Americans are drowning in credit card debt. The average U.S. household owes more than $15,000 on their cards, according to Debt.org. Because of this large amount of debt, millions of credit card borrowers barely scrape up enough cash each month to make the monthly minimum payment.
If you’re looking for extra cash, applying for a personal loan can be one of the best, but often overlooked, ways to fund any goal or future expense. Unlike other types of loans, such as home mortgages or car loans, personal loans can be used for any purpose you want.
If you’re having trouble juggling payments on a few credit cards and the interest rates on those debts are sky-high, it might be time to look into a debt consolidation loan.