Credit card interest could be destroying your finances. Credit card debt consolidation loans are a simple way to refinance your debt to cut interest rates. This was originally published on The Penny Hoarder, which helps millions of readers worldwide...
You’ve got a job. You’re paying your bills. Things are going pretty well. But still, there’s that looming credit card debt you can’t seem to shake. When you think about how much you owe, you might feel a little anxious.
And the truth is, your credit card company doesn’t really care. It’s just getting rich by ripping you off with high interest rates
It’s like you can never get a break.
Let This Company Help You Get Rid of Your Credit Card Debt
But a website called AmOne wants to help.
If you owe your credit card companies $50,000 or less, AmOne will match you with a low-interest loan you can use to pay off every single one of your balances.
The benefit? You’ll be left with one bill to pay each month. And because personal loans have lower interest rates, so you’ll get out of debt that much faster. Plus: No credit card payment this month.
Take, for example, Katherine, who faced $12,000 in credit card debt. Holding her back? The 15.24% interest rate. By refinancing with a 5%-interest, seven-year personal loan, she saved $12,000 in interest.
If she’d kept on the same road, she would have paid something like $14,000 in interest alone over 25 years. Yikes.
So even if you’re simply curious about what’s out there, checking rates on AmOne won’t hurt your credit score — and can probably save you money.
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.