Consolidating and eliminating credit card debt

24-May-2015 02:13

Borrowers who used a personal loan via Lending Club to pay off high interest credit cards or consolidate debt report in a survey that the interest rate on their loan was an average of 33% lower than they were paying on their outstanding debt or credit cards.

75% of Lending Club customers experienced a FICO score increase three months after getting their personal loan; the average score increase was 20 points., 2016.Borrowers who received a loan to consolidate existing debt or pay off their credit card balance reported that the interest rate on outstanding debt or credit cards was 20.7% and average interest rate on loans via Lending Club is 13.8%.Digging yourself out of the hole is possible, though.Major credit card companies charge several percentage points annually on interest, it’s how they earn money.Estimate your monthly payment with our personal loan calculator.

75% of Lending Club customers experienced a FICO score increase three months after getting their personal loan; the average score increase was 20 points., 2016.Borrowers who received a loan to consolidate existing debt or pay off their credit card balance reported that the interest rate on outstanding debt or credit cards was 20.7% and average interest rate on loans via Lending Club is 13.8%.Digging yourself out of the hole is possible, though.Major credit card companies charge several percentage points annually on interest, it’s how they earn money.Estimate your monthly payment with our personal loan calculator.Get an instant rate quote and see the offers you qualify for, with no need to ever visit a branch.