Credit Card Debt Payment with Title Loans

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The Evolution of Credit Cards

The idea of credit has been around since the beginning of time almost. Credit as we know today has only been around since the early 20th century. Credit cards today, allow you to purchase anything anywhere, at any time. These cards are super small, yet mighty, in all that they do and offer customers. They are such an important part of the financial world.

Convenience Store

About a hundred years ago or so, if some visited their local convenience store often and one day happened to be short to pay the bill, the store clerk could offer them the items on credit. In small, close-knit towns this was an okay thing to do because everyone knew each other, and there were much less people in towns to keep track of.

Diners Club Card

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This was the first ever charge card. It was developed when Frank McNamara forgot his wallet while having a business dinner. His wife picked up the tab that night, but he vowed that he would never be embarrassed like that again. A year later he returned to the same restaurant and developed the diners club card. It charged users $5 a year and establishments 7% of each year. It wasn’t until 1961 that the plastic Diners Club charge card was introduced to the market. The charge card balance had to be paid at the end of every month, but this was the start of the credit card innovation.


BankAmericard, now known as a Visa credit card, was the very first real credit card. It was first issued in 1958. This card allowed you to make purchases, and pay back the money over time, not all at once like charge cards required. The BankAmericard, was named after Bank of America. Eventually, through a cooperative, banks across the country were able to issue these cards to their customers. As a result, Visa was born in 1976.

MasterCard, was born out of the same kind of cooperative with several banks, in 1966. Before it was MasterCard, it was known as the Master Charge/Interbank Charge card. It was created as competition to the BankAmericard, because at the time they were the only card of the sort on the market.

Deregulation of Credit Cards

There was a Supreme Court ruling that deregulated the banking systems control of credit cards. It concluded that national banks could in fact charge consumers in other states the interest rate set in the bank’s home state.  However, this caused a lot of banks to move to states that didn’t have a cap on interest rates, and they could make them however high they wanted to.

Success of Reward Programs

Citibank was the first bank to offer rewards for using its credit card, it had a partnership with American Airlines. This one deal, led to every other major credit card company figuring out how to offer their customers rewards. It also caused people to use their cards more, since they were being rewarded for it.

Credit Card Reforms

There was a reform package that prevented credit card companies from raising interest rates on an account’s current balance. It also prevented credit card companies from changing the interest rate in the first year of the credit card agreement, unless previously stated.

The Future of Credit Cards

Credit cards will never go away. Companies will continuously come up with new rewards systems and incentives to get people to sign up for them. However, to keep their bottom line intact, credit card companies only vet the best consumers who will be able to pay off their debts. It is possible that physical credit card use will grow less and less popular, with things like Apple Pay, Samsung Pay, etc. it is just so convenient to have everything you need, on your phone. Credit card companies are also tasked with making sure that their customer’s private information is secure at all times, and not just after there is a breach of sorts.

Credit cards have been constantly evolving since it has been mass produced to assist people in their everyday lives. Nothing in life is constant, so it is likely that they will only continue to change and get better over time.

How to Get the Most from Your Credit Card- Hacking Benefits

Most Americans have multiple credit cards that they use on a daily basis. However, not all are aware of how to get the most from them.

15 Major Credit Card Companies:

  1. Visa
  2. MasterCard
  3. Chase
  4. American Express
  5. Discover
  6. Citibank
  7. Capital One
  8. Bank of America
  9. Wells Fargo
  10. US Bank
  11. USAA
  12. Credit One
  13. Barclaycard US
  14. First Premier Bank
  15. PNC

Many people are familiar with the phrase life hacks which means to do something in a more efficient, beneficial way. Life hacks exist in all aspects of society, including the financial world, in the form of credit card benefit hacks. Hacking credit card benefits, is an easy way to get the most from using credit cards. There are a few things to keep in mind when it comes to using credit cards including perks, rewards, and cashback.

Understanding the Different Benefits in the Credit Card World

There are many benefits that accompany most credit cards:

  • Low or No Interest Rates– This is one of the most important things to pay attention to when looking at credit cards. This is because interest rates are the most expensive costs that are associated with credit cards. Having zero or no interest rates can make a huge difference when it comes to getting the most from your credit cards. No matter what other perks a credit card comes with, this can be the most important to consider.
  • Air Miles– Many credit cards offer users air mile points that can be used to buy plane tickets. For people who travel often, having a card with air mile benefits is crucial.
  • Gas Mileage- These credit cards will give users cashback when gas is bought. Some cards are geared towards a specific gas company, while others treat all gas companies the same way. For those who use a car to travel, the rewards from these types of credit cards can really add up.
  • Hotel/travel Benefits- These credit cards are usually offered from hotel chains who are looking to build customer loyalty. For people who use hotels when traveling, this type of card should be an essential part of their wallet.
  • Cash Back/Point-Reward System- Some credit cards offer a percentage of cash back whenever they are used, others give out points that can be redeemed for purchases or even cash. This is a great card to use for everyday purchases.

Credit Card Hacks to Get the Most Benefits!

A person should determine what credit cards are in their wallet based on their lifestyle and the amount of interest each card carries. Now that the perks are understood, here are a few hacks that can help get the most from credit card’s benefits:

Credit Card Hack #1: Use a Credit Card for Every Single Purchase

The fact is that most people nowadays do not use cash, instead they will use their debit card. But what they might condider doing instead is using their credit card for those daily debit card expenses. Then, to avoid interest, pay the balance accrued at the end of each statement period. Debit cards do not offer any rewards for using them, while on the other hand, using a credit card is the best way to get something back for spending. Overtime, those small cashback amounts, or air miles can add up to a large reward.

 Credit Card Hack #2: Have a Variety of Credit Cards

Because there are so many different types of credit card rewards out there, it is important to have a variety (this should be done responsibly as having too many credit card accounts can hurt a person’s credit score). Having a variety of credit cards can help a person get the most from their everyday expenses. For example, some credit cards offer cashback at gas stations while others offer cashback at restaurants. By using the credit card with benefits respective to the scenario, a person can get the most rewards from using credit.

Credit Card Hack #3: Keep Track and Use Your Rewards Before They Disappear!

Sometimes rewards with credit cards may expire. It is important to keep track of all rewards and benefits that are available on a credit card account and to actually use them.

Credit Card Hack #4: Pay No Interest

This is a huge hack because interest can be an expensive part of using a credit card. To avoid paying interest at the end of the month, try and make any large purchases at the beginning of the month (or whenever the billing cycle for the card ends) to give yourself time to pay, and pay off smaller expenses as soon as possible. By doing this, a person can pay no interest and still get the benefits of using a credit card.

Credit Card Hack #5: Get the Personal and Business Version

When it comes to credit cards there are usually a personal and business version of the same card. By getting both versions, a person may be able to increase the amount of rewards they receive, from everything like sign up perks, to accruing double the rewards.

Credit Card Hack #6: Combine Rewards

Some credit cards will allow for rewards to be transferred or moved around. By pooling together all of the rewards earned, a person can greatly increase the amount of benefits that they are receiving.

Before signing up for a credit card, it is important to understand that they can contribute to debt. It is extremely important to use credit cards responsibly. When a person decides that they can/want to handle credit cards, there are many advantageous ways to go about it.

The first thing to do is to be knowledgeable about the different kinds of benefits that exist. Once a person is knowledgeable about the perks available to them, they can pick and choose what credit cards best fit their income and lifestyle the best. Once a person figures out what credit cards rewards would be most suitable for them, there are many credit card hacks they can benefit from. These credit card hacks can be used as tools to get the most out of the credit card experience.

How to Consolidate Credit Card Debt

If you have multiple balances on different credit cards and you’re wondering how to consolidate credit card debt, look no further! To consolidate your credit card debt, there are three different paths you can choose:

  • Credit card
  • Loan
  • Debt management

Consolidate Credit Card Debt

It’s easy to sign up for reward cards with different stores because it takes a quick credit check and using them multiple times can help you build up points to use as discounts. Unfortunately, as humans do, we go a little crazy with the ability to spend more money than we actually have. Before you know it, you have hundreds of dollars spread across multiple credit cards. With your minimum monthly payment and all the different finance charges, it could take forever to pay off each individual card.

Consolidating multiple balances can provide stress relief as well as monetary relief. When consolidating your cards, you have to figure out which consolidation option is best for you:

  1. Another credit card
  2. Personal loans
  3. Debt management

Whatever you may choose, it will leave you with one payment versus a handful of others. The option that is best for you will have to be up to you, but here are some steps to figure out how and the break down of the options you have.

Check Credit Reports & Scores

Before you make any decisions, check your credit report for accuracy. You never know what kind of error there can be, and if there is one, it could prevent you from qualifying for debt consolidation help. You can check your credit report from one of the three major agencies:

  1. TransUnion
  2. Equifax
  3. Experian

You can get one free report from each agency every year. That gives you three reports throughout the year.

Knowing How to Consolidate Credit Card Debt

There are several safe and smart ways to consolidate your credit card debt. Some strategies might be greater than others, but you could be limited in options based on your credit score.

Credit Card

It may seem counter productive to open up another credit card, but it is the first option that most people turn to. If you have good credit, this might be a good option for you. You’ll have the option to look for another card that has a low interest rate. This way, you can transfer high interest balances to the single card that has a lower APR. It helps you save in finance charges.

Another perk for having good credit will be the options for cards with a low balance transfer fee and low interest credit card. There are also deals that credit card companies have like 0% APR for 12-18 months, but you will have to commit to paying off the card within the time frame you’re given.


personal loan can be another option for you if you have good credit. Personal loans offer simple interest compared to the variable interest credit cards can give you. With typical payment plans from 3-5 years, you’ll be set with a definite plan to pay it off.

The only catch is you’ll need excellent credit to get a low APR. If you don’t have good credit and are on the lower end, a personal loan might not be a great option for you.

You may still be able to get a loan regardless of your credit score if you get an auto title loan. We help those in need of financial help by using the title of their vehicle as collateral for a loan, as well as their monthly income to determine how much they may receive1. If you are considering a loan to consolidate your debt, you can learn more about our title loans on our resource blog!

Debt Management

If you think you’re making little to no progress in repaying your credit card debt, or you think you have a severe debt problem, you may benefit from talking to a credit counseling agency about debt management. You make a single payment to the credit agency who then pays each of your card lenders. Some lenders even lower your interest rates on your balances if you participate in a program. It can typically last from 3-5 years.

Do Your Math

Credit card consolidation might save you money in the long run, but it’s not free. All banks have balance transfer fees, and eventually promotions end. You have to calculate whether the costs will outweigh the benefits and take into consideration if you plan on paying off the entirety of your card before the promotion ends. Some personal loans also have origination fees, which you’ll have to calculate whether or not that would be in your budget.

If you decide to try to get an auto title loan to consolidate your credit card debt, you won’t have to worry about any fees or penalties for prepayment. We make sure your loan amount is in your budget by using the equity in your vehicle and your monthly income. On top of this, we offer many other benefits to make the lending process easier on our customers.

How Credit Card Debt Affects Your Credit

There is a lot of important information to consider if you plan on consolidating your credit card debt. If you already know that having all these separate accounts is harming your credit and you’re worried about missing a payment, consider the harmful affects that your options could cause towards your credit.

  1. Credit Cards ­– Adding another credit card onto your report has its downsides. When adding a new card, you want to make sure you don’t go over the limit of that card because it could harm your credit utilization rate (the debt you carry to the total limit). It contributes to 30% of your credit score, so keep the ratio of credit debt to limits less than 30%, and the overall utilization of each individual card less than 10%. Applying for a credit card can also leave a hard inquiry on your report, which can be damaging.
  2. Debt Management – Debt management can actually reflect poorly on your credit. Creditors generally suspend your accounts while you’re in the program which can also affect your credit utilization.
  3. Loans – Adding a personal loan can increase your overall level of debt. If you’re interested in auto title loans, you can learn more about how title loans are related to your credit and how they can affect it.


Once you’ve figured out your options for consolidating your credit card debt, you need to commit to a plan. Whether you make a deal with a credit counseling agency or you decide you’re going to pay it off within the deals term length, you have to make sure you are also not using your card again unless it’s absolutely necessary. Keep tabs on your credit score by using the three major agencies throughout the year, and you can see an increase in your credit score as you maintain your commitment.

Choose Car Title Loans for Help with Your Credit Card Debt

When emergencies rise up unexpectedly and aren’t able to meet your financial obligations, it’s difficult to find a solution that can help get you out of a bind. We work hard to help find lending options that best suits your financial needs.

Car Title Loans Online Are Simple

Rather than going through the rigorous and often embarrassing process of applying for a loan from a traditional bank or lending institution, many consumers have realized the value of choosing an Auto Title Loan. If you own your automobile and need money for an emergency, turn your investment into cash the same day.

Once your application is completed and approved, your money can be sent directly via wire transfer or check. It’s up to you to decide what option fits you. Plus, you get to keep and drive your automobile.

How Auto Title Loans Are Different Than Credit Cards

When you need access to money, you may turn to other borrowing options, such as credit cards, that don’t offer as many benefits as Auto Title Loans.

Credit cards can be difficult to obtain if you aren’t able to prove that your income meets certain criteria or if you have poor credit history. Committed to working with all applicants to find viable options for borrowing money when you need it.

Credit Cards often leave a revolving debt open that can be difficult to control. With Auto Title Loans, payments are amortized and the loan can be paid off anytime with out penalties.

Credit cards have become increasingly popular as borrowers look for ways to pay bills in a struggling economy. While it may seem like an easy fix to turn to a credit card, an Auto Title Loan may be a better option to pay back quickly and avoid exorbitant fees rather than a credit card that is always open.

Benefits of Car Title Loans

Car Title Loans are beneficial for those who need access to money but don’t have time to wait for a lengthy loan application to be processed. No limits or restrictions on the money is spent and can help borrowers receive the money they need, regardless of their credit history.

Let Us Help Consolidate Your Credit Card Debt

If you’ve been denied a loan and are in need, call us today to see how we can help. Our representatives are available seven days a week to help you with your application. Make the equity in your automobile work for you.

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