Credit cards can seem like an easy way to get the money you need, but as many borrowers find out the hard way, it doesn’t take long racking up credit card debt to prove the phrase, “You’ll pay for that later.” In fact, if you’re only making minimum payments, it can take over a decade to pay off high-interest credit cards.
To put it in more tangible terms, if you’re only making minimum payments over 10 years or more, that $5 coffee you bought today could easily become a hundred-dollar coffee down the road.
There are many benefits to World personal loans, but one of the best (and most popular) reasons for taking out a personal loan is consolidating and paying off high-interest debt. Instead of paying minimums across one of more credit cards, we help you roll your debt into one set monthly payment.
By doing this, you may be able to save on interest and fees and significantly speed up how soon you can become debt free.