Card Card Consolidation Loans
TEG understands you have a story behind your credit score, and we are ready to help you break free from high-interest debt with a credit card consolidation loan tailored to fit your needs.
At TEG, we don’t just provide credit card consolidation loans. We work with you to develop an action plan for success every step of the way. We’re always ready to discuss your options, and provide you with the info you need to make the best decision possible.
Get a handle on your high-interest credit card debt by calling 845.452.7323 today. Freedom is only a call, click, or visit away.
A TEG Credit Card Consolidation Loan can help you:
- Combine high interest credit cards and other bills into a single payment
- Lower your interest rate
- Save money (potentially thousands of dollars)
- Get out of debt in a fixed period of time
- Potentially improve your credit score by lowering your credit utilization ratio
- Streamline your monthly payments
Why Choose TEG For A Credit Card Consolidation Loan
The biggest question we get at TEG Federal Credit Union is ‘can someone with a large amount of credit card debt qualify for consolidation loan’? In many cases the answer is yes.
When you apply for a Credit Card Consolidation Loan with TEG you will receive a free credit review from one of our lending experts. We will look at all your high-interest debts and make a plan to consolidate them into one new loan to save you money, strengthen your credit score, or both.
Even if our team is unable to offer you a credit card consolidation loan during your first inquiry, we refuse to give up on you.
We take the time to develop a financial plan that sets you up for success, and will better prepare you for a debt-free future. Our team will stick with you during the process and look for ways to help you meet your financial goals.
See How Much You Can Save By Consolidating Credit Card Debt
Your credit card debt solution doesn’t have to involve high-interest rates, large commission fees, or exorbitant monthly payments. Take the stress out of debt and simplify your story with a credit card consolidation loan that rolls all your payments into a low, convenient monthly bill. Pay off debt faster with every installment!
Our team can help you save over $10,000 worth of payments, and empower you to get out of debt in as little as five years.
Check out the scenarios below to see how much you could save with a credit card debt consolidation loan.
|Creditor||Balance Owed||Minimum Payment||Payoff||Interest Rate||Total Interest Paid|
|Department Store Credit Card||$347.32||$12.00||9 years||24.50% APR||$405.68|
|Overdraft Line of Credit||$439.94||$13.00||11 years||21.15% APR||$490.06|
|Major Credit Card 1||$2,003.67||$40.00||12 years||15.24% APR||$1,881.33|
|Major Credit Card 1||$12,651.57||$197.95||29 years||$1,478.85 @ 22.99% APR and $11,333.89 @ 4.99% APR**||$11,237.43|
|Total of Above Debt||$15,442.50||$262.95||29 Years||$14,014.50|
|Consolidate with a TEG Personal Loan and You Could Save Big!*||$15,442.50||$302.51||5 Years||6.55%||$2,707.44|
*APR = Annual Percentage Rate. Subject to credit approval. Rates are based upon applicant’s creditworthiness and are subject to change at any time without advance notice. Other rates and terms are available. A 60-month term for a Personal Loan with a fixed rate of 6.55% APR would result in an estimated payment of $19.59 per month for each $1,000 financed. Monthly payment of $302.51 is based on a rate of 6.55% APR for 60 months on $15,442.50. The approximate time for payoff shown here assumes that you make no additional charges with this card and each month you pay the minimum payment.
**$1,478.85 at 22.99% APR (purchases); $11,333.89 at 4.99% APR (balance transfer).