Consolidating all debt
The best way to consolidate credit card debt under ,000 could be to get a zero-percent interest credit card and transfer balances from high-interest credit cards over to it.
You also could look at a personal loan to pay off your balances.
Debt consolidation offers debt relief by consolidating your monthly debt payments into one affordable payment.
Before you choose a card, calculate whether the interest you save over time will wipe out the cost of the fee.
Debt consolidation is a strategy to roll multiple old debts into a single new one.
Ideally, that new debt has a lower interest rate than your existing debt, making payments more manageable or the payoff period shorter.
It’s typically considered for people who have high consumer debt.
But most of the time, after someone consolidates their debt, the debt grows back. They still don’t have a game plan to pay cash and spend less.