Benefits of a KCCU Holiday Loan PLUS A Special Seasonal Offer!
The holiday season is just around the corner – and so are holiday expenses! No holiday savings this year? You’re not alone.
Many families and individuals this year have been unable to save up for the 2021 holiday season. You, like many others, may feel the need to depend on credit cards for holiday expenses. Unfortunately, this may be more financially harmful than helpful. A better option? A holiday loan!
At Kansas City Credit Union, our goal and purpose is to help you make the best possible financial decisions. Keep reading to discover why a personal holiday loan for your seasonal expenses might be a better choice than credit card charges this year.
Why Holiday Loans Are Preferable to Credit Cards
Holiday loans are an excellent resource for any extra seasonal expenses from Christmas presents to travel funds. Unlike credit cards, with fluctuating interest rates and payments, you’ll know exactly how much your monthly payment will be and how long you’ll be paying off the loan. These loans are traditionally unsecured, which means they will not require collateral. Because of this, financial institutions, like banks and credit unions, rely instead on determining factors like your income, your credit score, and debt-to-income ratio to decide your eligibility.
Borrowers with good credit will most likely be able to receive a lower APR than with any credit card. Additionally, KCCU will break up your loan cost into fixed monthly payments over a predetermined amount of time, usually 12 to 60 months. Plus, a holiday loan can diversify your credit profile and provide a credit score boost as long as you make your payments on time.
Financial Advice for Holiday Loans
Only Spend What You Borrow
When you limit your spending to the borrowed amount, you’re able to avoid impulse buys or continuous credit card charges. This does mean you will have to budget your holiday season ahead of time; plan your bills, gifts, and travel expenses before the holiday season starts. By sticking to the budget and your borrowed amount, you’re able to savor your holiday season! You have the full freedom to purchase what’s in the budget, without the temptation of additional expenses.
Choose Your Lender Carefully
Use caution when searching for holiday expense resources. Some lenders are not safe options; payday loan lenders, for example, take advantage of consumers in need of quick holiday money with no credit check. These borrowers are then trapped into an expensive cycle of borrowing with short repayment terms and extremely high APRs. Holidays loans are not payday loans – you will want to verify that lenders are offering affordable loan rates with reasonable fees, per your financial situation.
An Early Holiday Present Just for you!
Kansas City Credit Union is here to help! Enjoy your holiday season and cover your seasonal expenses while successfully avoiding high-interest credit cards and predatory lenders. At KCCU, we take your financial wellbeing seriously!
This year, KCCU is offering our 12/12/12 Holiday Loan! Our Holiday Loan is the perfect option to enjoy the holidays worry-free. Cover your holiday expenses with a $1,200 loan, a 12-month term at a 12% interest rate. Each financial situation is unique. Please contact Kansas City Credit Union to discuss whether this offer, and financial decision, is right for you.
Ready to spend this season worry-free and be holiday-ready? Contact us online today!
The loan amount is $1,200; payback period for this loan is a maximum of 12 months. Rate is 12%. Offer valid now through December 31, 2021. KCCU Processing Fee of $25 will not be waived. 600+ Credit Score Required. Rates and Offer are subject to change. Standard underwriting guidelines apply. Insured by NCUA.