Pay Off Credit Cards with
A Lower Interest Loan
With low interest rates, a fast online application, and an instant obligation-free quote if you qualify, you don’t have to wait two years, a year, or even six months. You can pay off your credit card debt this week.
Want To Pay Off Credit Cards?
Credit cards can be a great tool when used smartly.
But if you’re not careful, you can get in over your head, which isn’t so great.
The average credit card debt for Canadians over the age of 18 is over $2,600
According to Ipsos Reid, over 1 in 3 Canadians say that credit card debt is a significant source of stress.
Most credit cards in Canada charge interest rates of 19.9%
Borrow up to
from 5.6% APR
in 60 seconds
No hidden fees—
pay back anytime
with no penalties
Learn How Much You Can Save
Calculate Savings vs. A Credit Card
Credit card calculations assume a fixed monthly payment of 2.5% of the current balance. Making only the minimum monthly payment could mean it will take longer to pay off your credit card(s). You should refer to your credit card statements for payment information. The Borrowell interest rate is an estimated annual percentage rate (APR) including the origination fee. Your rate may be different. Borrowell does not guarantee applicability regarding your individual circumstances.
Know when you’ll be debt free
One of the great things about consolidating your credit card debt with Borrowell is that we offer fixed interest rates, which also means your regular monthly payment will never go up. Your fixed monthly payment also helps pay down your loan balance – so at the end of the 3 or 5 year term, your loan will be fully paid off, no matter what happens with interest rates elsewhere. See you later, credit card debt.
Pay it off early—no prepayment penalties
You can even pay off your loan early. You can make extra payments on your loan, or pay off the whole thing early if you choose. You’ll save the interest you would have been paying, and we don’t charge any prepayment penalties or fees.
Fix Your Credit Card Debt
Did you know that most credit cards in Canada charge interest rates of 19.9%, and many store cards charge 29.9%? Getting a personal loan with Borrowell at a lower rate can save you loads in interest. Rates start from 5.6% APR. Even an interest rate of 12% or 14% would result in significant savings in interest over the life of a loan. So paying off credit cards with a smarter, lower interest loan is a great place to start if you want to reduce your debt.
With a loan from Borrowell, you can pay off credit card debt and consolidate everything into one convenient monthly payment. And you can do it almost immediately. Our online loan solution lets you pay off credit cards in as little as 48 hours!
And unlike many credit cards where rates can increase, Borrowell’s interest rates are fixed. This means no teaser or introductory rates that go up after a certain period of time. This is your opportunity to consolidate and pay off your credit card debt, and lower the interest rate you’re paying, saving you thousands of dollars in interest and cutting down the years required to pay back debt. It’s as simple as that.