(Spin Digit Editorial):- Albuquerque, New Mexico Jul 29, 2021 (Issuewire.com) – Debt is a $1 TRILLION dollar problem. But this is far from good news for the U.S. Consumers who want to be more than just a number and come out stronger on the other side of debt. To achieve this, consumers must learn the most powerful financial strategies that are helping thousands of people manage their debt and save money.
Credit card consolidation is hailed as one of the smartest debt-crushing strategies in the USA. According to Debt Rewards, it’s about compounding the debt from all of your credit cards into one single loan with a fixed interest rate that could be lower than what you might paying now. Debt Rewards strives to empower its clients to enjoy just one monthly payment instead of having to worry about multiple obligations, helping consumers refocus their energy on getting their debt paid off – faster – without unnecessarily overpaying in interest.
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According to Debt Rewards, “A good rule of thumb is that if the interest rate you are offered via credit card consolidation (or a personal loan) is lower than what you’re currently paying on your credit card, then consolidation would definitely work in your favor. However, if consolidation will raise your interest rate to an amount higher than what you’re currently paying for all of your credit card debt combined, you might want to explore other options before committing to consolidation.”
What to know what your new rate could be via consolidation?
The average credit card interest rate today is 15.5%, meaning you can expect to get a credit card loan at 5% interest if you have $10K credit card debt with 13% interest currently. This means you could slash your interest payments by over 50%.
About Debt Rewards
Debt Rewards is a Debt Consolidation Loan affiliate company that rewards its clients with gifts from the world’s leading brands while providing free financial education through online courses for clients. The company works to offer great terms to its customers by sourcing the best interest rates and conditions from their Debt Consolidation Loan partners. In the U.S, Debt Rewards has serviced more than 50,000 clients to date. For more information on Debt Rewards and what they can do for your credit card debt, make the first contact today.
320 Gold Ave SW #620 PMB 1344,
Albuquerque, NM 87102, USA
320 Gold Ave SW #620 PMB 1344, Albuquerque, NM 87102, USA
Source :Debt Rewards
This article was originally published by IssueWire. Read the original article here.