You will need to be at least 18 years of age, have an active checking or savings account, have a reliable source of income, and have a working phone number.
Top Providers | How to Consolidate The goal of credit card consolidation is twofold: first, to simplify your debts by lumping them all into one loan, and second, to obtain a lower interest rate than you’re currently paying.
So, for debt consolidation to be effective, you not only need a loan large enough to cover the debts you wish to consolidate, but you need to obtain one with a lower interest rate than is charged by any of the credit cards you’re going to consolidate.
While consolidating credit can also simplify your debts, the primary goal is usually to obtain a lower interest rate, thus reducing the size of your monthly payments and/or the amount of time it takes to pay off your debt.
Therefore, the very first step you need to complete is to lay all of your proverbial cards on the table by listing out your credit card debts, including the total balance and APR for each card.
Indeed, one place you should always practice moderation is your personal finances, particularly when it comes to taking on debt.
In our “swipe now, budget later” consumer world, however, credit card debt can be one of the hardest types of debts to maintain in moderation.While Personal has no minimum credit score requirements for applicants, its individual lending partners may have their own qualifications.Additionally, most personal loan lenders will have specific monthly income requirements, which may vary based on the size of the loan you wish to obtain and your individual credit risk.If you’re not diligent, you may have an excess of credit card debt with high interest fees you can’t afford — which will only exacerbate bad credit.If you find yourself in over your head in credit card debt, you may need to consolidate with a personal loan to get yourself back on track.This is typically a quick form that takes just minutes to complete.