Rates on personal loans jumped up last week. But you can still snag a reasonable rate, whether you’re looking to finance a home remodeling project, vehicle, unexpected bills or temporarily need to improve your cash flow.

Make sure you know when a personal loan will offer better solutions for your financial needs than a credit card.

Personal loan is unsecured which means you don't need a collateral to raise it. This is, in fact, the key reason for high rates of interest charged by banks on these loans