Just need some quick advice. I just got an offer in the mail for a CC debt consolidation loan - I usually toss them, but this one looks promising. I have about $12K in CC debt across 3 cards due to a lapse in employment and some ill-timed family emergencies. I have a new job and I'm paying the debt down as fast as I can, but these are all high interest cards from when I first started getting card offers in college. The debt isn't shrinking as fast as I'd like, and it makes me uneasy having high balances on these cards.
The loan offer is from Best Egg, and it's nearly half the interest rate of my lowest interest card. The minimum payment is about 1/4 of total minimums across these 3 cards, so I could triple the minimum payment on this loan with ease.
My only real concern is a potential hit to my credit score. Will I get flagged or docked for taking a consolidation loan? Or will it not matter because I'm just offloading the debt and clearing my cards? Is Best Egg legit?
Submitted May 13, 2018 at 07:21PM by Josh-DO-IT https://ift.tt/2wMxs71
