Personal loans usually have lower interest rates than credit cards, making them a better option if you’re planning to borrow money for a midsize to large expense. Credit cards, on the other hand, have the benefit of letting you draw money as you go — something you can’t do with a personal loan. That said, if you’re not careful with your spending, the buy now, pay later approach of a credit card could send you down a cycle of debt, impacting your credit. In the end, the best credit product for you will depend on your money habits and what you need the funds for.