A bank teller in Reno talked me out of a debt consolidation loan

I went in ready to sign for a $9,000 consolidation loan to fix my cards, but she pulled up my history and showed me how the transfer fees plus interest would actually cost me more over 24 months than just snowballing the smallest balance first, so has anyone else had a banker talk them out of their own plan?

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blake79211h ago

Did the banker honestly think you'd walk out of there with a loan if she showed you the math first? My own plan was basically "sign here and pray," so I get how you felt walking in. That teller saved you a couple hundred bucks just by doing simple math out loud, which is wild because most banks want you to sign the bad deal and figure it out later. Snowballing the small card first also gives you a quick win, and that win keeps you going when the bigger balances feel like they'll never move. A consolidation loan can still work for some people, but only if the rates and fees make sense after you add it all up. Sounds like you got lucky with someone who actually cared more about your wallet than her sales goal.

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