Definition of consolidating credit card debt speed dating questions for business
" It's one of the most popular personal finance questions on Google.Here's what you need to know to pay off your credit card debt faster.Here are the top things you need to know before you consolidate your debt: But here’s the deal: Debt consolidation promises one thing but delivers another.That’s why dishonest companies that promote too-good-to-be-true debt-relief programs continue to rank as the top consumer complaint received by the Federal Trade Commission.
How much money can I save with credit card consolidation?But let’s be honest: Your interest rate isn’t the main problem. This specifically applies to consolidating debt through credit card balance transfers.The enticingly low interest rate is usually an introductory promotion and applies for a certain period of time only. Be on guard for “special” low-interest deals before or after the holidays.Think about that for a second: if you are carrying credit card debt, the interest rate on your credit card can be more expensive than all your other types of consumer debt.
Second, credit card debt is considered variable interest debt, which means the interest rate can change.
Here's how to think about how much you can save consolidating your credit card debt.