How you can ditch your credit card debt and rebuild your credit score, too
Trading out high-interest debt can be an absolute game-changer
This article was created by MoneyWise. Postmedia and MoneyWise may earn an affiliate commission through links on this page.
Clawing your way out of credit card debt is no easy feat when money’s tight.
Not only is credit card interest ridiculously high, but it also compounds. Once you let your debt linger, you’ll start owing interest on your interest .
So if you’re scraping by on minimum payments each month, you’ll make almost zero progress while your credit score takes a nosedive.
Here’s a simple way to clear out your debt fast and improve your credit score: with a personal debt consolidation loan from SmarterLoans .
SmarterLoans can help get you preapproved for a personal debt consolidation loan of up to $50,000 in minutes.
That money can allow you to pay off all your credit cards right away. Moving forward, you’ll only have to make a single monthly payment at a much lower interest rate.