A personal loan is different from access to credit from a credit card in that it is normally used to finance one large purchase and has a specific repayment schedule.

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A personal loan is usually taken out to finance a specific purchase, such as a home renovation or a car, and is paid back in regular installments over a set period of time. In contrast, credit cards provide ongoing access to a line of credit that can be used for various purchases and do not necessarily have a specific repayment schedule.

A Personal Loan Is Different from Access to Credit from a Credit