Credit card consolidating holistic dating uk
Consolidation works best when your ultimate goal is to pay off debt.
The four most effective ways to consolidate credit card debt are: This type of credit card charges no interest for a promotional period, often 12 to 18 months, and allows you to transfer all your other credit card balances over to it.
Nerd Wallet recommends visiting your local credit union first.
Most credit unions offer their members flexible loan terms and lower interest rates than online lenders, especially if you have a low credit score.
However, if you’ve ruled out balance transfer cards and other types of loans, this may be an option for you.
You’ll need a good to excellent credit score — above 690 — to qualify for most cards.
Make a budget to pay off your debt by the end of the introductory period, because any remaining balance after that time will be subject to a regular credit card interest rate.
Most will give you an estimated rate without a “hard inquiry” on your credit, unlike many banks and credit unions.
For online lenders, the lowest rates go to those with the best credit; rates top out at 36%.
That means you’ll need to pay more than the minimum payment due to reduce the principal and make a dent in your overall debt.