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Consolidating credit card debt with a loan

Deciding to consolidate credit card debt can help pay off credit cards faster and save on interest.

For certain borrowers, credit card debt consolidation is a smart strategy to manage debt.

Credit cards carry high interest rates and have repayment schedules that drag debts out and cost borrowers a lot.

But whether that is true for you will depend on a few factors. The higher your credit card rates, the better your chances of saving with a personal loan.

You’ll also want to take a look at your credit history.

Use the handy calculator below to determine the loan amount, as well as to play with different loan terms to see which are the best fit for your finances and goals.

To find a lender, it’s helpful to know what kind of loan you need and what your credit score is.

Please do your homework and let us know if you have any questions or concerns.

Credit card debt can quickly become overwhelming; it’s too easy to take on more credit card debt than is affordable.

Credit card debt consolidation won’t be right for everyone.

If you have bad credit, the personal loans you’ll qualify for could carry higher rates than what you face on your credit card.

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