Balance transfer card vs personal loan (or neither)? - Reddit

I have about $10,000 balance total over 2 credit cards (one b of a and one Amex) and am considering doing a balance transfer card. I also see info about personal loans on credit …

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Balance Transfer Card Vs Personal Loan (or Neither)? - Reddit

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I have about $10,000 balance total over 2 credit cards (one b of a and one Amex) and am considering doing a balance transfer card. I also see info about personal loans on credit …

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Balance Transfer Vs. Personal Loan? : R/personalfinance - Reddit

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I was initially thinking of taking out a personal loan (36 mo $16,000 loan at 12.49% APR from Goldman Sachs, extra $2k would pay off another card I have). However, I was pre-approved …

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Personal Loan Or Balance Transfer? : R/debtfree - Reddit

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I also qualify for a balance transfer LOAN (I’m a bit confused on how this is different from a balance transfer to another card) for $16K, 8.5% APR, and paying $311 per month for 60 …

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Advice On Balance Transfer Or Personal Loan To Pay Credit Card

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The other thing is most balance transfer cards will charge you a fee of 3-5% for every balance you transfer over. Still better than paying double digit interest though. If it were me I would go with …

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Personal Loan Or Balance Transfer Card? : R/personalfinance - Reddit

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Should I go with a personal loan to pay off my cards and just make monthly payments towards that, or apply for a balance transfer card (which would have 0%APR for a year or so). If I do …

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Balance Transfer Vs. Personal Loan: Which Option Is Best For You?

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2 days ago · This means if you were to transfer a $4,000 debt to a balance transfer credit card with a 3% balance transfer fee, your first statement would show a charge of $120 — the cost …

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Balance Transfer Or Personal Loan? : R/personalfinance - Reddit

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The interest and minimum payment on a different loan or different card will be similar. The interest on your loan is $137 /mo. So even if you found a 0% loan with no fees, it would only save …

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FAQs about Balance transfer card vs personal loan (or neither)? - Reddit Coupon?

What is a balance transfer vs a personal loan?

Balance Transfer vs. Personal Loan: What’s the Difference? A balance transfer involves transferring the balance on one or more credit cards to a new credit card, typically one with a 0% APR promotional period that spans 12 to 21 months. ...

Is a balance transfer credit card better than a personal loan?

Both balance transfer credit cards and personal loans may help you simplify your finances and save money. But figuring out which one is best for your situation isn’t always straightforward. Balance transfer cards may be appealing because they often offer a low introductory balance transfer APR for a set period of time. ...

Are balance transfer credit cards interest-free?

Balance transfer credit cards offer an interest-free period upfront, but rates after the introductory period are generally higher than interest rates on personal loans. This is especially true if you have good credit, says credit expert John Ulzheimer. However, there’s virtually no such thing as an interest-free personal loan. ...

Is a balance transfer credit card right for You?

Balance transfer credit cards and personal loans are both popular methods to help pay down debt and save money along the way. If you’re looking to consolidate your existing debt onto one card and save money on interest, a balance transfer credit card may be the right funding option for you. ...

Can I include personal loan debt in a balance transfer?

You may be able to include personal loan debt in a balance transfer on certain cards, but not all issuers allow this. A debt consolidation loan, which is a type of personal loan, may give you more options. These loans often let you consolidate various forms of debt, such as credit cards, medical loans and other personal loans. ...

Will a balance transfer card or personal loan approve me?

There’s no guarantee that a balance transfer card or personal loan will approve you for a credit line or loan amount that will cover all your current debts. Generally, you won’t find out how much you’re approved for, if at all, until after you formally apply. ...