Consolidating credit card debt your own

And if a lender is offering a personal loan without checking your credit history or credit scores, that's a big red flag.If you're having trouble finding a balance-transfer credit card or a personal loan at an advantageous rate, you might want to get in touch with a nonprofit credit counseling agency that can help you set up a debt management plan.You should always calculate the amount of the balance transfer fee and make sure that your new interest rate still saves you money despite paying that fee.You may also consider taking out a personal loan from a bank, credit union or online lender, which will typically offer a fixed interest rate for a period of three to five years.Before you take the plunge into debt consolidation, here are some options to consider.

You may have to pay an origination fee for the loan, so be sure to ask about all the terms.

Consolidating your debt, no matter the method, lets you keep track of just one bill, one due date and one interest rate, rather than several.

You may also find lower and/or fixed interest rates with consolidation, which can lower your overall payments.

We believe everyone should be able to make financial decisions with confidence. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research.

To do this, many or all of the products featured here are from our partners. Credit card consolidation means you take on one kind of debt with favorable terms in order to pay off several credit card debts.

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