Personal loans for consolidating credit cards

Both consumer and business credit cards are available with solid intro-APR deals offering 12 months or more of 0% interest on transferred balances, which means you can effectively eliminate your interest fees for a year or more with the right credit card.One thing to note is that most credit cards will charge a balance transfer fee equal to 3% to 5% of the total transferred amount.And while having a rewards card can be nice for when you’ve finished paying off your transfer, remember that balance transfers don’t typically earn rewards or qualify toward a signup bonus spending requirement. As with most balance transfer cards, this card charges a balance transfer fee; prepare to pay 3% of your total transaction amount for each balance transfer you make.The Blue Business Plus Credit Card from American Express has a lengthy introductory APR offer that’s good for both new purchases and balance transfers.Transfers must be made within the first four months to qualify for the reduced rate.You’ll be asked to choose your rewards type when you first enroll in the rewards program.Some balance transfer offers may also have time limitations for when you must transfer a balance to qualify for the interest deal, so read the card’s terms and conditions carefully before applying.

If you have your moves planned out in advance — i.e., have a workable budget — with well-thought contingencies in place, it’s much easier to stay on track.The APR you’re offered and the amount you can borrow with a personal loan will depend primarily on your credit profile.Online lending networks, like our expert-rated providers below, can be a good resource for obtaining multiple offers at the same time so you can find the best fit.While often worthwhile for the reduced interest rate, that fee can reduce the amount you can transfer to a particular card.Consumer | Business The consumer credit card market is downright flooded with good quality introductory 0% APR offers, with nearly every prime card coming with some type of deal alongside its purchase rewards and signup bonuses.

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The first step to consolidating debt with a personal loan is to lay out your debt total and APRs to get an idea of how much you need to consolidate and the rate at which you need to consolidate it.

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