Re: thinking about getting a personal loan to pay off high interest rate CC
07-20-2007 07:50 AM
I would say so, you probably wont be able to match your credit card rate with the rate of a loan. Also consider a line of credit, it MIGHT have a lower interest rate than a personal loan and you can use it to pay off credit cards w/o fees. PS: At my credit union a 720+ score will get you the lowest interest rate for a line of credit (10.90%) and the lowest for a personal loan is 11.5. Check with your bank because it will vary by institution.
For age and want, save while you may; no morning sun lasts a whole day.