Key takeaways
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Using a personal loan to pay your holiday credit cards off will give you one fixed-rate payment that’s easy to track.
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Replacing credit card debt with a personal loan may improve your credit score if you don’t open any new cards and dont continue using the open ones.
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You can potentially pay a much lower interest rate for a personal loan compared to credit cards.
If you got a little carried away with your holiday credit card spending, a personal loan might help you refind your financial footing in the new year. Youll receive all your funds in one lump sum and can use them to combine multiple debts into one personal loan at a fixed interest rate and payment and a definite payoff date.
When to use a personal loan t…
Read the full article at: https://finance.yahoo.com/news/personal-loan-help-recover-holiday-224947990.html