How To Get a Bill
By Mike Clifford
You'll find various avenues to consolidate your
outstanding debts without having to pledge a collateral. This article talks about a highly sought after
This solution is the credit card for bill
It is very common for debtors to move all their debts from varied sources
to a sole credit card. Thus they now have reduced the number of stakeholders they need to address from many
to just one which is very convenient.
People go for this kind of loan
consolidation as it involves minimal steps for getting sanction. Besides, you do not need any
explicit assurance or guarantee to avail this loan.
Moreover, institutions would be more than willing to help you in this
regard, if you are looking to use their credit card for consolidating your outstanding debts. They may
provide appeasing clauses including:
- Zero interest usage for many months. You can easily get terms allowing you interest-free
credit card service for a year.
- Even after the zero-interest duration, the interest rates that they get are much below the
existing rates that you'd have to pay. This is highly attractive for persons that cannot offer security
for their loans. But beware of the conditions and clauses in the loan document. In most cases, you will
find three red flags”
- If you miss the payment deadline you lose your interest-free status instantly and it gets
worse. Your potential interest rates get bumped up after the grace period. This in effect could mean that
you end up with a new loan with a higher rate that what you presently
- Even if the payment does not reach the company for no fault of yours like in the case of
incorrect payment processing, you are still considered a defaulter and above rule would
- NOTE: Hence it is advisable to keep detailed information and proof of all your payments.
This would help you a great deal in case the late payment issue comes up for contention
Along these lines you could explore options of automating these payments
through online services. The online service has the benefit of making timely payments and recording the
There are strict penalties for breaking your credit limit though. This
could be something as simple as fines to something more damaging like end of your zero-interest benefits. As
a result, you are always better off making prompt payments of your outstanding credit card bills if you opt
for credit card bill consolidation loan; more so if it is
unsecured. The safest practice is to make monthly payments.
With a credit card for bill
consolidation loan, you would end up with a reduced debt, at the end of the zero-interest. In addition to
this, you would not have any new debts to tackle as you will not be using the new credit card to make
This article has given you the basic advantages and
drawbacks of a bill consolidation loan without collateral.
Now you can start looking into it further.