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Impressive-Sympathy4 t1_jdt454f wrote

Never get a personal load to pay off credit cards. You will more than likely rack the credit cards back up and have a personal loan. Just pay off what you have now and save money.

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TofuliciouslyGood t1_jdtre4p wrote

I disagree with this. A personal loan usually has a lower interest rate than credit cards and the payments are over a fixed time frame, so the interest isn't as penalizing. OP already has stated the intent to pay off the loan early and credit card charges in entirety monthly. This sounds like a reasonable plan to save some interest.

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[deleted] OP t1_jdt51ce wrote

[deleted]

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Impressive-Sympathy4 t1_jdt84wp wrote

Go look for some zero-interest balance transfer credit cards. Transfer and pay it off interest free. Usually Discover and Capital One have them

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Cardboardcubbie t1_jdtlbkh wrote

What is the interest in this personal loan because with your credit score and current market conditions I don’t see how you’re going to qualify for anything better. Better than a credit card, maybe.

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