When you’re financially pushed against the wall and you’ve fallen behind your credit card payments, it seems to be the end of the world. However, you can start fixing things with credit card debt consolidation so you can better manage your debts. This move will turn multiple debts to a single debt that you have to worry about.
which banks have the best credit card debt consolidation programs?
Chase is one of the biggest banks in the United States and offers a complete range of products to help consumers in every possible way.
Chase has a debt management plan in place. This assistance program is being offered to its card holders. The help may come in the form of lower settlement amount for unpaid bills, easy payment plans, fees waived, among others.
The bank also allows homeowners to tap into the value of their home and use that to consolidate their debts.
Bank of America
Bank of America also extends a helping hand to customers who are having a hard time keeping up with their payments.
The bank offers credit counseling where an expert will discuss options to avoid bankruptcy. The one-on-one consult includes financial education, working budget, and credit analysis.
The bank also assists clients with their other financial obligations. They offer a debt management plan that involves reaching out to your creditors in order to reduce interest rates and payments. In turn, you will just make one payment to a counselor who will manage the disbursement of fees to creditors.
Citibank offers debt consolidation loans with reasonable interest rates. This comes in the form of an unsecured personal loan that can be used to consolidate bills including credit card debt and other older bills.
The bank has set income standards to screen who will qualify for this credit card debt consolidation loan. The application can be coursed through Citibank Financial or through any third party credit or debt counseling company.
Another big bank in the United States, Wells Fargo, offers several options to help you consolidate your credit card debts. It offers unsecured loans so you can consolidate multiple debts and only manage one monthly payment. Those who are interested might enjoy the benefit of lower interest rate compared to their existing interest rates.
U.S. Bank also offers personal loans that you can use to consolidate your credit card debts and other debts. There are loans accessible for individuals with relationship to the bank and non-customers. The bank’s premier loans come with fixed rates and does not require home appraisals or property inspections. The online application process is also pretty straightforward.
Capital One offers debt consolidation so you can combine your debts into one loan. You can apply for the bank’s personal loan which you can use to pay off your credit cards. Remember that you have to shop patiently in order to find a lower interest rate. With Capital One, the interest rate varies but mainly depends on the borrower’s credit history.
Credit card debt consolidation programs are not created equal. Let us tell you which banks have the best credit card debt consolidation programs so you can make an informed decision.