Personal loan prequalification: Could it help you get a better rate?

Applying for a personal loan can feel like rolling the dice, especially if you’re not sure what rate, term, or loan amount you might get. That’s where prequalification comes in: It’s a simple way to see what you could qualify for — without committing to anything — so you can shop around with more confidence. Here’s why prequalification is beneficial, how the process works, how it affects your credit, and what to do if you can’t prequalify. Why prequalify for a personal loan? Prequalifying for a persona ...