Along the way, we will also highlight the features of a different program that is much safer and better for long-term financial health. The idea is that this new card will have a lower interest rate than any of the cards that were consolidated.
In the best-case scenario, the consumer would open the card during a promotion at a “teaser rate.” This rate is low, sometimes zero percent, and lasts only for a promotional period, say 12 months.
dating ge vacuum tubes - Options to consolidating credit cards
If the interest rate is lower than the debt and fees are minimal, this could be a valid option.
We talked about secured debt consolidation in detail already, but let’s review.
A credit freeze literally puts a freeze on any NEW accounts, credit cards, loans, etc.
Today we are going to talk about how to consolidate credit cards by refinancing your credit card debt into a singular loan or account with a singular payment.
This will have implications on how smart of a decision it is to use consolidation and may limit how much you are able to save with this method.