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Personal Loan to pay off Credit Cards?

Personal Loan to pay off Credit Cards?

Question: n some credit cards, there are deals (for limited periods) for balance :transfers and they give attractive APRs of 9.9 % and so. Now if one were :to go to a bank or a credit union and apply for a personal loan (or debt :consolidation loan) what is the interest they charge on such loans?? :

Answer: I went to the bank and asked. They gave me an interest rate of 11%, even with my car loan there at 8.5%. The bank also insisted I get the loan for a longer term than I wanted it for — they wanted me to sign up for (at least) a three year loan although I could pay as much as I wanted into it at any time.

Since my one card is at 9.75% (Scotiabank Value VISA), I declined their offer.

Interestingly, she asked if I had other cards which I was paying off by paying some amount off of the low card and moving some credit from the high card to the low card. I don’t, since I payed those higher cards off first. But I wonder if that [what I did] was the right thing to do? I do notice that now my low card comes with “charge cheques” for the explicit purpose of “transfering a balance”.

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