Money picks for Paying off debt
Getting out from under high-interest debt with the right tool, whether a 0% balance transfer or a fixed-rate consolidation loan, and a payoff plan you can actually stick to.
What you're really asking: What's the cheapest, most realistic way to pay off my high-interest debt?
Our picks (10)
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Frequently asked questions
Balance transfer or personal loan, which is better?
A 0% balance-transfer card is usually cheapest if you can pay off the balance within the intro window. A fixed-rate personal loan is better for larger debts or when you need a longer, predictable payoff schedule that a promo period can't cover.
Does a balance transfer hurt my credit?
There may be a small, temporary dip from the new account and inquiry, but paying down debt lowers your utilization, which usually helps your score over time. The bigger risk is running the balance back up on the old card.
Should I keep using my cards while paying off debt?
Keep new spending to a minimum and ideally on a separate card you pay in full. The whole point is to shrink the balance, and new charges on the debt you're trying to clear work against you.