340: Should I Use a Personal Loan to Pay Off My Credit Cards?

With interest rates rising paying down credit card debt is a great idea. But is using a personal loan a smart way of eliminating credit card debt. This week a listener wrote in with this exact question so I will help walk them through what they should know before paying off their credit cards with a personal loan. Sources Average credit card APR - https://www.bankrate.com/finance/credit-cards/average-credit-card-apr/ Federal Reserve Consumer Credit Data - https://www.federalreserve.gov/releases/g19/current/ The Personal Finance Podcast - https://www.thepersonalfinancepodcast.com/get-rid-of-your-debt-once-and-for-all-with-chris-browning/   Join Me on YouTube! https://www.youtube.com/c/PopcornFinance Want to submit a question to the show? Send an email to [email protected] Send me a message at PopcornFinance.com/Voicemail or Call 707-200-8259 Connect with me Instagram | Twitter | Facebook | YouTube | TikTok Thank you for listening to today’s episode. If you enjoyed it, I’d be grateful for your rating and review! Music from Uppbeat (free for Creators!) Learn more about your ad choices. Visit megaphone.fm/adchoices