Millions of Americans are so far into debt that they need to find a solution to the problem ASAP. Debt consolidation is an excellent solution because it can help the person to organize credit as well as increase the credit score over time. Many banks offer consumer consolidation solutions such as consolidation loans, home equity loans, lines of credit, and even balance transfer cards that can help with their debt. The following are six of the best banks for consolidating one’s credit in this day and age:
US Bank is a reputable financial institution that boasts its advantages. A consumer can apply for the premier loan and use the proceeds to consolidate their debt. The Premier Loan is a loan of up to $25,000 that has a low APR of only 6.99 percent. A consumer can save a lot of mone on his or her debt simply by taking advantage of that low APR. other features that US Bank is proud of is its flexibility and its integrity. The establishment offers at least four different types of financial products that can help someone who is struggling with debt.
Discover is another banking institution that has been around for many years. It offers consolidation loans that are slightly higher than the ones that US Bank has to offer. Discover offers loans of up to $35,000. The one way that such loans differ is in the APR. Instead of offering a fixed interest rate of 6.99 percent for all, Discover allows the interest rate to adjust according to the consumer’s credit score. That system allows more consumers to become eligible for the advance. Even some people on the lower end of the credit score scale can get help. The Discover loan comes with a term of up to 84 months, and consumers have a period during which they can return the funds with no repercussions if they would like to cancel the advance.
The Lending Tree
The Lending Tree is an excellent place to search for a consolidation loan because it networks with a number of lenders. An interested person can sign up with the Lending Tree within five minutes and have the provider searching for a suitable lender that fast. Their personal loans are as high as $35,000, and they can be spread over five years. This company also offers student loan consolidation help. They can refinance student loans and give students APRs that are as low as 2.21 percent.
Bank of America
Bank of America is one of the longest standing banks in the industry. It is proud to offer its debt consolidation loans. Customers can request debt consolidation loans of up to $ 25,000. They can enjoy APRs that are between 9 and 25 percent. Consumers have rated Bank of America’s loans with four stars for their glowing customer service and high approval rate.
TD Bank is another bank that has been around for many years. The bank has a few options for its customers for debt consolidations. Their express loans are super-fast advances that they can have in their hands within 48 hours. The express loans rates have an 8.99 percent APR, and they can be as much as $15,000. Interested person can use the safe and secure application in to request their funds.
Wells Fargo is another giant in the banking industry. Interested persons can obtain a consolidation loan from this trusted bank. Wells Fargo is probably the best out of them all for patience. The interest rates that people can experience through Wells Fargo are rates as low as 3.99 and as high as 10.99.
Choosing the Best Option
As a consumer, you should want to go with a company that offers you the best interest rate. Unfortunately, not all people will get the best interest rate that if they have poor credit, but it still may be better than what they currently have.
An interested person can apply for help from any one of these banks by visiting the page on student loan debt consolidation and then putting in an application. The application only takes a few minutes. The loan process may be completed the same day for some people. Interested persons should call or contact the company by written request.