Get Rid of Your Debt 2019: 0% APR Balance Transfer or Personal Loan?
Refinancing your debt is a legitimate way to save you potentially hundreds a month in interest.
Why continue paying more interest than you have to?
One very common way to save money is by doing a balance transfer to a new credit card. It’s exactly what it sounds like. You take the balance of debt you have and transfer it to a new credit card, taking advantage of the 0% APR introductory period so you avoid paying interest. For those with good credit, it’s a tried-and-true strategy.
Check out these amazing 0% Intro APR balance transfer cards.
While a balance transfer is a great strategy, a credit card’s limit simply isn’t high enough for some debt holders. For others the upfront transfer fee (usually 3% of amount transferred) may be too much, their debt can’t be paid off within the intro period, or their credit score is preventing approval.
If any of those is your situation, a personal loan should be the next option you consider.
Like a balance transfer credit card, a personal loan could also save you hundreds a month in interest.
But personal loans grant you access to higher limits, up $50,000 with some lenders. And credit requirements are more flexible.
Personal loans don’t come with intro periods of no interest, but the interest rates are generally much lower. Depending on your credit, you could find lender rates as low as 4.69% APR with fixed rates right now!
Personal loan terms can be for as short as 6 months, or as long as 180 months, with the most common terms being 3 or 5 years. That gives you plenty of time to pay off your debt, with a smaller monthly payment that’s easier on your budget.
LendingTree can help you find real personal loan offers for amounts of $1,000 to $50,000 in 2 minutes or less.
Using LendingTree will save you plenty of time from having to get approvals individually. LendingTree only does a soft credit check, so it won’t affect your score, but checks a nationwide network of trusted lenders to see which lenders (up to 5) are most likely to give you an approval and your best rates. That’s nice.
You then see all of your real offers together online in one spot to review before you apply with the lender and terms that work for you. Did we mention it’s completely free to use?
Get the money you need to pay off your debt with a low, fixed-rate personal loan. Start now and you can get your money deposited fast, sometimes within 24 hours.