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There are a lot of benefits to this move, including the potential to give your credit score a boost.
Myth: Debt consolidation saves interest, and there’s one smaller payment.
Dealing with debt on multiple credit cards is stressful, which is why many people consider consolidating their several debts into one.), we recognize that our site does not feature every card company or card available on the market.Additionally, our star ratings are a mix of user feedback and Nerd Wallet’s independent evaluation which are independent of compensation.You can also consolidate your credit card debt by taking out a personal or consolidation loan to pay off your credit card balances.Again, be careful to check the interest rate and terms and conditions to make sure you won’t be adding to your debt, or paying it back over a much longer period of time.