Consolidating credit card debt bad credit

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.Consolidation works best when your ultimate goal is to become debt-free.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.By combining your existing bills into one new, monthly payment, you’ll be able to pay off most of your debts and work on becoming debt-free for the long term.But if you’re one of the many consumers with bad credit, you may be wondering whether you even qualify for a consolidation loan.While P2P loans have made it easier than ever to get a debt consolidation loan with bad credit, consolidating your debt without a loan may still be a better alternative for you.

If you’re thinking of consolidating credit card debt and you need an expert opinion to make sure it’s the right choice for you, we can help.Debt consolidation is a strategy to roll multiple old debts into a single new one.Ideally, that new debt has a lower interest rate than your existing debt, making payments more manageable or the payoff period shorter.Consolidating credit card debt is an invaluable way to solve challenges you may be facing with high-interest debt.You can lower your interest rates and your monthly payments, meaning you can get out of debt faster even though you pay less each month because you’re managing and eliminating the debt more efficiently.

Leave a Reply

  1. Girl free web cam 17-Dec-2017 04:58

    We were each the first person met from the site, and we hit it off right away.