If you’re considering consolidating your credit card debt, you basically have two options: a personal loan or a balance transfer. A personal loan is a loan you take out with a bank. You use it to pay off all your credit cards, and then you pay off the loan over time. A balance transfer is when you move your balances from multiple credit cards onto a single credit card.
But which is better? Personal loans have lower interest rates and a fixed end date for paying off your debt. Balance transfers can offer attractive terms, but there are some things that can be problematic over the long term.
Want to crush your debt — yesterday? Well, we can't tell you how to travel back in time ... but we can tell you how to create a more financially secure future, starting today.
Paying off your balances fast might sound like the impossible dream, but there are ways to do it. Here are five things you can do right now to get debt off your back.
When you consolidate your credit card debt, you replace multiple credit card accounts with a single loan or line of credit.
Many people with significant credit card debt never consolidate — and one of the top reasons is worry about what will happen to their credit score. But consolidating can actually have a positive effect on your score, as long as you make payments on time.
There are many reasons you might need a quick infusion of cash. Maybe to pay for a wedding, a vacation, or a home improvement project, or deal with a medical or financial emergency. If you don’t have the money you need in your savings account, you’re not alone. A recent CNBC poll found that a whopping one in three Americans has $0 saved.
Your best options for fast money are credit cards or personal loans, but personal loans are likely to cost you a lot less over the long haul. They also look better on your credit report. Here's what you need to know.
There are situations in your life where you may need to come up with more cash than you have in reserve — and fast. Or maybe you want to splurge on something you desperately want, but don’t have the savings for just yet.
A personal loan is one way to get a quick cash infusion that can help you meet those goals.
© 2019 Nitro College. All Rights Reserved.
Disclaimer: The information obtained throughout the Nitro site is intended to be used for educational purposes only. All product names, logos, and other trademarks displayed within the Nitro site are the property of their respective owners. Here at Nitro we strive to provide you with accurate, up-to-date information, but suggest checking the source directly. We recommend consulting a licensed financial professional before making any financial decisions. This site may be compensated through our partner relationships. NitroCollege.com is not endorsed or affiliated with the U.S. Department of Education.