Auckland, New Zealand, October 17, 2019 –(PR.com)– The steep interest rates on credit cards can undermine their convenience, and personal loans with lower rates should be considered an attractive option to consolidate credit card debt, according to Nectar. One of New Zealand’s leading online loan companies, Nectar believes that using a personal loan for credit card payments makes sound financial sense for Kiwis struggling with mounting debts.
Late credit card repayments can have a negative impact on a credit score, and more recent late payments will have a proportionately larger impact. Ultimately, these credit struggles can impact a credit score for some time.
Personal loans, meanwhile, are labelled, “installment loans,” by credit agencies and, like credit cards, paying them in a timely manner can boost your credit score. This is yet another reason why Nectar’s personal loans are a great solution to credit card debt. Not only can Kiwis effectively refinance their credit card debt with lower interest, they can do so to the benefit of their credit scores.
Entirely New Zealand owned and operated, Nectar has revolutionised the loan process in New Zealand, putting the power back into the hands of borrowers and helping Kiwis regain control of their financial futures. With their 100% online process, Nectar empowers Kiwis to get the money they need when they need it, using real-time credit decision technology to provide flexible loan offers in as little as seven minutes.
With competitive rates and flexible terms, Nectar offers personal loans in NZ to take the sting out of credit card debt.
For more information regarding the simplicity and convenience of Nectar’s 100% online personal loan system, click here: https://app.nectar.co.nz/apply/getstarted
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