Does consolidating credit card debt hurt credit score replying to online dating

Let’s say you have a ,000 balance on a fixed-rate credit card with a 16% APR, and your goal is to pay it off within three years.Your monthly payment would be about 7, while your total interest cost would be about ,972—and that’s if you don’t continue to charge new credit card debt.Some plans require you to become delinquent on your accounts in order to enter into the program.

People talk all day long about their workouts, favorite apps, and their love lives, but bring up the subject of money, especially credit card debt, and suddenly everyone clams up.“Money is the last taboo subject,” said So Fi Chief Operating Officer Joanne Bradford in a May episode of the Digiday podcast. They’re uncomfortable with talking about how much they make, how much they save, what they can do with it.”According to the American Psychological Association’s latest “Stress In America” report, money is the number one cause of stress—ahead of work, family, and health concerns.

In doing this they effectively bring all these debts together into one combined loan with one monthly payment.

Since this is bringing multiple debts together and combining them into one loan, this is referred to as “consolidating” them. In reality, it’s actually technically impossible to combine loans and merge them together.

Refinancing debt is also a smart strategy, especially for those in the post-grad plateau— the early stages of a promising career—with plenty of raises just around the corner.

With fixed-rate credit cards becoming more difficult to find, and the average annual percentage rate (APR) for variable-rate credit cards just over 16% as of this writing, you could save thousands of dollars by refinancing credit card debt with a low-interest personal loan.

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