How WeMoney helped Minka turn two credit cards into one repayment

In her own words: Minka’s story on the blog

Minka's story at a glance

• Member: Minka, early forties (VIC), a homeowner who lives on her own
• Before WeMoney: two credit cards with about $6,000 owing by her count, costing roughly $500 to $600 a month in repayments
• What she consolidated: the two cards and several bills that arrived at the same time, about $10,000 in total
• How WeMoney helped: showed the proposed consolidated amount, interest and monthly repayment before she continued, then helped her restart after she had paused for two months
• Her experience: she completed the process on her phone and described returning to it as simple, with very little to repeat
• After: the lender paid the card balances directly and Minka remembers the new repayment at about $100 a month
• Next: saving, dinners with friends and occasional weekends away

Before WeMoney

Minka owned her home, earned a good wage and was not spending carelessly. Her budget had simply been stretched until two credit cards were taking the strain. She remembers owing about $6,000 across them and paying roughly $500 to $600 a month without feeling that the total was coming down.

"It was like this road that was never ending. The light was not getting near."

The pressure showed up in ordinary decisions. Dinner with friends needed careful planning, weekends away were out of reach, and an unexpected vet bill would have been difficult to cover. She wanted to be able to enjoy some of what she earned and start saving, rather than sending each month's pay out as soon as it arrived.

How she found us

Minka searched Google for a way to consolidate her debts and found WeMoney. She used the website on her phone and compared it with other options. What helped her continue was seeing the proposed consolidated amount, the interest and the monthly repayment before making a decision.

The rate she was offered was not the lowest rate she had seen advertised elsewhere. She chose the option because the process was easy to understand and the repayment suited what she needed. "Yep, sweet. That does what I need it to do."

How WeMoney helped

Minka applied through WeMoney and received an approval from the matched lender, but she did not take it up straight away. Committing to a loan over several years felt like a large decision, and she considered clearing the cards herself instead. The hesitation came from how she felt about the debt, not from difficulty with the process.

Two months later, the same repayments were still leaving her account. Minka emailed WeMoney customer service and said she wanted to continue. She went through the application again and found there was little to repeat.

"It was simple. I didn't really have to do much again."

The lender paid the credit-card balances directly. Minka did not need to receive the money and send it on herself, and she remembers watching both card balances go to zero.

After WeMoney

Minka consolidated about $10,000, covering the two credit cards and several bills that had landed at the same time. She remembers her repayments moving from about $500 to $600 a month to about $100 a month.

"I just felt like an entire mountain had been lifted from my shoulders."

The result for Minka was one repayment, one date and more room in her monthly budget. She began thinking again about saving, seeing friends and taking a weekend away. The loan still carries a term, interest and fees, and a lower periodic repayment does not automatically mean a lower total cost. Her positive result was the simpler structure and the amount of room it gave her each month.

Compare the full position

If you have several balances and the total does not seem to move, connecting your accounts in WeMoney can show the debts together. You can then review consolidation options you may be eligible for and compare the repayment, rate, term, fees and total amount repayable against your current debts before deciding.

Minka's figures and experience are individual. Outcomes vary by member and lender, and her story is not a promise that another person will receive the same rate, repayment or result.

See what one repayment could look like for you

Try the free debt consolidation calculator to compare your current repayments with one consolidated loan. To see your debts together first, download WeMoney for iOS or Android.