Card consolidating credit loan

22 Jan

There are some do-it-yourself debt consolidation options that allow you to consolidate debt on your own without anyone else stepping in, such as taking out a personal credit card debt consolidation loan.

The information below is designed to help you understand how to use a personal debt consolidation loan so you can decide if it’s the right choice for you.

A 2015 Nerd Wallet study reports that the average U. credit card debt totals ,675, and that doesn't include other types of consumer debts such as auto loans.

Add in mortgage payments and student loans – plus a cost of living that's outpacing income growth – and it's no wonder that the average American is looking for credit card debt relief.

Most people who are buried under credit card debt are in the same boat — stressed, frustrated and looking for a way out.

Debt consolidation lets you roll several debts into one loan with a lower interest rate and longer payment term.

When you access your account and perform transactions on the Discover site we use 128-bit-Secure Sockets Layer (SSL) encryption technology-the most widely used method of securing internet transactions available today.

Debt consolidation doesn’t always require the assistance of a third-party organization like a credit counseling agency.

Refinancing debt is also a smart strategy, especially for those in the post-grad plateau— the early stages of a promising career—with plenty of raises just around the corner.

With fixed-rate credit cards becoming more difficult to find, and the average annual percentage rate (APR) for variable-rate credit cards just over 16% as of this writing, you could save thousands of dollars by refinancing credit card debt with a low-interest personal loan.