Neither. You shouold cut your expenses and get a part time job. Pay cash!

go for the credit card, keep the payments up and increase your credit score for the long run as well.

Either will help to increase your credit score if paid timely. The personal loan will charge less interest. If you get a credit card get a low limit card and keep your balance at less than half of your revolving limit. So in your case your card would need to have a limit of at least $3700.00 in order for you to take out what you need. If you go over half if will start to negatively affect your credit score again. Make sure if you get a personal loan that the lending institution you use reports to all three credit bureaus. The same goes for your credit card. A little extra advice: Stay away from the “get it now” type of places they do next to nothing for your credit. Underwriters will actually look at that negatively when reading your credit report.

it all depends on how well you’ll behave after you get a loan. Try to pay it off in full every month. Thats the best way to up your score. Loan would be hard to get with your score and in this tough credit crisis. Try for a credit card and try to pay it off as soon as you can. There are some great credit card offers out there with 0% APR for a year so you’ll have plenty of time to pay it off without hurting u financially so much. I found this site to be very helpful to me when I wanted to find best deals on credit cards: . They also have some great articles about improving your credit. See if it helps you in any way. Good luck!

You are most likely not going to be qualified for a personal loan with 545 credit score. You can get a credit card for people with bad credit and rebuild your credit over time by using is and paying it off on time.

Today the lenders have started offering nearly all varieties of loans for people with poor credit record.They are also introducing many new loan products meant for this group. Now people with poor credit can get the same choices as those with the good or mediocre credit. Today you can use bad credit personal loans for many purposes like car purchase, vacation or even debt consolidation.

But if you have some assets to offer as collateral, your chances brighten. The primary reason why people with poor credit history do not get loans is because the lenders are scared that the borrowers will default again. But if you can offer collateral, your lender is secure in the knowledge that his money is in safe hands. You have to try and meet the repayment schedule, failing which you lose the asset.

Yes there is a site that offers you the best links for personal loan with bad credit. It helped me a lot. These links are reliable and safe.
All the best…