First time poster, so I apologize if this is redundant or the format is off, etc.
I have pretty shitty credit (score around 600). I have three credit cards and was handling them responsibly until I got in dire straits and had to put some expenses on them. While I’m never late or miss a payment, they are all hovering at their limits and I’m usually only able to pay a little over the minimum payment. The interest rate varies from 22-26% on my cards. I have been approved for a personal loan to pay off my credit card debt, but the loan interest rate is 25%. The loan payment would be less than my minimum credit card payments, but I’d also end up paying nearly double what I borrowed over the term of the loan if I’m understanding it correctly. Just wondering if anyone has any advice on which is my better option?
Submitted April 25, 2019 at 09:05AM by Competitive_Cucumber http://bit.ly/2UWHJcm
