[…]one loan You only have to make one monthly payment going forward These last two advantages only apply if you use your personal loan to pay off all your credit cards. We don’t recommend taking out a loan to pay off one credit card if you carry debt on multiple lines of credit. The Disadvantages of Using Loans for Debt from Credit Cards Of course, all these benefits can not come without some drawbacks. The following disadvantages of personal loans could make this option less attractive for certain borrowers: You may pay higher fees on personal loans You may not […]
[…]to pay interest on the purchase until the promotional period expires. Penalty APR Penalty APRs can apply to both loans and credit cards. This APR is typically higher than your regular interest rate and fees. You may have to pay this higher rate if you are delinquent for more than 60 days. Variable and Fixed APR Variable and fixed APR typically applies to loan rates. A fixed APR loan has an interest rate that does not change over time. Variable APR loans have interest rates that do change throughout your loan term. The APR on a variable-rate loan depends on […]
[…]if your capital gains exceed your capital losses, this might be the perfect opportunity for you to apply this strategy. However, many people who use strategies like this use them at the end of the tax year. After all, if you wait until the tax year has ended to sell some of your investments at a loss, then you cannot use those capital losses to offset your capital gains from the previous tax year. There is another situation in which it may make sense to employ this strategy. If there is a large dip in the value of cryptocurrency, then […]
