You want a vacation — one you’ve been planning for a while. But how do you pay for it?
Sometimes your savings cannot cover all the expenses. Carrying a balance on credit cards leave you susceptible to late fees, foreign transaction fees and extra interest.
If you have good credit, a vacation loan may be a good way to finance your getaway.
It works like this:
It’s that simple.
A vacation loan from Marcus works the same way as a personal loan. The only difference is that it is intended to fund travel expenses.
Many Marcus customers receive their funds within 5 days — meaning you won’t have to wait long to start booking flights and begin planning your itinerary.
One major bonus to using a [personal loan for vacation is that loans from Marcus have fixed rates and a fixed term. This means you’ll always make the same payment every month without any fees or fluctuating interest rates over the life of the loan.
Possible ways to use your Marcus vacation loan:
Let’s say you want a loan to fund some of the expenses of your trip but you want to save up to fund the other expenses. You can make the most of your money with a high-yield savings account. High-yield savings accounts offer higher saving interest rates than traditional savings accounts, helping you earn money faster. Benefits of a Marcus vacation loan
No sign-up fees. No late fees—you just pay interest for the additional days. No prepayment fees. No fees, period.
Your interest rate is fixed, so you won’t have to worry about changing rates over the life of the loan or fluctuating monthly payment amounts.
The application process is easy — compared to packing your suitcase, that is. Many Marcus customers receive their funds within 5 days.
Marcus vacation loans are available from $3,500 to $20,000 with terms from 3 to 6 years.
The application process for getting a Marcus vacation loan is simple and takes less time than finding someone to watch your dog while you’re away.
You apply right here on Marcus.com. All you need to provide is the information requested, such as the loan amount, your name and annual income.
Then, you can see your loan options and if you qualify, select the fixed-rate loan that suits your needs.
Before you apply for your loan, keep these things in mind:
Your approval for the loan is based on multiple factors, including your creditworthiness, so it’s a good idea to see where you’re at.
Do some preliminary research to determine a good dollar amount to apply for.
Examine your finances to see how much, with your income and expenses, you can realistically afford to pay monthly.
It’s always a good idea to read up on your options before jumping into a loan.