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Credit Card Consolidation Loans

Check your rate & limit. No credit impact. No SSN. No hidden costs.

Credit Card Consolidation Loans

Check your rate & limit. No credit impact. No SSN. No hidden costs.

A loan that combines balances from multiple credit cards into one card.

Save money and pay off your credit card debt faster with a credit card consolidation loan. By reducing your interest rate, you’ll make it easier to manage your payments. Plus, it can even boost your credit score by demonstrating responsible repayment and reducing your overall debt.

Don’t let debt hold you back – consider a credit card consolidation loan today.

Understanding the Credit Card Trap

Did you know the average American household carries $6,358 in credit card debt?

If that isn’t alarming, consider this: A debt of $5,000 with an average interest rate of 24.99% where only the monthly minimum payment is made can accumulate $3,809 in interest over five years.

Let’s take a look at credit card usage to learn how to stay in the clear.

The minimum payment mindset

Most people fall into credit card debt like this: they use their card for a purchase they can’t afford or want to delay payment on, and then they only make the minimum payment. Before long, they start using the card for purchases beyond their budget. Since they’re only making minimum payments, it doesn’t seem to matter if their credit card balance grows a little larger.

When you’re trapped in this mindset, your balance barely budges. A minimum monthly payment on a $5,000 debt generally amounts to $150. But only $47.30 of that goes toward the principal of your debt. The rest goes toward interest.

Credit scores and prolonged debt

Using a large portion of your available credit can lower your score, especially if you’re stuck in the minimum payment loop. Progress in paying down your balance is crucial for a higher score.

But why does this matter? Well, a low credit score can hinder your chances of getting a mortgage, auto loan, or even a job. And if you do get approved, brace yourself for higher interest rates and more money paid in the long run.

Should you throw out your credit cards?

Maintaining a strong credit score is essential, but it requires smart credit card usage. Here’s how you can do it:

First, live within your means to prevent credit card debt from piling up. Consider the true cost of your purchases, including interest, to protect your financial well-being.

Second, tackle larger balances head-on by paying more than the minimum requirement.

Third, use your credit cards for necessary expenses to keep your accounts active while avoiding unnecessary spending. Timely bill payments are crucial to avoid interest fees.

Lastly, consider transferring your balance to a card with a lower interest rate. For example, swapping a high-interest Capital One card for a United Texas Credit Union credit card could cut your interest payments in half and help you pay off your debt faster.

Follow these steps for a healthier financial future without compromising your credit score.

Rates & Calculator

Loan Calculator

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Enter your loan details to see your repayment information

Disclaimer: Information and interactive calculators are made available to you as self-help tools for your independent use. We cannot and do not guarantee their applicability or accuracy in regards to your circumstances. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

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For an accurate determination of your options, please click on the red “Apply Now” button, complete our short application, and see your credit card consolidation loan offers, with no impact to your credit.
Platinum Mastercard®
Platinum Mastercard®as low as 13.75% APR*

*APR = Annual Percentage Rate. Rates are effective as of September 18, 2024.
Minimum interest charge = None. Available APRs: 13.75%, 17.75% (all variable)

Starter Mastercard®
Starter Mastercard®17.75% APR*

*APR = Annual Percentage Rate. Rate effective as of September 18, 2024.
Minimum interest charge = None.
Foreign Transaction Fee = up to 1% of each transaction in U.S. dollars.

Frequently Asked Questions

The short term, you might end up paying less each month than you did with multiple different minimum payments, keeping more money in your pocket. In the long term, you might get a more favorable interest rate and pay less interest over time as well.

Getting a Credit Card Consolidation Loan with us is fast and easy:

Here are the simple steps:

STEP 1
Contact us in person, online, or by phone and complete a quick loan application to see your pre-qualified credit card consolidation loan offers, with no impact on your credit.

STEP 2
Open a savings account with a $5 minimum opening deposit if you are NOT already a member of United Texas.

STEP 3
Sign your loan documents in person or electronically.

Yes, we’ll help you get your existing credit card debt paid off and applied to your new United Texas Mastercard. You’ll then have the convenience of one monthly credit card payment.

No, you have the flexibility to prepay without penalty.