Has anyone ever consolidated credit cards into a personal loan?

[Yunior718]

Of course, you can talk to your bank to have a single debt.

[LittleBird614]

Hey @RaptorFun. That sounds great! Where are you getting your 0% for 24 mos? I’ve been wanting to do this but concerned about reputable places.

[Oaksmom]

Yes. My husband & I did this about 2 years ago & with the interest rates decreased we were actually able to pay off our debt a lot faster. We started with NINE accounts being added & now we are down to ONE! Just in 2 years. I would recommend a debt consolidation to anyone that needs help! We used Cambridge consolidation & have loved them!

[TexOkie]

We did this. We own a newer truck that had been paid off for awhile. We used the truck as our collateral and took out a loan against it. Now both our score went up. However, I strongly advise you to be diligent NOT to start charging on those cards again! It's tough to discipline yourself. Good luck and Merry Christmas!!!

[davettalouise]

I’d only recommend this if you are truly ready. I’ve done it twice and the first time, I wasn’t serious nor was I focused so I ended up in more debt. However, the second time around is better because I literally froze my cc’s and deleted my autofills.

Also, if you have a credit union bank account your interest rate will be a lot lower. You can also try lending club or discover loan.

[Tha_B_Man]

Another loan is not the answer unless you intend to cut up the CCs after you pay them off. Personally I would use the debt snowball to attack the cards. Make minimum payments on all cards except the one with the smallest balance. Pay as much as you can on that one until payed off. Rinse and repeat until all cards are payed off.

[Beccadenise4]

I have used a few companies for this, SoFi is a winner! They're awesome!

[hollyteniele]

I did. I went to my local credit union and took out a personal loan. The intrest was lower so I saved there and paid more every month lowering my debt. The big thing is that you have to shred your credit cards bc if you don’t you’ll end up with a loan and credit cards. Shoot for shredding the cards until the loan is paid and then have one company send you a replacement. If you max it out again then you really need to work on your spending habbits.

[vivjam]

I have done this more than once. Its great to do if you don`t use your cards again. I did because I`m a single mom. Now she is grown I don`t have to use my cards. I do just to keep them open but I pay them off as soon as possible. It help me.

[tere]

I enrolled on a debt counceling program (In Charge) I didn’t want to consolidate with a personal loan because I can’t control myself from using my credit cards so this program lowers the interest on your credit cards (sometimes to 0%) and also close your credit cards so I’m not able to use them anymore, they just charge a small monthly fee which is a lot better than paying all that interest every month, it didn’t affect my credit score so that was a good thing for me

[Nattybobattyyy]

Hi. I’m sure you’ve already gotten a loan or something. But, i highly Recommend getting a loan through lending club. I consolidated My debt through them last year and have been making one payment every month. My interest rate was super low and it’s the same amount every month for three years.
It actually brought my credit up as well.

[csenart53]

I did and it dropped our payment down under 200 a month.but our debt was under 8000.So it depends on what you have

[Antz2345]

Oh Consolidated I really don't think that I have ever Consolidated. Debt are anything in that matter. To whom it may Concern . can someone send me a text message . then we can go from their thanks.

[ChelleW]

@Raptorfun, where did you get a loan for 0% interest??! That’s incredible. I’ve seen CC’s with introductory rates like that but never on a personal loan.

[Megabite88]

@raptorfun hey 👋 this sounds amazing for something I’d like to do just don’t know where to start?! Where and how did you do this?! I have 4 cards but still paying them each month except 1 that never credited me back money from a merchant who messed up long
Story so I stopped paying them as I faxed over receipts showing merchant putting amount back on my credit card as the company though did not and I called them 1000s of times and they did nothing for me! Anyways so that one I just wanna pay off and cut up and the others I wanna pay into 1 payment.. 1 of mine is a money transfer Rewards card so I believe I can transfer all to that card and have 1 payment right?! Or did u get a loan and how if I have fair credit had 640 but because of this issue above it has gone down but is still fair..any suggestions and I’m in FL...