Comments on: How to combine credit cards, to pay them off in one lump sum? http://creditcardsandchecks.com/how-to-combine-credit-cards-to-pay-them-off-in-one-lump-sum/ Information on saving money on your Credit Cards and Checks Wed, 05 Aug 2009 07:27:13 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Best Rate Credit Cards http://creditcardsandchecks.com/how-to-combine-credit-cards-to-pay-them-off-in-one-lump-sum/comment-page-1/#comment-131 Best Rate Credit Cards Wed, 14 Jan 2009 10:51:13 +0000 http://creditcardsandchecks.com/how-to-combine-credit-cards-to-pay-them-off-in-one-lump-sum/#comment-131 Credit Cards charge a lot in interest, if you compare credit cards interest to personal loan interest you can generally get a lower interest rate. If you plan to repay the total amount within a few months then you shouldn't need to combine the totals just pay off the credit card with the most interest first as was mentioned before. But if your going to take longer to pay off your debt then maybe you should do the sums and compare what a personal loan can do for you. $7000 at 10% over 1 year = $733 interest charged $7000 at 20% over 1 year = $1536 interest charged There is a saving of $803 if you half your interest with a loan or lower rate credit card. Check out this credit card interest chart, Credit Cards charge a lot in interest, if you compare credit cards interest to personal loan interest you can generally get a lower interest rate.

If you plan to repay the total amount within a few months then you shouldn’t need to combine the totals just pay off the credit card with the most interest first as was mentioned before.

But if your going to take longer to pay off your debt then maybe you should do the sums and compare what a personal loan can do for you.

$7000 at 10% over 1 year = $733 interest charged
$7000 at 20% over 1 year = $1536 interest charged
There is a saving of $803 if you half your interest with a loan or lower rate credit card.

Check out this credit card interest chart,

]]> By: Sarab http://creditcardsandchecks.com/how-to-combine-credit-cards-to-pay-them-off-in-one-lump-sum/comment-page-1/#comment-130 Sarab Tue, 13 Jan 2009 15:44:47 +0000 http://creditcardsandchecks.com/how-to-combine-credit-cards-to-pay-them-off-in-one-lump-sum/#comment-130 As the others suggested do a balance transfer to a new card that offers a really low rate. Watch out for the balance transfer fees. Here are your options (assuming you have Good credit): You can easily make any changes you want and apply for the card that is best for you. As the others suggested do a balance transfer to a new card that offers a really low rate. Watch out for the balance transfer fees.

Here are your options (assuming you have Good credit):

You can easily make any changes you want and apply for the card that is best for you.

]]> By: Ash http://creditcardsandchecks.com/how-to-combine-credit-cards-to-pay-them-off-in-one-lump-sum/comment-page-1/#comment-129 Ash Sat, 10 Jan 2009 05:39:36 +0000 http://creditcardsandchecks.com/how-to-combine-credit-cards-to-pay-them-off-in-one-lump-sum/#comment-129 You can take balance from one card and put in on the other. You'll get many benifits like 0% interst, and so on, You can more on credit cards at, You can take balance from one card and put in on the other. You’ll get many benifits like 0% interst, and so on,
You can more on credit cards at,

]]> By: sunnybrooke http://creditcardsandchecks.com/how-to-combine-credit-cards-to-pay-them-off-in-one-lump-sum/comment-page-1/#comment-128 sunnybrooke Wed, 07 Jan 2009 11:50:01 +0000 http://creditcardsandchecks.com/how-to-combine-credit-cards-to-pay-them-off-in-one-lump-sum/#comment-128 There are a couple of different ways you can combine debt. First you could do the balance transfer if you have a big enough line of credit on one card, but be warned, there is usually a fee for transferring balances so you could end up just adding more to your debt. Also those 0% interest offers look good, but if they are introductory offers, let's say for 6 months, if you don't get the entire loan paid off in 6 months you could be charged that 6 months worth of interest anyway. They'll just tack it right on to your balance. You could go to a bank and ask for a loan and pay the credit cards off, it will depend on your credit score whether you'll get a good interest rate or a line of credit that is large enough. I personally suggest paying off the credit card with the highest interest rate first. Don't combine the cards, just take care of them one at a time. Pay the minimum on one card and the higher interest rate card send every xtra penny you can to them. Once that is paid off, take what you were paying on them and add it to the minimum payment on your last card. It's called snowballing and will help you get your debt paid off quick if you stick to it. I used this method to pay off 10 thousand dollars in credit card debt in two years. Good luck. There are a couple of different ways you can combine debt. First you could do the balance transfer if you have a big enough line of credit on one card, but be warned, there is usually a fee for transferring balances so you could end up just adding more to your debt. Also those 0% interest offers look good, but if they are introductory offers, let’s say for 6 months, if you don’t get the entire loan paid off in 6 months you could be charged that 6 months worth of interest anyway. They’ll just tack it right on to your balance.
You could go to a bank and ask for a loan and pay the credit cards off, it will depend on your credit score whether you’ll get a good interest rate or a line of credit that is large enough.
I personally suggest paying off the credit card with the highest interest rate first. Don’t combine the cards, just take care of them one at a time. Pay the minimum on one card and the higher interest rate card send every xtra penny you can to them. Once that is paid off, take what you were paying on them and add it to the minimum payment on your last card. It’s called snowballing and will help you get your debt paid off quick if you stick to it. I used this method to pay off 10 thousand dollars in credit card debt in two years. Good luck.

]]> By: just me http://creditcardsandchecks.com/how-to-combine-credit-cards-to-pay-them-off-in-one-lump-sum/comment-page-1/#comment-127 just me Mon, 05 Jan 2009 17:45:25 +0000 http://creditcardsandchecks.com/how-to-combine-credit-cards-to-pay-them-off-in-one-lump-sum/#comment-127 Yes, you can take your balance from one card and put in on the other. A lot of times they'll have promotions such as 0% interest for a year on any balance transfers you make. Just call the card with the lower interest and they'll do a balance transfer right over the phone. You just give them the info on the other card. Yes, you can take your balance from one card and put in on the other. A lot of times they’ll have promotions such as 0% interest for a year on any balance transfers you make. Just call the card with the lower interest and they’ll do a balance transfer right over the phone. You just give them the info on the other card.

]]>