One of the more interesting findings from this report was that only 34.86 percent of
approved personal loan applicants go on to complete the process to funding.
But, after remembering that the average
approved personal loan applicant has a credit score of 741, personal loan lenders can be justified for distributing such large loans.
Not exact matches
If, after existing monthly expenses, the
applicant has $ 600 or $ 700 to spare each month, then it is likely to get a $ 2,000
personal loan approved without security.
While you can use these
personal loans for other purposes, American Express lets you pay off up to four credit cards directly, and in some cases,
applicants will only be
approved to use the
loan in this way.
Applicants not required to have account with Haverhill bank at application, but will be required to open an account in the event a
personal loan is
approved.
Only 23.88 percent of all
applicants were successfully
approved for a
personal loan, with 76.12 percent being denied.
No lender will consider
approving a start up business
loan to an
applicant that has shown little ability to keep their
personal finances in order.
It would be difficult to surmise a precise reason as to why so many (65.14 percent)
approved applicants are not completing the
personal loan process to funding.
When paying bills, consumers put
personal loans first As card rates increase and issuers
approve more
applicants with damaged credit scores, missed credit card payments are on the rise.