Card consolidating credit loan
Editor’s Note: This is an updated version of a post we originally published in June 2015.
Looking for a one-stop shop for all of your credit card calculations?
Let’s say you have a ,000 balance on a fixed-rate credit card with a 16% APR, and your goal is to pay it off within three years.
Maybe that great rate only lasts six months or the annual fee eats up any savings you could enjoy from the low introductory …But if you qualify for a 7.5% APR personal loan with a three-year term, and use it to refinance your credit card debt, your monthly payment would go down by and you’d save over ,000 on total interest over the life of the loan.Of course, everyone’s situation varies, but you can use So Fi’s personal loan payment calculator to do the math on your own personal loans. Easy online personal loan application and access to live customer support seven days a week. If you lose your job, So Fi will temporarily pause your payments and help you find a new job.You might pay down your debts through a balance transfer or interest rate negotiation.Both put the control in your hands, which can be good or bad, depending on how disciplined you are.