Credit Card Refinancing

What is Credit Card Refinancing?

Credit card refinancing is a type of debt consolidation that could simplify your life by allowing you to combine multiple credit card balances into one easy payment. A credit card refinancing loan may come with low, fixed interest rates that don’t change during the life of the loan. If you’re one of the many people who can’t pay more than the minimum monthly payment on high-interest rate credit cards, you could save thousands of dollars in interest. At Best Egg, we believe there’s a smarter way to manage credit card debt and get on the path to financial freedom with a credit card refinancing loan.

 

Credit Card Refinancing vs. Debt Consolidation

What’s the difference between debt consolidation and credit card refinancing? Credit card refinancing and debt consolidation are very similar in the sense that they both help you pay off multiple debts with a personal loan. Credit card refinancing is about lowering your interest rate so you can be free of credit card debt. If you’re thinking about refinancing with a balance transfer offer from another credit card, you might want to think it through some more. While balance transfers can come with low introductory interest rates, those rates expire at some point and could leave you with a higher interest rate to pay on the remaining balance. Let’s not forget that you could be charged a balance transfer fee and be tempted to run up more debt by using the card for unnecessary purchases.

 

Is Refinancing Credit Card Debt a Good Idea?

Scrambling — while it’s great for eggs — isn’t all that great when it comes to trying to make your monthly payments on credit cards. If this sounds like you, you might want to consider refinancing your credit cards with a Best Egg Credit Card Refinancing Loan. If you have a good credit history and high-interest credit card debt, a credit card refinancing loan could help you save money on interest and say goodbye to credit card debt — once and for all.  

How Do I Find the Best Credit Card Refinancing Loan?

When it comes to credit card refinancing, there’s no one-size-fits-all loan. It’s easy to get overwhelmed by all the offers that are out there, but with careful research you can choose the best credit card refinancing loan for you and your wallet. Look for things like low interest rates, easy application processes, fast access to funding and friendly customer service. Knowledge is power and the more information you have on potential lenders, the easier it will be to find the best credit card refinancing loans.