I recently transferred my remaining two credit card balances to a card with a balance transfer rate (APR) of 4.99%. I am paying off the card at the rate of $1000 a month. I should have the card paid off by the end of the year. A Lender called me today (I had paid off the lender) and said I should consider an %26quot;installment loan%26quot; with the lender at a higher rate (8%). She said my APR was %26quot;revolving credit%26quot; and she could offer me %26quot;installment credit%26quot; which was better, even at the higher rate. What%26#039;s the difference in the two? Would I save any money with an installment loan?
What is the difference in APR between revolving credit and installment credit?heart rate
no sweetie you wont be saving money because THEY ARE CHARGING YOU HIGHER INTEREST
no matter how good they try to make it sound you are not saving a dime with a higher interest rate than what you have right now
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