facebookIs it better to get a loan from the bank to pay off the credit card debt knowing loan interest rate is lower than credit card interest rate? - Seedly

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Anonymous

10 Jun 2021

Credit Cards

Is it better to get a loan from the bank to pay off the credit card debt knowing loan interest rate is lower than credit card interest rate?

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Adding on to what Kenneth said about DCP. There are another type of DCP you can go for https://findtheloan.com/glossary

Victor

10 Jun 2021

Financial Service Consultant at AIA

It will be the lesser of the 2 evils

佩珊

07 Jun 2019

Sport N Social at Seletar Country Club

If Foreigner get any easy loan at Singapore

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Brandan Chen

07 Jun 2019

Financial Planner at Manulife Singapore

You may consider balance transfer. It's a scheme whereby they charge 0% interest for up to 6 months. This may give you some leeway if you are able to pay off the debt in about 6 months

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On theory, it sounds like a sound plan. Clear the higher interest loan then clear the lower interest...

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