Consolidating credit card debt your own

And if a lender is offering a personal loan without checking your credit history or credit scores, that's a big red flag.

You may also consider taking out a personal loan from a bank, credit union or online lender, which will typically offer a fixed interest rate for a period of three to five years.If you are feeling overwhelmed by the burden of debt from multiple credit cards or are having difficulty keeping track of numerous payments, debt consolidation might be the right way to go.When you consolidate credit card debt, you roll the balances from several accounts into one loan so that you only have to make one monthly payment—ideally, at an interest rate that saves you money overall.If you have relatively good credit, you can look for a credit card that offers a good interest rate, and transfer all your credit card debt to that account.Some cards even offer 0% or very low balance-transfer rates for a period of time, ranging from six to 18 months.

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