Consolidating debt car loans

Most will give you an estimated rate without a “hard inquiry” on your credit, unlike many banks and credit unions.

For online lenders, the lowest rates go to those with the best credit; rates top out at 36%.

Nerd Wallet recommends visiting your local credit union first.

Most credit unions offer their members flexible loan terms and lower interest rates than online lenders, especially if you have a low credit score.

To do this, many or all of the products featured here are from our partners. You can also compare loan options based on your credit score.

The scoring formula takes into account factors we consider to be consumer-friendly, including impact to credit score, rates and fees, customer experience and responsible lending practices.

Most issuers charge a balance transfer fee of around 3%, and some also charge an annual fee.

Before you choose a card, calculate whether the interest you save over time will wipe out the cost of the fee.

You’ll need a good to excellent credit score — above 690 — to qualify for most cards.

Make a budget to pay off your debt by the end of the introductory period, because any remaining balance after that time will be subject to a regular credit card interest rate.

Leave a Reply