What is a Christmas loan?

A holiday loan, sometimes referred to as a Christmas loan, is a personal loan used for holiday expenses. Offered by most lenders, banks and credit unions, these loans are intended to help cover holiday costs, but could also be used for other expenses.

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Keeping this in view, are xmas loans legit?

In most cases, Christmas loans are never a good idea. Unless you can qualify for a competitive interest rate and favorable loan terms and conditions, you should consider Christmas loan alternatives.

In this regard, can you get a holiday loan with bad credit? Holiday loan APRs typically range from about 10% to 25%, but poor-credit borrowers may get loan offers with much higher APRs. Consider the total cost of borrowing before seeking holiday loan help.

Also know, how do I get emergency money?


  1. Personal Loans. Personal loans are a form of credit you can use for just about anything, including for emergencies. …
  2. Credit Card Cash Advances. …
  3. Payday Loans. …
  4. Get On a Budget. …
  5. Create a Plan for Your Current Situation. …
  6. Improve Your Credit.

What banks do Christmas loans?

Best Christmas Loans

Lender APR Loan Amounts
Alliant Credit Union 6.49% – 20.00% $1,000 – $50,000
Citibank 7.99% – 23.99% $2,000 – $50,000
LendingClub 8.05% – 35.89% $1,000 – $40,000
Avant 9.95% – 35.99% $2,000 – $35,000

What tax places do Christmas loans?

If you need cash while waiting for your income tax refund, some tax preparation services — including Jackson Hewitt, H&R Block and TurboTax — offer 0% interest tax refund loans. Instead of having an interest rate and repayment terms, the tax preparation service lends you money and reclaims it through your return.

Who do holiday loans?

Typically, credit unions and banks will offer holiday loans ranging from $500 to $2,500, with some willing to lend as much as $5,000. Most holiday loans also have shorter repayment terms. You’ll have only a few months to a year to pay back a holiday loan. Other personal loans give you years to repay your debt.

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