How to Payoff Credit Card Debt Fast
Many people are now on a fixed income. It does not matter if you are retired or working for an employer. You find yourself with only so much money to cover your monthly expenses, so you compensate by using credit cards. Today we are going to cover the 3 best ways to payoff credit card debt fast.
Why Using a Personal Loan to Payoff Credit Cards Can Be A Smart Idea
Most people that have a large amount of credit card debt try to use balance transfer credit cards to pay it off. The only problem with this method is that even if you can get approved, you will normally pay a 3-5% balance transfer fee to accomplish that goal. It is also more revolving debt which can get you further into debt.
The reason why using a personal loan to payoff credit card debt is a smart idea is that there is a fixed rate payment with an end date. With a personal loan you just apply online and get an unsecured personal loan. This cash is deposited directly into your account where you can use it to payoff your credit cards.
You now have a fixed interest rate with a steady monthly payment. You may pay on the personal loan for 3 – 5 years. Once it is paid off that is it and your debt is cleared.
Where Can I Find Personal Loans to Payoff Credit Card Debt?
There are 3 Ways to get a personal loan and they can all be done simply online.
One popular way is to go through a lending network.
To get a personal loan to pay off your credit card debt through a lending network just visit PersonalLoans.com
Another cool way is through a peer to peer lending network.
This is where you apply online and individual investors fund your loan through the lending platform. Once you accept the terms and the loan is funded, the money is direct deposited. To get a peer-to-peer loan you can visit LendingClub.com
If you have a lower credit score you can visit PersonalLoansDepot.com