This sounds something I’d like to do?! Do they actually pay off all your cards and you pay them monthly?! Like 1 of mine I stopped paying because they never helped me they never put money back on my account that a merchant messed up on and I faxed them over receipts and all and of course they never got them as they say! Which is bull! But the other 3 I pay every month but I’m just about to my limit
On them and just paying the monthly rn as I’m a stay at home mom for the time being..I also have a MasterCard rewards card that is also a balance transfer card too?! But one card as I stated is closed and obviously adding up.. would u recommend this?!
Important to note: Minimum payments on a credit card aren’t enough to keep your balance from rising. You need to pay the interest for the month and a portion of the principal each month to get the balance to actually go down.
Yes, you can consolidate but it might not save you much. In addition, you might actually get a bigger interest rate. If your credit is not great, you most likely won't get that personal, unsecured loan.
Once again, the interest rates went up at the beginning of the year so you will see an increase in your payment, finance charge and balance (UGH!). The fastest way to pay off credit card debt is to always pay the minimum + the finance charge each month. You will notice the balance drop. As the balance drops, the minimum payment as well as the finance charge will decrease. However, if you maintain the same payment, you will be adding to the principal payment and pay those nasty cards off even faster. It takes time but like you, I'm also antsy to pay them off faster.
Hi! I had been looking for a way to consolidate about $30,000 of credit card debt for a year or so and just last month I got an offer in the mail from Best Egg (it's a play on "Nest Egg" which, unbelievably, it took me weeks to figure out). I'd tried Lending Tree and SoFi and a few others and none would give me the length/term I wanted or a decent interest rate so I passed. Best Egg gave me three years and 7.99%. The application process took less than half an hour, I was approved within a day, and had the money in my checking account two days after that. I cannot recommend them highly enough. Like, if you could fanboy over a financial lending institution, I totally would. Check them out.