Information on consolidating credit card loans

The lender will pay off your credit card bills, and in exchange you’ll enter into a loan agreement with the lender to pay back the money.For a credit card consolidation loan to be worth your while, you’ll want a plan that offers a lower interest rate and/or lower monthly payments than you’re currently paying to your creditors.Debt consolidation loans allow consumers to pay off the account balances from multiple credit cards, installment loans, or other accounts with a single loan, and then to make a single monthly payment on that new loan.

This calculator does not guarantee eligibility or interest rates for credit card consolidation loans.

Please see our list of personal loan options to find and compare interest rates, as well as check eligibility.

By consolidating credit card debt with a personal loan, borrowers can pay off credit card debt in a fixed number of years and at potentially lower interest rates too.

See how much you could save with our Credit Card Consolidation Calculator below and check out our personal loan rates for consolidating credit cards.

Even worse, interest can pile up over time resulting in additional charges that make it tougher and more expensive to pay down your debt.

Rather than simply making minimum payments on your credit card, there’s another solution: credit card consolidation.

Since you have a credit card, the chance that you carry a balance is fairly high - and so is the chance that the interest rate on your credit cards is fairly high, too.

So, how can you avoid paying such high interest rates to the credit card companies whom you owe?

Here's how it works: P2is an online provider of personal loans.

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