to accept an offer. This allows you to shop Annual Percentage Rates (APRs) side-by-side. Even a 2% difference on a $20,000 loan over 5 years translates to over $1,000 in savings.