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Revolving credit lines are often used for a variety of purposes, including managing cash flow, covering unexpected expenses, or making large purchases. It's important to note that payday loans can be very expensive and should only be used as a last resort. Personal loans may have fixed or variable interest rates, and they may be offered with different repayment terms, such as monthly payments over a period of several years.
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Credit card issuers typically have less stringent eligibility requirements than payday lenders, and the in borrower's credit score is not typically a factor in their approval. Getting a loan from a bank can be a good option for those who need to borrow a large sum of money or who want to take advantage of a low interest rate. Payday loans are short-term loans that are typically due on your next payday.