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mjoeygv

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Is getting a loan to pay off credit card debt better than a credit card?

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In most cases the answer is yes. But if you are able to get a zero percent transfer card and can pay it off before the zero percent period ends, then a credit card may be better financially, but not for scoring purposes. Getting an installment loan would get rid of your credit card utilization and that would help your credit. If you go the installment loan route, make sure that you get one that is reported to all three credit bureaus. Find that out before applying.

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