Here’s a (Legal) Way to Stop Paying Your Credit Cards

TPH photo editor, Alexa Vincent, in various scenes showing credit card debt, consolidation and bankruptcy on August 14, 2018
Aileen Perilla/The Penny Hoarder
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When you think about how much credit card debt you have, you might feel a little anxious.

And the truth is, your credit card company doesn’t really care. It’s just getting rich by ripping you off with high interest rates

It’s like you can never get a break.

Let This Company Help You Get Rid of Your Credit Card Debt

But a website called AmOne wants to help.

If you owe your credit card companies $50,000 or less, AmOne will match you with a low-interest loan you can use to pay off every single one of your balances.

The benefit? You’ll be left with one bill to pay each month. And because personal loans have lower interest rates, so you’ll get out of debt that much faster. Plus: No credit card payment this month.

Take, for example, Katherine, who faced $12,000 in credit card debt. Holding her back? The 15.24% interest rate. By refinancing with a 5%-interest, seven-year personal loan, she saved $12,000 in interest.

If she’d kept on the same road, she would have paid something like $14,000 in interest alone over 25 years. Yikes.

So even if you’re simply curious about what’s out there, checking rates on AmOne won’t hurt your credit score — and can probably save you money.