Credit cards are helpful devices when it comes to increasing your financial power. Everything within your credit limit is just a swipe away. The biggest advantage of credit cards is it gives you easy access to loans. Yes, whatever, you are purchasing on a credit card is on loan which you have to repay on the due date. However, most credit cards allow you to pay a minimum due, which is a fraction of the actual due. By paying this minimum due you can continue using your credit card.
While minimum due payment is a great feature of credit cards, it is also a trap that we often don’t understand. The minimum due creates an illusion of having low debt and we continue to swipe our cards. Situation gets critical when someone has multiple credit cards and that person follows the ‘minimum due payment’ method. Because minimum due payment attracts more interest and actually piles up the total debt in the long term. Sometimes, it swells up beyond what someone can repay.
Personal Loan For Credit Card Consolidation
One possible solution to this problem is credit card consolidation. In this method all your dues from multiple credit cards will be consolidated into one single amount with a lower interest rate. Now you can use a personal loan to pay off the total amount. Now you can repay the personal loan with the same money you are using to repay credit cards.
However, securing a personal loan may not be an easy task in this situation. Because your credit score will be dipped a little (if not more) because of non-payment of credit card bills and most of the banks demand a good credit score (usually above 700) before issuing a personal loan.
In this blog we will tell you about a few platforms which can help you find a lender to solve your credit card debt issue.
1. ICashLoans.com
On ICashloans.com you can get connected with multiplier lenders who are ready to offer you anything $100 to $5,000. Ideally, after submitting your information on this website you should be contacted by interest lenders stating their offers. Once you settle on the terms and conditions with the lender the money should be deposited into your bank account within 24-48 hours.
2. Rushinloans.com
Rushinloans is another great option to solve credit card consolidation in the US. This platform provides fast service and is free of any lengthy and complicated onboarding process. Simply add your basic details and requirements and you can expect helpful lenders will contact you shortly to solve your problem.
3. Clearviewloans.com
Users of Clearviewloans are highly satisfied with speedy loan solutions it offers. Hundreds of partnered lenders are just a few clicks away and they are ready to solve your loan requirement in exchange for favorable terms and reasonable APR. Feel free to apply for a loan $1,000 to $5,000, and even if your credit score is not ‘so good’, you may find lenders ready to work with you.
4. 247FastFunds.com
247FastFunds is as ready and prompt as its name suggests.Apply for loans up to $5,000 and get instant reply from a verified lender. All the lenders on this platform adhere to the federally approved APR and never charge exorbitantly. As usual to our recommendations, there is very little paperwork involved and the loan amount will be in your account in no time.
5. NeedCashInstantly.com
You can reach out to NeedCashInstantly with a request for a quick personal loan. It’s actually much easier than it sounds. Just go to the website, state your required loan amount, your current credit score, and your email address. That’s all, wait for the loan offers to reach your inbox and proceed with the one best suits your purpose.
See, compounding credit card bills are not that much of a problem if you know the right way to tackle it. Here at Allfinance.com we always try to give you the best financial advice and solutions to all your finance related requirements. Stay tuned, we will come back with such more informative blogs real soon.
