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So-Fi or other companies for personal loans
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rkoenke
my little piggys
Member since 3/08 4315 total posts
Name:
rachel
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So-Fi or other companies for personal loans
Hi!
Looking to take out a personal loan or some other rec to pay off credit cards. It's not a huge amount, but don't want to pay this interest, nor do I want to play around with opening zero interest cards to transfer funds, etc...
Any guidance??
Many thanks!
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Posted 3/1/17 7:09 PM  |
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olive98
LIF Adolescent
Member since 11/12 791 total posts
Name:
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So-Fi or other companies for personal loans
Why not do a balance transfer? You will pay intrest on any loan you get
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| Posted 3/1/17 8:34 PM |
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rkoenke
my little piggys
Member since 3/08 4315 total posts
Name:
rachel
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Re: So-Fi or other companies for personal loans
Because it's a major pain in the heiny to transfer to new cards and remember the date that the zero percent or low percent expires, God forbid you don't plan right then they charge you all the interest if the balance is left over... Too much management.
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| Posted 3/1/17 8:49 PM |
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olive98
LIF Adolescent
Member since 11/12 791 total posts
Name:
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So-Fi or other companies for personal loans
They actually don't do that. They only start charging intrest on what left on the card. I have done this many times for big purchases I charge on my points card and transfer the balance to pay off intrest free.
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| Posted 3/1/17 9:33 PM |
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Pumpkin1
LIF Adult
Member since 12/05 3715 total posts
Name:
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Re: So-Fi or other companies for personal loans
Posted by rkoenke
Because it's a major pain in the heiny to transfer to new cards and remember the date that the zero percent or low percent expires, God forbid you don't plan right then they charge you all the interest if the balance is left over... Too much management.
There are many cards that have 18 month interest free introductory rates. That way, only do this balance transfer, put nothing else on the card and calendar 18 months to pay it off. Honestly, your credit will be hit for either a new CC or a private loan. Also, with the 0% rate, you will save a lot of interest since most private loans have interests rates above 10%.
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| Posted 3/1/17 9:36 PM |
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