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If you’re juggling credit cards, personal loans, or store balances, you’re not alone. Debt can accumulate quickly, and it’s often spread across multiple payments and interest rates. At Advance Financial, we believe it’s time to take control and streamline your debt.
Debt consolidation is a strategy that allows you to combine multiple balances into a single monthly payment. But is it always the right move? Let’s explore when debt consolidation makes sense, and when it may not be your best option.
Consolidation works best when you can reduce your overall interest rate or monthly payment. It may also help improve your credit by reducing your credit utilization ratio or eliminating missed payments across multiple accounts.
Here are a few examples where consolidation might be the right fit:
“The right loan should give you fewer bills, less stress, and more control.”
This option is best if you have excellent credit and can pay off your debt within the promotional period. For example, Advance Financial offers 0% APR for the first 12 months on balance transfers to our AFFCU Visa Credit Card.*
Keep in mind: if you don’t pay off the balance before the offer ends, a higher interest rate will apply.
These loans offer fixed rates and terms, making your payment predictable. They’re ideal for consolidating $2,500 to $15,000 in credit card or store card debt. At Advance Financial, we offer personal loans with flexible terms and fast approvals.
If you’re a homeowner, a Home Equity Line of Credit (HELOC) can offer a lower interest rate and the flexibility to borrow only what you need. Now through April 30, enjoy a special 1.99% APR for the first 6 months on new HELOCs.**
This may be the best choice if you’re consolidating over $10,000 or planning home improvements at the same time.
If you have poor credit, you may not qualify for a loan with better terms. Additionally, consolidation won’t help if you continue overspending. It’s important to address the habits that led to the debt in the first place.
Also, if your current debt will be paid off within a few months, consolidation might add unnecessary complexity.
Debt consolidation is a financial tool, not a cure-all. But when used wisely, it can help you regain control, lower your monthly bills, and move forward with greater confidence.
Advance Financial offers multiple ways to help. Whether you choose a personal loan, a balance transfer VISA? Credit Card, or our limited-time Home Equity Line of Credit special will depend upon your needs.
Let’s find the solution that works for you:
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*APR = Annual Percentage Rate. 0% APR applies to purchases and balance transfers for the first 12 billing cycles after account opening. When this period ends, your APR will vary based on the highest U.S. Prime Rate published in the Wall Street Journal on the last business day of the calendar month prior to your statement closing date (“Last Business Day”) and will apply beginning with the first billing period following the Last Business Day. We add a margin to the Prime Rate to determine variable APRs. All APRs are based on creditworthiness. Rates are accurate as of December 1, 2025, and are subject to change. See the card application's Important Disclosures for current terms, rates, and fees. This card is issued by TCM Bank, N.A. Subject to card approval.
**APR = Annual Percentage Rate. 1.99% introductory Annual Percentage Rate (APR) is available on Home Equity Lines of Credit (HELOC) with an 80% loan-to-value (LTV) or less. The APR is based on the person's creditworthiness. The offer is available for new applications submitted and is for a limited time only. Promotion eligibility applies to one borrower/member only, one time. At least one qualifying transaction must be made within 90 days of the HELOC open date for the introductory APR to apply. The introductory APR will remain fixed for the first 6 months and will begin on the date the HELOC is opened. After the introductory period, the APR becomes variable and adjusts based on the Prime Rate (the index) as published in the Wall Street Journal. As of December 11, 2025, the prime rate was 6.75%. The variable rate is as low as 6.50%. Variable interest rates may vary according to creditworthiness. The lifetime APR will not exceed 18% and will not fall below 3%. Loans are subject to approval and program guidelines. Interest rates and program terms are subject to change without notice. Property insurance is required. Customer pays no closing costs or appraisal fee. Consult a tax advisor regarding the deductibility of interest.