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Banks also often have a wide range of loan products available, ensuring that customers can find a loan that meets their specific needs. This can make cash advances on credit cards a very expensive way to borrow money. Credit unions may be a good option for those who are looking for a lender that is willing to work with them to find a loan product that meets their needs and budget.
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Some traditional loans have strict rules about credit scores or needing collateral (like a car or house). The fees and interest rates associated with these loans can be very high, and you may end up paying much more than you borrowed.