• Busting Uber myths

    The ehailing firm is constantly trying, succeeding - and sometimes failing, says Ian Mann.

  • Trapped in a democracy

    The very people elected to bring benefits to all are undermining SA, says Solly Moeng.

  • Marikana spectre

    Five years after the bloody massacre calls for justice are growing louder, says Terry Bell.

Loading...

Paying off two credit cards

Feb 02 2017 21:07
Carin Smith

A Fin24 user wants with two credit cards wants to know if he should get a consolidated loan to pay it off. He writes:

I have two credits cards, but I want to get them paid up as soon as possible.

Is it advisable to take out a consolidated loan to get it paid up?

The interest is high and what if I take out one loan amount with less interest to pay it off? Please advise.

Simon Brown of Just One Lap responds:

Absolutely. If you have high interest debt and you can consolidate into a cheaper interest rate you'll definitely be better off.

Disclaimer: Fin24 cannot be held liable for any investment decisions made based on the advice given by independent financial service providers. Under the ECT Act and to the fullest extent possible under the applicable law, Fin24 disclaims all responsibility or liability for any damages whatsoever resulting from the use of this site in any manner.

Read Fin24's top stories trending on Twitter:

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest. 24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

simon brown  |  money  |  money clinic  |  debt

NEXT ON FIN24X

 
 
 
 

Company Snapshot

We're Talking About...

Savings Month

It's never too late to start saving. Visit our special issue and add your voice.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

The proposal to nationalise SARB will

Previous results · Suggest a vote

Loading...