Consolidate Your Credit Cards and Save with ACU

Credit cards can be convenient for making purchases, but if we’re not careful, it’s easy to rack up high-interest debt. If you have multiple credit cards with high balances, it can be challenging to keep track of what you owe and when payments are due. That’s where debt consolidation comes in. Consolidating your credit cards at a cheaper rate can help you save money and simplify your finances. Let’s discuss how debt consolidation works, why it can be beneficial, and how much money it can save you by using a credit card from America’s Credit Union.

Debt Consolidation – What is it?

Debt Consolidation is the process of combining multiple debts into one loan or credit card with a lower interest rate or better terms. By consolidating your debt, you can simplify your finances and potentially reduce your monthly payments. Instead of making multiple payments each month to different creditors, you make one payment to the new loan or credit card issuer. Consolidating your credit cards can help you simplify your finances, reduce your interest rates, and save money. With lower interest rates, more of your payment will go towards paying off the principal balance, so you can get out of debt faster.

Benefits of Consolidating Your Credit Cards

One of the most significant advantages of consolidating your credit cards at a cheaper rate is that you can save money on interest. Let’s look at an example of how much you can save by consolidating high-interest credit cards with a credit card from ACU. Say you have three credit cards with balances of $5,000, $7,000, and $10,000, at interest rates of 22%, 24%, and 20%, respectively, your minimum monthly payments would be around $774, and you’d pay over $16,000 in interest over five years. However, if you consolidated those balances into a credit card with an 11% APR through America’s Credit Union, your monthly payment would be around $530, and you’d pay around $4,500 in interest over five years – a savings of over $11,000!

Another benefit of consolidating your credit cards is that it can simplify your finances. You’ll have one payment to make each month instead of multiple payments with varying due dates and interest rates. You’ll also have a clearer picture of how much you owe and when the debt will be paid off, making it easier to manage your budget and plan for the future.

Military service members and credit union members are particularly well-suited for debt consolidation with a credit card from ACU. America’s Credit Union is a not-for-profit financial cooperative that exists to serve its members, offering lower rates, fewer fees, and personalized service compared to traditional banks. Additionally, debt consolidation can be especially useful for members of the military, who may face frequent moves, deployments, and other financial challenges that make it difficult to keep track of multiple debts.

What Are You Waiting For?

If you’re struggling to pay off high-interest credit card debt, consolidating your balances with a credit card from America’s Credit Union can help you save money and get out of debt faster. With lower interest rates and fees, you can simplify your finances and improve your credit score. By taking control of your finances and making a plan to pay off your debt, you can achieve your financial goals and build a brighter future.

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*APR=Annual Percentage Rate. Your APR for purchases is 10.54% – 18.00% based on your credit worthiness and will vary with the market based on the Prime Rate. This transaction is subject to credit approval. See full Visa disclosure or Business Visa disclosure for more information. 

Balance Transfer Disclosure: Offer applies only to balances transferred with cash advances done by America’s Credit Union (ACU) to pay off existing balances with other creditors. There is no grace period for balance transfer transactions; interest is charged from the date of posting. Business Visa is excluded from this promotion. We apply your minimum payment to balances with the lowest APRs first. Amounts paid over the minimum payment will be applied in the order of highest to lowest APR balances. Your other debt account(s) will not be closed by ACU (even if you transfer your entire balance). If you wish to close other accounts, please contact the creditor. You should make at least your minimum payment on any card on which you are transferring a balance until you receive confirmation from the creditor that your balance transfer payment has been received, ACU is not responsible for late payments on other debt account(s). In the event that your request(s) exceed the amount of your credit line, then ACU will fulfill your requests in numeric order as listed on your request. ACU may decline to process one or more requests and/or may complete one request in a partial amount. Your APR for new purchases is 10.54%- 18.00% based on your credit worthiness and will vary with the market based on Prime Rate.