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These loans often have low interest rates and are accessible to those with poor or nonexistent credit. That’s because you provide all of the collateral for the loan in cash, so it’s not a risk for the lender. You build credit as you pay down the loan, and you can access your balance once the loan is paid off.
Credit Card Consolidation Loans A credit consolidation loan is a type of unsecured personalloan that comes with a set repayment period and fixed monthly payments. For a credit card consolidation loan to make sense, the interest rate needs to be lower than the interest rate for your credit cards.
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