Comodo Logo
+91-22-6692-9100,
+91-22-6692-2101
9:30 AM - 6:30 PM
(Mon-Sat)
NBFC Logo

NBFC-P2P

Registered with RBI

CoR No. N - 13.02258

OMLP2P Blogs

Personal Loan Vs Credit Card? Which One is Better for Funding Travel needs?

Everyone needs a holiday occasionally to unwind. But whether it is 7 days backpacking trip or a weekend getaway, travelling can weigh heavy on your pocket. Many people opt for a credit card or a personal loan to fund their expeditions. But is one better than the other?


Using Personal Financing for Travel
Personal financing offers various advantages. It is an unsecured loan, which can cover all your expenses associated with travelling, including air tickets, travel packages, stay charges, travel equipment, etc. Nowadays, you can apply for personal financing online with minimum documentation requirements at OMLp2p.


The eligibility criteria for personal finance mainly includes your Credit score, Age, net monthly income, etc. With a quality Credit score, you can qualify for a sizable loan amount at lower interest rates.


Using Credit Card for Travel
With credit card, you can directly pay for your hotel reservations, banqueting, transport fees, and more on your journeys. Credit cards also offer superb incentives, such as reward points, cashbacks and coupons for spending.


Moreover, you can postpone your repayment by making minimum payments monthly. You can simply improve your credit limit with decent payment record, a quality Credit score, and a pre-existing relationship with the service provider.


Personal Loan vs Credit Card: Which is Better?
Personal Loan and Credit Card come with their own set of benefits. With Credit Cards, you can pay for your travel expenditures in real-time at 0% interest for the first 35-50 days. Nevertheless, the interest rate charged after the preliminary period can be pretty high in comparison to the Personal Loan interest rate.


With Personal Loan, as you get the amount upfront, you can strategies/plan your travel well in advance and avoid unnecessary spending. Similarly, unless you have a remarkably high credit card limit, you can borrow a relatively higher loan amount.


So, the answer which is a better option for travel? Well, It all Depends on your loan requirement, need for flexibility, loan tenure and other privileges, only you can determine which option works the best or better for your needs. Every financial institution comes with unique set of advantages for Personal Loan and Credit Cards. Hence, understand your needs and evaluate the advantages. The worthier contender will shine through.


Fund your travel plans with OMLp2p
Whether you want a lavish holiday or need funds for a trip, OMLp2p can help you with your needs. We offer Personal Loans for Travel starting at an attractive interest rate of 9.49% and flexible tenures up to 3 years.

Comments

Post Comment
Please Enter Comment

Borrow Money Online at OMLP2P.com, A New and Better Way of Taking Personal & Business Loans
IMC's India calling conference - March 25, 2019
OMLP2P - Zee Business
OMLP2P Lending Process

  • Categories
  • Popular
  • Comment
  • Peer to Peer Lending - Future of Digital Loan Market in India

    Great Post

    Read More....
  • How do I apply online for an instant personal loan?

    Required 40000 loan for medical emergency

    Read More....
Tag
Peer to Peer Lending (5) Investment (13) P2P Lending (10) Stock Market (1) SIP (1) CIBIL (2) Credit Rating (1) Loan (32) Personal Loan (22) P2P Loan (6) Borrow Money Online (5) Invest Money Online (4) Peer-To-Peer Lending (1) Earn Higher Returns (1) Instant Personal Loan (1) personal loans (2) Quick Online Loans (1) p2p loans (2) travel loan (2) holiday loans (1) personal loan for travel (1) personal finance (1) investing (2) P2P Investments (1) personal loan (22) online personal loan (1) compare personal loan (1) cash crunch (1) all purpose loan (1) Business Loan (8) Working Capital (2) Equipment Financing (1) Business Expansion (1) Office Purchase (1) Debt Consolidation (1) Travel Loan (2) Home Improvement (1) Home Renovation (1) equity shares (1) Equity Market (1) P2P trends (1) P2P market (1) Investing in P2P (1) Peer-to-Peer (P2P) Lending (1) small business loan (2) business loan (8) p2p loan (6) Business Loans (1) Protection Insurance (1) P2P Loans (2) Small Business Loan (2) Emergency Fund (2) Defense Against Debt (1) Financial Hardship (1) Building Wealth (1) wealth building strategies (1) keys to building wealth (1) Working Capital (1) Capital of a Business (1) Working Capital Management (1) p2p lending (10) investment portfolio (1) Borrowing from Friends and Family (1) Loans from Family and Friends (1) Borrowing money from a friend (1) Tax Provision (1) P2P Investment (2) Income Tax (1) Annual Percentage Rate (1) APR (1) Loan Repayment (1) Defaulted Loan (1) Auto Investment (1) Post Lockdown (1) Financial Challenges (1) Small Loans (1) Credit Score (2) CIBIL Score (1) EMI Payment (1) Loan Payment (1) Equated Monthly Installment (1) Credit History (1) alternative assets (1) alternative finance (1) Diversified portfolio (2) Medical Emergency (1) Top Up Loan (1) Family Finances (1) Unsecured Loan (1) Personal Loans (2) Credit Cards (1) Loan Application (1) Interest Rate (1)
Call Now
Loader...