 TITLE: Should I Pay Off My Credit Card With a Personal Loan? CONTENT: Is It a Good Idea to Pay Off Credit Card Debt With a Personal Loan?\n-------------------------------------------------------------------\nIf you're struggling to afford credit card payments, taking out a personal loan with a lower interest rate and using it to pay off the credit card balance in full may be a good option.\nA debt consolidation loan with a low interest rate could mean owing less per month, which can help you make loan payments on time. A lower interest rate may also leave you with more money to put toward the loan balance, allowing you to pay it off earlier.\nBut before you use a personal loan to pay off credit card debt, consider not only the interest rate you receive, but also the repayment term lenders offer. Choosing a longer repayment term than you would have needed to pay off the original credit card debt could cost you more in interest. If a longer repayment term helps you afford to repay the debt, though, it could protect your credit from the effect of missed payments, making the choice worthwhile. END