Consolidation loans could save you money by offering lower interest rates for paying off credit card debt.
Refinancing credit cards using a personal loan can offer a lifeline for paying off credit card debt at a lower interest rate. The trick is finding a loan to pay off credit cards that will save you money.
“If you don’t qualify for one of the top balance transfer credit cards, using a personal loan to consolidate debt is an excellent option. A loan gives you an opportunity to pay off your debt at a lower interest rate,” says Beverly Harzog, best-selling author, credit card expert and consumer finance analyst at U.S. News.
Here’s how you can find the best loan with the most favorable terms that you have the best odds of qualifying for.