# Should I get a personal loan?

> Quick answer · Last updated 4 July 2026

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## In short

A personal loan can be cheaper than credit card debt for planned purchases or consolidation if you qualify for a low APR and can afford fixed repayments — but it is a poor choice for everyday spending or if you may struggle to pay.

Compare representative APRs using eligibility soft searches. Check total cost over the full term, not just monthly payment.

Consolidating cards only works if you stop using the cards. Secured loans put your home at risk.

See our personal loan eligibility guide and loan repayment calculator before applying.

## Related

- [Personal loan eligibility](https://moneyguide.org.uk/credit/personal-loan-eligibility-explained/)
- [Personal loan rates explained](https://moneyguide.org.uk/credit/best-personal-loan-rates/)
- [Credit card vs personal loan](https://moneyguide.org.uk/compare/credit-card-vs-personal-loan/)

## Primary source

gov.uk/consumer-protection-rights/loans

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Independent UK money guidance from [Money Guide](https://moneyguide.org.uk). Money Guide is not a financial adviser and does not currently earn commission on credit cards. This guide is educational information only — always check the issuer's own terms, eligibility checkers and fees before applying. 18+, subject to status. Credit is a commitment: only borrow what you can repay in full each month, because interest charges erase every reward on this page.