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.

Limited Time Offer – Get $350*

with a personal or debt consolidation loan of $10,000 or more.

  • Rates as low as 6.55%*
  • Flexible loan terms – up to 60 months
  • No application fee
Young Woman excited about TEG's Personal Loan $350 Offer

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.

CreditorBalance OwedMinimum PaymentPayoffInterest RateTotal Interest Paid
Department Store Credit Card$347.32$12.009 years24.50% APR$405.68
Overdraft Line of Credit$439.94$13.0011 years21.15% APR$490.06
Major Credit Card 1$2,003.67$40.0012 years15.24% APR$1,881.33
Major Credit Card 1$12,651.57$197.9529 years$1,478.85 @ 22.99% APR and $11,333.89 @ 4.99% APR**$11,237.43
Total of Above Debt$15,442.50$262.9529 Years$14,014.50
Consolidate with a TEG Personal Loan and You Could Save Big!*$15,442.50$302.515 Years6.55%$2,707.44
*Rates effective as of 4/1/2021. Advertised rate “as low as”. Your rate may vary from rates shown. The maximum APR is 18%. Rates are subject to change at any time without advance notice. The stated rate is discounted by .25% and includes a requirement that loan payments are automatically transferred from your savings, checking, or money market account for the life of the loan. Terms from 3 months to 60 months. Borrowers may request shorter terms, if desired. An additional .50% will be added to APR for each $5000 incremental increase over $30,000. For example, $10,000 loan for 36 months at 6.55% APR has a total cost of $11,043.90 over the full term.
* Maximum amount to be earned is $350. Loan subject to credit review. Members must be in good standing with the credit union to receive this offer. Once available, cash back will be deposited into member’s account and then these funds will immediately be applied to the first loan payment. Funds earned are considered interest income and may be reported as such on IRS Form 1099-NT. Offer subject to change or be discontinued at any time without notice. See credit union for full details. Offer ends 3/31/2022.

*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).