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I have $20K in credit card debt that costs me $400 a month just in interest. Should I use a personal loan to refinance it?

21
Alisa Wolfson
·5 min read
I have $20K in credit card debt that costs me $400 a month just in interest. Should I use a personal loan to refinance it?

Question: I have two credit cards and a total debt of $20,000. Is it advisable to refinance my credit cards with a personal loan? You’re right to consider refinancing this debt to a lower rate as you’re paying a lot in interest — a personal loan (see the lowest personal loan rates you may get now here) is one way to do that, a 0% interest balance transfer credit card is another, and you might also consider calling a nonprofit credit counseling firm.

Continue reading

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