Balance transfer credit card vs. personal loan

If you’re looking for the cheapest way to pay down your high-interest credit card debt and you have a good credit score, you have options, including balance transfer credit cards and unsecured personal loans. Either choice will help you consolidate your credit card debt and eventually become debt-free, but there are several factors you should consider while weighing a balance transfer versus a personal loan.

a person is using the cell phone: Man paying credit card with balance transfer credit card

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Man paying credit card with balance transfer credit card

Snapshot: Balance transfer credit card vs. personal loan

Balance Transfer Credit Cards Personal Loans
Type of debt Better for smaller debt that can be paid off in full in a shorter amount of time Better for larger amounts of debt that may take years to pay off
Repayment terms Need to pay the balance in full by the end of the 0% APR period Need to make fixed payments each month for the
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Japanese Economy Struggles With Recessions

Japanese GDP shrank by an annualized 27.8 percent in Q2 of 2020, marking the third consecutive quarter of negative growth and the biggest decline on record. In fact, the Japanese economy has been no stranger to recessions even before the coronavirus outbreak.


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The country experienced three albeit milder recessions between the COVID-19 pandemic and the global financial crisis (when looking at quarter-on-quarter growth). The first was caused by the devastating earthquake and tsunami that hit Japan in 2011, while the other two and single negative growth quarters can be chalked up to the long period of stagnation the Japanese economy has found itself in since its asset price bubble burst in the 1990s.

In the aftermath of the crisis, Japan amassed a mountain of debt that it carries to this day. An aging population and a shrinking consumer market are other factors making it hard to revive the

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Capital Legacy shakes up the South African financial services industry

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Over the last eight years they have provided more than 300 000 clients with Wills and indemnified over R 70 billion in fees that arise during the estate administration process, which has aided them in gaining invaluable experience and insight into consumer needs and trends.

“We have spent the last eight years building on two primary missions: firstly, helping more South Africans get valid wills in place and secondly, protecting our clients from the unexpected costs associated with dying,” says Alex Simeonides, co-founder and CEO of Capital Legacy.

Capital Legacy drafts more than 6 500 Wills for new clients every month and is trusted by more than 4 500 financial advisors countrywide, firmly entrenching its position as the single largest provider of Wills in the country and affirming their tagline of “Leave a Legacy”.

Shaking things up

This week, Capital Legacy shook up the South

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