Getting a loan while shopping online

Getting a loan while shopping online

(KAIT) - The cyber shopping season is in full swing but some retailers are offering something new.

A number of retailers are offering shoppers instant loans for consumer purchases.

Julie Ingle is with Affirm, one of several companies that now offer the instant shopping loans.

"We don't charge late fees; we don't charge deferred interest, we don't charge compounding interests. So it's a simple interest product," Ingle said.

Typically you give basic information and get told whether you are approved in less than a minute.

The most important thing is to be patient and decide what is best for you.

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