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You’ll typically need a credit score of at least 700 to qualify for a debt consolidation loan with a competitive interest rate. Although a lower credit score doesn’t automatically equal a ...
“Choose a consolidated loan if you have a good credit score (750+), want to simplify payments, and can qualify for a lower interest rate than your current debts. It’s best for disciplined ...
Debt consolidation loans are generally a good option for those with good to excellent credit. This is generally considered a credit score in at least the mid-600s and a history of making on-time ...
A debt consolidation loan can provide a lower interest rate than most credit cards. According to Bankrate data , the average personal loan currently has an interest rate of around 12 percent.
With a consolidation loan the amount of debt owed would still be on your credit report, but because personal loans are installment loans, they don’t impact your score as severely as credit cards ...
Debt consolidation loans can help you manage your debt, but only if you can afford to make the monthly payments now and in the future. ... use a credit card payoff calculator and a personal loan ...
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