Since most personal loan services offer fixed payments, you’ll be able to plan for a payment schedule that fits your current budget and needs.
It should be noted that a personal loan is only a good solution if the interest you’re paying on the loan is less than the interest your credit card is charging.
What can you do if your new balance transfer credit card limit isn’t high enough to transfer your entire balance onto?
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I have been in the debt and credit industry for over 20 years and I consider myself to be obsessed with the subject matter, therefore, I have lots of helpful information to share with folks.
You can find me in publications like The Wall Street Journal, USA Today, Credit.com, Huffington Post, and Mashable, to name a few.
Searching for the name of the debt collection agency or bank you are dealing with, as an example, will save you a ton of time.
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Chase Slate offers a 15-month 0% intro APR on purchases and balance transfers, which gives you ample time to pay down your transferred balance.
You also don’t have to worry about an annual fee, and you can keep an eye on your credit with free FICO scores from Experian and a credit dashboard that explains the reasons behind your score.
In short order you will be able to click each topic listed and have a review you can access that will also help you determine which resources on the site will best help you, and how to get to them quickly.
Debt relief can be a really quick topic for some, and something of a journey for others.
That way you’ll pay no interest on the transferred amount and less in interest on the loan because the balance will be smaller. Although it’s not an ideal solution, considering another balance transfer credit card is definitely an option for you.
Learn more about the differences between a balance transfer and a personal loan in this blog post. While you may be tempted to apply for another card right away, it’s unwise to apply for more than one credit card in such a short time frame, as multiple hard inquiries appearing on your credit reports at once can hurt your credit.
As such, there’s no real way to determine how much you’ll be approved for until you actually apply for a card.