When you think about how much credit card debt you have, you might feel a little anxious.
A lot of us are being crushed by credit card interest rates north of 20%. That means if you can only make minimum payments every month, your balance is going up and up with high interest.
It’s like you can never get a break.
Let This Company Help You Pay off Credit Card Debt Faster
If you’re in that boat, consolidation and refinancing might be worth a look.
That’s where a company like Fiona can be helpful. It can help you find personalized lending options to refinance or consolidate your debt to potentially save thousands of dollars in interest.
Fiona will show you all the lenders willing to help you pay off your credit card and eliminate the headache of paying bills by allowing you to make one payment each month.
You can borrow up to $100,000 (no collateral needed) and compare interest rates, which start at 4.99%. The idea is to secure a loan at a lower interest rate than you’re paying on your credit cards, potentially helping you save thousands of dollars. Repayment plans range from 24 to 84 months.
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 Fiona 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.
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