Consolidate Debt with a Personal Loan

The Problem

You have multiple credit card balances at high rates. It feels chaotic and expensive.

The Hack

Apply for a debt consolidation loan through your bank, credit union, or SoFi/Marcus. Use it to pay off all credit cards. Make one fixed monthly payment at a lower rate.

Why It Works

Credit card rates: 18-25%. Personal loan rates: 7-15%. Consolidating saves thousands in interest and simplifies from 5 payments to 1 with a fixed end date.

Pro Tips

• Credit unions often have the best rates
• DO NOT charge up the cards again after paying them off
• Fixed payments mean a guaranteed payoff date — cards don't have that
• Compare rates from 3+ lenders before committing