This won’t affect your credit score.
Cut Credit Card Debt by up to 50%
Pay off credit card debt
This won’t affect your credit score.
How to Cut Your Credit Card Debt by up to 50%
Cutting credit debt in half can be easier than you might think.
Just about everyone seems to carry at least a little bit of credit card debt.
If you feel like you’ve become bogged down with debt and don’t see any way out, don’t worry!
There are a few ways to reduce your credit card debt.
Wondering how? A smart way is with a personal loan.
When you consolidate credit card debt, you could pay less interest, pay off your debt sooner, and save more overall.
This won’t affect your credit score.
How to Eliminate Credit Card Debt?
To realistically get the job done you’ll need two tools to start eliminating credit card debt. You’ll need a fair to good credit score and a healthy dose of discipline to stick with the program.
Example APR more commonly associated with an excellent credit applicant.
A personal loan can be a great way to reduce interest, meaning the loan can be paid off more quickly than credit card debt. A lower interest rate will likely allow you to save a lot more and become debt free sooner too.
Getting out of debt can be important for reaching your other financial goals, such as saving or investing for the future. Even if making a dent in credit cards or other debts can seem challenging, especially if you’re saddled with high interest rates, it’s something you can achieve.
Chipping away at credit card debt can seem like you’re getting nowhere fast, especially if you owe with a steep APR like credit cards.
Consolidating your card balances with a personal loan at a lower interest rate can help save you money and get you out of debt faster.
Look at this scenario:
Minimum payment on $5,000 balance with 22% interest:
(approximately $125 per month (based on minimum payment: 2.5%)
If you paid the minimum balance on the card every month:
Over 30 years to pay down debt.
By the end of the payments, you would have paid over $17,000 in interest alone – on $5,000 debt!
Do you have a good credit history and steady income?
Then credit card debt consolidation could be for you.
Even with a fair credit rating, a debt consolidation loan can be less expensive than credit card debt.
When you’re able to secure good interest rates with a personal loan, you can cut your debt much quicker.
Finding a personal loan for credit card debt consolidation can put you in better monthly payments with a lower annualized percentage rate (APR).
The interest rate is the cost you will pay each year to borrow the money, expressed as a percentage rate. It does not reflect fees or any other charges you may have to pay for the loan. An annual percentage rate (APR) is a broader measure of the cost of borrowing money than the interest rate.
When comparing debt consolidation loan offers, consider the loan terms, borrowing limits, interest rates and fees to help you find the right one for your needs and budget.
This won’t affect your credit score.
If your credit rating is less than ideal, not to worry, you might still be eligible for a personal loan to consolidate credit card debt.
There are plenty of lenders out there willing to take a risk on someone with less than perfect credit history. Especially since so many people do use personal loans to help rebuild their credit by consolidating debt in an effort to make it easier and more affordable to repay.
Personal loans for bad credit can still carry a better interest rate than most credit cards. Credit cards also tend to charge more in interest than a loan issued to someone with fair to good credit too.
If you’ve gotten yourself into a financial trouble, consolidating credit card debt with a personal loan could be the answer.
Let Match Financial Help to Find the Right Option
An easy and convenient way is to use Match Financial. We can connect you with the lenders we work with based on your eligibility, making a decision easier than ever.
Take the first step to remove the burden of credit card debt and get started.
This won’t affect your credit score.
