One solution could be using a debt consolidation loan to lower your interest rate.
Essentially, you use a new personal loan to pay off existing debt.
Marcus by Goldman Sachs offers a fixed-rate, no fee personal loan.
At the moment and our products are only available in the US. Marcus offers unsecured personal loans from ,500 to ,000.
Most lenders also provide general guidelines about what kinds of applicants they accept.
Pay attention to any credit score or income requirements.
A shorter loan term will help you get out of debt faster and could save you interest.
A longer term will stretch out repayment over a longer period, resulting in lower monthly payments.Many debt consolidation lenders allow you to request a rate quote.You submit an initial request, and the lender uses it to perform a soft credit check that doesn’t affect your credit but allows the lender to generate a rate quote specific to you.Debt consolidation loan terms can range from one year up to seven years, and most lenders will state the loan lengths they offer.Use our personal loan calculator to see how different loan terms could affect your total costs and monthly payments.That way, you’ll avoid any surprising or unexpected fees.