Ideas for transferring high interest credit card balance to loan, etc.?

IamJen

Not sure if my title makes sense there. I have a balance on a high interest Barclaycard and would like to find a way to try and pay it off at a lower interest rate. Is there any sort of special loan for this?

redpete

There are no specific types of loan designed to do this. You could try a 0% CC or low interest offer and do a balance transfer from the existing card; one problem with this is that the low interest period is likely to have a limited period and at the end of the period it will go up again. The first thing to do is see what can possibly be done to pay off the debt rather than transfer it somewhere else.

IamJen

I am working on paying it off, but a 22% interest rate is killer.