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The Best Way to Consolidate Christmas Debt

Did you know that the average American spent around $1,000 on holiday gifts and decorations last month? That figure includes those who don’t buy gifts at all. So, if Santa stuffed your family members’ stockings full of toys and treats, and left you with receipts and pending payments well in excess of the American average, you’re not alone.

Now that the holidays are over and Santa has (once again) officially declined your generous offer of milk and cookies as payment for all the presents, Utah First has one last gift just for you. Through the end of January, you can bundle all your holiday expenses using Orange Platinum Visa and get a great 6.75% interest rate! That’s less than 1/3 the rate of most credit card APRs! Best of all, the 6.75% rate is good for the life of the loan—it’s locked until paid off.

What is a Balance Transfer?

Essentially, a balance transfer means moving your existing credit card balance(s) from one or multiple cards over to another credit card—in this case, Orange Platinum Visa. If you used a few different credit cards to pay for Christmas and you’re currently on the hook for high interest rates on each, a balance transfer can help you consolidate your obligations into a single card with a great rate. 

3 Benefits of Balance Transfers

 
1. Save Money
First and foremost, the biggest benefit of a balance transfer is to save you money. If you can lower your interest rate by shifting your existing balance(s) to another card, a balance transfer makes all the sense in the world. Add the benefit of locking in a great interest rate for the life of the loan and the balance transfer becomes a no-brainer.

2. Find a Better Lender
When it comes to credit cards, not all lenders are alike. You can use a credit card from a big bank lender, and if you ever have an issue—a suspicious charge, a problem with your payment, etc.—you’re at the mercy of a national lender, whose response time, customer service, and attention to detail usually leaves a lot to be desired. By moving your balance(s) to a member-first credit union, you get a great rate and customer service that can’t be beat.

3. Simplify Your Finances
Instead of keeping track of multiple balances, multiple payments, and trying to calculate how much interest you owe on each credit card, debt consolidation can greatly simplify your finances. By transferring your balances to Orange Platinum Visa, you have one card, one balance, and one great 6.75% rate that won’t change for the life of your loan.

Even if the holidays were expensive, you can still save money in the new year with Orange Platinum Visa and a great 6.75% balance transfer rate through the end of January. So, please accept our belated holiday gift to you. Talk with one of our friendly, helpful financial experts to see if a balance transfer makes sense, or apply for Orange Platinum Visa online today.

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