When to use a personal loan to pay off credit card debt

What: A personal loan can be a good option to pay off credit card debt if you have a fixed interest rate and a clear repayment plan.
Why: It's often better than credit card debt due to lower interest rates and more manageable monthly payments.
Signal: Look for a loan with a 6% interest rate or lower and a repayment term of 3-5 years.
Target: You should aim to pay off the loan within the agreed-upon term to avoid accumulating more debt.
Risk: Be cautious of fees associated with personal loans and ensure you understand the terms before applying.