answersLogoWhite

0


Best Answer

The answer to the question about the credit cards is that this information is obtained from the concerned department of the company. Moreover such information can be useful in day-to-day lives.

User Avatar

Wiki User

10y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What are the benefits of consolidation credit cards?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Continue Learning about Finance

Can you use other credit cards when are in a proccess of Debt Consolidation?

It is not recommended to apply for new credit cards or use the ones that you told the debt consolidation company that you can't afford the minimum payment. What is the point of using credit cards when you are trying to get out of debt? If you use any of the cards that are in the process of debt consolidation, the company can end your contract and what are you going to do to get rid of your debt?


What is the purpose behind consolidation for debt from credit cards?

The main purpose behind consolidation for debt from credit cards is to combine all the debts into one payment and sometimes to lower the interest rate.


Do you have to include all credit cards in a debt consolidation?

No matter what company that you decide to go into, they will put up your credit report to see if you are eligible for debt consolidation. However, not all of them approve debt consolidation plans from credit counseling especially bank credit cards. First it will be a 3 month wait to see if they actually approve the credit counseling plan. After that, you will see payments begin posting. I will not agree to anything about no debt consolidation unless it is in writing and I can fax over my credit statements.


What is a consolidation credit card?

A consolidation credit card is a credit card someone will pick to use as their sole credit card for everyday expenses which typically has the lowest interest rate or the best benefits such as cash back or miles rewards programs. Also, if someone has other credit cards with higher interest rates, they can often transfer balances and "consolidate" them onto a single credit card with a lower interest rate, therefore lowering their monthly payment, costs and in essence, making the card a "consolidation credit card".


What are some benefits of consumer credit debt consolidation?

Some of the benefits of consumer credit debt consolidation is that once you speak to another person about your situation, the weight can be lifted off your shoulders. Also a second opinion always helps you to understand your situation more.

Related questions

Can you use other credit cards when are in a proccess of Debt Consolidation?

It is not recommended to apply for new credit cards or use the ones that you told the debt consolidation company that you can't afford the minimum payment. What is the point of using credit cards when you are trying to get out of debt? If you use any of the cards that are in the process of debt consolidation, the company can end your contract and what are you going to do to get rid of your debt?


What is the purpose behind consolidation for debt from credit cards?

The main purpose behind consolidation for debt from credit cards is to combine all the debts into one payment and sometimes to lower the interest rate.


Do you have to include all credit cards in a debt consolidation?

No matter what company that you decide to go into, they will put up your credit report to see if you are eligible for debt consolidation. However, not all of them approve debt consolidation plans from credit counseling especially bank credit cards. First it will be a 3 month wait to see if they actually approve the credit counseling plan. After that, you will see payments begin posting. I will not agree to anything about no debt consolidation unless it is in writing and I can fax over my credit statements.


What is a consolidation credit card?

A consolidation credit card is a credit card someone will pick to use as their sole credit card for everyday expenses which typically has the lowest interest rate or the best benefits such as cash back or miles rewards programs. Also, if someone has other credit cards with higher interest rates, they can often transfer balances and "consolidate" them onto a single credit card with a lower interest rate, therefore lowering their monthly payment, costs and in essence, making the card a "consolidation credit card".


What does bill consolidation consist of?

Bill consolidation helps you to get out of debt. It helps to lower different interest rates on credit cards and other expenses.


Where can I find good credit cards debt consolidation in Boston?

Boston Credit Card Debt Consolidation is one place boston.massdebtconsolidation.com 198 Tremont Street, Boston - (617) 401-8439


What are airline credit cards and how are they different from regular credit cards?

Airline credit cards are credit cards issued by airlines. They have no real benefits over regular credit cards, apart from the fact that you can collect Air Miles with them.


Does American Express offer travel benefits on their credit cards?

It appears that American Express credit cards have levels of rewards on their cards. Rewards/benefits depend on the card that you have and the usage of the card.


What are some benefits of consumer credit debt consolidation?

Some of the benefits of consumer credit debt consolidation is that once you speak to another person about your situation, the weight can be lifted off your shoulders. Also a second opinion always helps you to understand your situation more.


What is meant by a consolidation personal loan?

Consolidation personal loans are used to pay multiple debts from just one single payment. They can be used to pay the debts of multiple credit cards, loans and store cards.


Where can you apply for a consolidating credit card?

There is no consolidating credit card, but if it's consolidation for credit cards then there are various means to achieve that. Through banks and other financial support groups you can apply for a credit card consolidation to simplify and even perhaps reduce repayment costs.


Are there any debt consolidation loans for people with bad credit?

Yes, there are plenty of debt consolidation loans for people with bad credit. These are especially designed to get all your loans and cards into one easy monthly payment.