One of the advantages of this debt relief program is that you don’t need perfect credit.
In fact your credit score doesn’t matter at all, everyone is accepted.
You can transfer the balances of the high interest accounts to the no interest card.
This will help you pay off the debts much faster and save a lot of money in interest.
Many people choose to consolidate debt because of the high interest rates making it hard to pay down the principal balance.
Getting a consolidation loan with a high rate just doesn’t make much sense.
To qualify for the balance transfer cards you typically need to have at least an average credit rating.
If you have bad credit this may not be an option for you.
Rates can be as high as 30% in some cases defeating the purpose of a debt consolidation loan.
A debt consolidation loan may be a great option for you.
But how do you get a debt consolidation loan with bad credit?
However, these loans will require good credit history, usually at least a 660 FICO score or higher is required.
But this is one of the cheaper debt relief options because it’s a low-interest loan.
Debt consolidation loans for bad credit are either not possible, or come with high interest rates.