Your Path to Financial Freedom
January 08, 2021 | White Rose Credit Union | Financial Wellness
Debt can add up quickly, especially after the holidays. Depending on your situation, there are a variety of options available at White Rose Credit Union that can help you chip away at your debt and work towards your financial freedom.
Visa Balance Transfer
If you have multiple credit cards with high balances, or a credit card with a high APR, a Visa Balance Transfer may be ideal for you. Moving your balances to one card means one easier monthly payment and less hassle. On top of that, White Rose Credit Union is offering no interest for 12 billing cycles on balances transferred between now and the end of March! * Paying zero interest means you’ll be putting more of a dent in your debt, since your payment won’t be contributed to your monthly interest charge.
If you have multiple payments for different types of debt that you’re having trouble paying down, a personal loan to consolidate may be an option. Your debt would be managed with one monthly payment, all from one place. White Rose Credit Union offers personal loans with rates as low as 8.99% APR**. When you borrow between $2,500 and $20,00 now through the end of March, you’ll have no payments for 60 days! ***
Home Equity Loan or Line of Credit
Another way you can pay off your debt at a better rate, and faster is with your home’s equity. A low-rate home equity loan or line of credit can help cover expenses for credit card debt, educational expenses, holiday spending and more. Sometimes referred to as a “second mortgage”, the loan is based on the value of your home, and payed back like a mortgage. A Home Equity Line of Credit works like a credit card, where you borrow as you need, up to as much as your approved for. A Home Equity Loan works like a traditional mortgage, where you are lent the full amount of what you are approved for upfront. No matter which option you look at, many people overlook their home’s equity as a powerful tool to pay down other debts.
Need assistance or advice when mapping out your finances? Sitting down with a professional to review your budget or create a game plan is a great tool to gain insights to your financial options, wellness, and potential. You can sit down with a Senior Member Service Representative at White Rose Credit Union to review your financial wellness for FREE! Visit whiterosecu.com or call 888.755.9773 to set up an appointment.
*Annual Percentage Rate (APR). Offer valid on balances transferred between 1/1/2021 – 3/31/2021. A 3% transfer fee applies. After the promotional period ends, the remaining balance will be the everyday Low Rate 6.49% APR for Visa Platinum or 10.49% APR for Visa Classic. Must qualify for membership. Some restrictions apply. Federally insured by NCUA.
**APR (Annual Percentage Rate). ***Offer valid 1/1/2021 – 3/31/2021 Must qualify for membership. Some restrictions apply. Federally insured by NCUA.