An American Express Personal Loan could help you consolidate your higher-interest credit card debt at a lower fixed interest rate with no origination fees or pre-payment penalties — so you can save.If approved, you can lock in a competitive interest rate and consolidate up to four credit cards into one fixed monthly payment.This type of loan involves transferring your existing debt, but with the benefits of a single payment and the gradual improvement of your credit over time. But the countertop of your dreams is just out of reach with your original budget. From save-the-dates to booking the venue, you can get the money you need with an American Express Personal Loan to make your perfect wedding come to life.It helps you pay off your debts within a certain period.This is where you take out a personal loan from a financial institution, such as a bank, to pay off your multiple creditors immediately.This debt relief option is good for those who want to pay off unpaid debts, manage multiple bills efficiently, pay less on interest rates and save money. This is where the experienced counselors of a debt relief company help you organize an easy and budget-friendly single monthly payment plan.
If the monthly payment on your American Express Personal Loan is lower than the combined minimum due on the cards you are consolidating, it may be due to a lower interest rate on your loan, a longer loan period, or a combination of both. The credit card debt example assumes monthly payments of 7.90 on an existing credit card balance of ,000 at a 15.15% APR, not including additional purchases, payments, or credits.Freedom Debt Relief is a credit advocacy company founded in 2002 by Stanford Business School graduates.Freedom Debt Relief employs over 1,300 people who work with over 300,000 clients to help them reduce debt.After you pre-qualify, we'll run a credit report to help us better understand your financial needs, contact you to request any additional information, approve your loan, and walk you through the payment process.Consolidating your debt does not automatically transfer to an improved credit score.