Secured loans are quick to arrange as property is always a good form of security for lender. Consequently, terms are normally better, with larger loan amounts, longer repayment periods and better interest rates than those you would obtain for an unsecured loan.

For people with little or poor credit history, a secured loan is probably one of easiest ways to access credit.

Secured loans can be used for a variety of reasons including: home improvements, debt consolidation, mortgage arrears new car or luxury holiday.

The main benefit of a secured loan is that, typically, they offer a cheaper interest rate than unsecured loans. Getting approval for a secured loan is also a lot easier than for an unsecured loan.

If you are looking to borrow over a longer period of time and have assets available to place as security, a secured loan might be your best option to finance a large purchase, or to refinance existing debt.

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Visa and MasterCard are by far most commonly accepted credit cards, so less commonly used cards such as American Express and Discover often offer special rates for new customers. These rates are worth attention, even if you think that you may not be able to use card as easily as your previous credit cards, because transferring balance to these new cards to obtain lower interest rate may significantly lower your payments. While your AmEx or Discover Card may not be accepted as often, they can be a good tool to achieving your financial goals.

Even less commonly used are credit cards that are store specific, such as gas cards or department store cards, but these cards can offer incredible deals on interest rates. They rely on fact that consumers will often switch their spending patterns to new gas station or store, and this increased revenue makes up for lower interest rates. A slight change in your habits, such as consistently using new credit card at new gas station, can lower payments and improve credit scores.

Researching new credit cards can seem daunting, but by comparing four main factors, which are regular interest rate, rate on transferred balance, rate on cash advances, and annual fee, you can reduce your credit card payments significantly. The author runs finance website http://www.pawninfo.com about short-term loans and payday loans, and any or all of this article may be reproduced in any form as long as there is a link to website. The HTML is Pawn Shops and Short Term Loans