HODL & Earn Crypto with Miny! - Earn passive income by holding Bitcoin, Litecoin and Ethereum in a smart wallet that leverages funds to secure AI powered mining hardware! The easiest way to make money in crypto, period.

Why not replace Credit card with Personal loan?

Posted by trishyasharma on November 5th, 2019

With credit cards one can become too comfortable making minimum payments on their credit card bills. This is largely due to the thought process minimum payments is enough to prevent late fees and interest charges. However, one ends up paying hefty fees for the outstanding not paid and overall one ends paying higher interest rate as compared to other source of credit.

So what is bets one can do? Swap the credit card debt with personal loan debt. So, one can consider a debt consolidation loan or  credit card takeover loan to make these changes.

 

How Does Credit Card Takeover Help?

Lower Interest Rates

Debt consolidation loan is a personal loan (1.5-3% per month) and has lower interest rate in comparison to the interest rates on credit cards (3-5% per month). Hence, there’s indirect saving that one would otherwise pay in the form of higher interest. 

Convenience:

Credit card takeover loan is usually interest only payment and hence helps one lower monthly outflow up to 40%. With it, you don’t have to worry about paying the principal amount as you are free to wait until you are ready. When you are in a better financial position, you can finally pay off the principal amount.

CIBIL Score Protection:

One of the most important advantages of using debt consolidation loan is that u=it saves your Credit bureau score, CIBIL or Crif. Delayed credit card payments can often have a negative impact on your CIBIL score, which you simply can’t afford. With a poor CIBIL score your chances of loan approvals become low and making the necessary repairs could take a lot of time and energy.

No Late Fees and Penalties:

With a credit card takeover loan,  you can also avoid late fees and penalties. Since the loan can be obtained within a matter of days, you can save a lot of money on late fines and penalties, which are generally quite high.

Also See: Credit Card, Personal Loan, Card Takeover, Takeover Loan, Loan, Credit, Card

A Book of Al Thatcher Card Magic by Gordon Boyd
After Hours Magic: A Book of Al Thatcher Card Magic by Gordon Boyd with contributions by Tom Craven, Stephen Bargatze, Gary Plants, Mike Powers, Dan Block, Steve Beam, Del Copley, Wynn Mertz, Nick Trost (Courtesy of H & R Publishing), Robert Bengel, Evert
CryptoTab Browser - Easy way for Bitcoin Mining | CryptoTab Browser
CryptoTab Browser is the world's first web browser with built-in mining features. Familiar Chrome user interface is perfectly combined with extremely fast mining speed. Mine and browse at the same time!

Quality Office Furniture USA Shipped Direct - Madison Liquidators
Nationwide vendor of quality office furnishings including Desks, Office Chairs, Conference Tables, Cubicles and more!

Claim 1 FREE Stock! No Purchase Necessary!
You have a 100% chance of receiving one free stock! Click to claim and have a chance to get one share of Facebook, Visa, Microsoft and others for free!

Advertise Here