Should You Take Out a Personal Loan to Travel for a Funeral?

The loss of a loved one can be tremendously painful. And it can be even more difficult if that loved one isn't local.

Honoring someone important to you by attending their funeral may be something you're eager to do. It may also be something you don't have enough cash in your savings account to cover.

In many cases, funerals are an unexpected expense -- both for the people who have to put them together and the people who feel compelled to attend them. So if you don't magically have the cash on hand to travel to a funeral, that's understandable.

As such, you may be looking at borrowing options to attend that important event. And a personal loan could end up being your best borrowing choice.

Why it may be best to borrow via a personal loan

You might assume that charging your travel costs on a credit card is your best option, provided your cards aren't maxed out. If you have that line of credit already available to you, you won't have to wait around to get approved. And in the case of a funeral, you may only have a few days' heads-up that you need to travel.

But the interest rate you pay on a credit card balance could end up being extraordinarily high. So a better bet may be to take out a personal loan, especially if the costs you'll incur will extend beyond just a flight.

It may be that you want to not only travel to a funeral, but also spend a week or two with family after the fact. That might require you to rent a car and take time off from work without pay.

Personal loans commonly have a borrowing minimum. If you only need to borrow enough to cover a flight, you may not meet that requirement. But if you're looking to borrow a few thousand dollars, it's a different story.

You should also know that personal loans tend to close very quickly. And in some cases, you might have your money the same day you apply. So before you assume that a credit card is your best bet in this situation, it pays to quickly look into personal loan options.

You may be able to avoid debt altogether

If the only cost you need to finance in the course of traveling for a funeral is a flight, then before you resign yourself to borrowing via a personal loan or credit card balance, explore other options. Many airlines offer bereavement fares that could save you money on the cost of your travel.

You'll need to check each one's policy to see if you qualify. On Delta, for example, you may be eligible for a discounted fare if you're a SkyMiles member and are traveling for the funeral of an immediate family member.

Also, if you have air miles racked up, you may be able to redeem them for a free flight. Often, you need to redeem air miles in advance because availability tends to be limited. But if you're traveling for a funeral, call the airline in question, talk to someone in customer service, and see if they'll work with you.

It's never easy to lose an important person in your life. But you don't want the act of attending their funeral to drive you deep into debt if that's avoidable. So it pays to look at a personal loan if you're looking at an extended stay and added costs, as that might end up being a more affordable option than accumulating a credit card balance.