How does a personal loan differ from a credit card?

A personal loan gives you a lump sum of money upfront that you repay in fixed monthly installments over a set term, typically with a fixed interest rate. This makes it predictable and well-suited for large, one-time expenses like home repairs or debt consolidation. A credit card is a revolving line of credit you can borrow from repeatedly up to a set limit, paying off and reusing it as needed. Interest only applies to balances you carry month to month, and rates are usually variable and higher than personal loan rates. Credit cards are better for ongoing or smaller purchases, and they often come with rewards programs, but they can be harder to manage if you carry a balance.