I’ve covered personal finance for years, and lately I’ve noticed more savvy borrowers skipping balance transfer credit cards and choosing personal loans instead to tackle credit card debt.
It comes down to getting more control, locking in predictability, and sometimes saving more money in the long run.
If you’re trying to decide between these two debt payoff options and the reasons below make good sense to you, then a personal loan might be the right solution for you, too.
Balance transfer credit cards lure people in with 0% intro APR offers. If you can pay off your balance within the promotional window — often 12 to 21 months — you can save a lot on interest. But if you don’t pay it off in time, you could get hit with a much higher rate when the promo ends.
Personal loans can give you a competitive fixed rate that doesn’t expire, especially if your credit is solid. This means you know exactly what your payment will be each month until the debt is gone, with no surprises.
Thinking about a personal loan? Many top lenders let you check your rate with no impact on your credit, so you can compare side-by-side with balance transfer offers.
2. A clear payoff date you can actually plan around
One of the biggest challenges with credit card debt is that it’s open-ended. Even with a balance transfer card, it can be tempting to continue using the card or rolling your debt to a new promo when the old one ends, which drags out your payoff timeline.
A personal loan comes with a clear repayment schedule — typically two to five years — and a set monthly payment. You can circle the date your debt will be gone on your calendar and build your budget around it. That structure can help you stay on track and avoid carrying debt year after year.
If you’ve struggled to pay down your credit cards or you’re tired of juggling due dates, the simplicity of a personal loan might give you the mental breathing room you need. Many top lenders let you check your rate with no impact on your credit, so you can compare side-by-side with balance transfer offers. Visit our best personal loans page now.
3. Flexibility to tackle more than just credit card debt
Balance transfer cards are limited to credit card debt, but personal loans can help you consolidate multiple types of high-interest debt. If you have medical bills, payday loans, or even personal expenses you put on high-rate credit cards, a personal loan can combine them into one payment at a potentially lower rate.
This can help you streamline your monthly bills while working toward becoming debt-free. You won’t need to juggle multiple due dates or worry about missing a payment on one of your cards, and the consistency can help you build momentum on your financial goals.
Ready to see if you qualify for a personal loan? It generally only takes a few minutes to check your potential rate online, and it could save you money compared to sticking with credit cards. Start by checking out our best personal loans page now.
Why it might be worth comparing your options now
If you’re carrying high-interest credit card debt, you have options — and exploring them now could put you in a stronger financial position for the rest of the year.
Balance transfer cards can be a great tool if you’re confident you can pay off your debt before the promo ends, but they’re not your only option. A personal loan could give you a lower fixed rate, a predictable payment schedule, and a clear debt-free finish line.
