Pros and cons of consolidating debt
With just one debt payment every month and one fixed interest rate, you might be able to pay off your loans on a shorter timeline.
That’s mostly because credit cards don’t have a set repayment period.
For example, Avant offers interest rates ranging from APR.
That’s a massive range, and you typically need excellent credit to get the best rates.
Please do your homework and let us know if you have any questions or concerns. Between sky-high interest rates and low minimum payments, there’s no end in sight for some borrowers.
So, if you’re neck-deep in credit card debt, find out how using a personal loan to pay off credit cards could be a good option for you.
Compare rates by personal loan companies like So Fi, Citizens Bank, and Upstart to see how they stack up.Similar to when you are being sold any product or service, be sure to read the fine print understand what you are buying, and consult a licensed professional if you have any concerns.Student Loan Hero is not a lender or investment advisor.Research your options and weigh these cons against the pros before taking out a credit card consolidation loan.Not all personal loan companies offer low interest rates.