Consolidating credit card debt information online

A credit card consolidation loan combines your outstanding balances on your credit cards into one monthly payment.

The benefit is that you’ll pay off your existing debts with those credit card companies and have a simplified payment process with just one lender.

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Before you start the process of consolidation, make sure it really makes sense.You could possibly save on interest payments too, since credit cards tend to come with higher interest rates than personal loans do.Credit card consolidation could improve or hurt your credit depending on how you use it.This will allow you to make one payment and sometimes will result in lower payments.Many zero-percent or low-interest credit card offers only last for a limited amount of time.If you are thinking about debt consolidation, you might want to first consult a non-profit credit counselor.

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