Dive into personal loan basics to learn when and how they might be a good choice for borrowing money. Additionally, Discover offers resources to help you prepare for taking out a personal loan.

Inflation and Interest Rates: What’s the Link?

What happens to interest rates during inflation and how does it trickle down to daily life, wonders the woman in the photo looking at her grocery receipt

You’ve probably noticed the most visible impact of inflation: the rising cost of things you might want to buy. You’ve probably also heard about the Federal Reserve raising interest rates.

Why is the Fed doing this? And how are higher interest rates related to rising… Read More

What is a Good Interest Rate on a Personal Loan?

Young man using computer to find more information and take notes about best interest rates for personal loans.

Have you been asking yourself how to find the best rate for a personal loan, or typed “what is a good APR for a loan?” into the search bar recently? If the answer is yes, remember: Each person’s financial situation is different.

There may be plenty of benefits to a particular… Read More

How to Use a Personal Loan to Pay Back Taxes

Two women researching paying back taxes

“Back taxes,” or taxes that are past due, sound scary—and they can be. You’re legally required to pay them to stay in good standing with federal, state, and local governments. And the longer you defer, the greater your risk of accumulating penalties and interest.… Read More