Credit card for consolidating
With so many websites offering free financial tools, it can be hard to know whom to trust.0% Introductory APR for the first 15 months on purchases.
Whether you're consolidating several credit card balances or simply moving an existing balance to a new card, the Savings Estimator can help you estimate annual savings by factoring in introductory rate, balance transfer fee, and how long you'll keep the balance.The Barclaycard Ring™ Mastercard® comes with an introductory 0% APR period and never charges balance transfer fees — ever.As a cardholder, you can make suggestions and vote on new product features through the card’s online community. Among balance transfer cards, the Barclaycard Ring™ Mastercard® is a class act.Plus, you'll get a 0% introductory APR for 15 months on Balance Transfers made within 45 days of account opening.After that, a variable APR will apply, 13.99% Someone with excellent credit trying to pay down debt interest- and fee-free.This is the number one mistake people make when they consolidate.
Instead of balancing their budget so they can live without any reliance on credit, debtors who don’t use consolidation correctly continue to use their credit cards in order to get by every month.
You can lower your interest rates and your monthly payments, meaning you can get out of debt faster even though you pay less each month because you’re managing and eliminating the debt more efficiently.
However, consolidation is not a foolproof solution.
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When it’s not done correctly, it can actually lead to more financial trouble than what you had when you started.