Considating credit cards

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One method of consolidating credit card debt is to transfer the balances of multiple credit cards to a new one.Credit card providers sometimes offer low introductory interest rates or special deals on balance transfers, meaning you might end up paying less.

Since both types of loans are secured by your house, you could lose it if you don’t keep up with payments. We’re on your side, even if it means we don’t make a cent.The option that best suits you depends on your overall debt load, credit score and history, available cash and other aspects of your financial situation, as well as your self-discipline.The maximum annual percentage rate at a federal credit union is 18%.Online lenders typically let you apply for a debt consolidation loan without affecting your credit score. And while our site doesn’t feature every company or financial product available on the market, we’re proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward — and free. Ideally, that new debt has a lower interest rate than your existing debt, making payments more manageable or the payoff period shorter.

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