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Level 2

Has anyone ever consolidated credit cards into a personal loan?

Hi, we just consolidated 20k of high interest credit card debt into a personal loan from Marcus Goldman Sachs. My credit score jumped 35 points and I now have one bill/month instead of 8. I'm so glad we did this you should think about it.
Level 2

Has anyone ever consolidated credit cards into a personal loan?

My Bank had an interest rate of 10% I looked around and got a much lower rate from another company that wasnt related to theBank. I thought the bank did not have a vested interest in me being able to pay doen the credit card. Bottom line here are that entities other than your Bank might be the better way to go.

Level 2

Has anyone ever consolidated credit cards into a personal loan?

I did almost the same thing as darlingnikki121.  Sofi loan works great.  Interest rate is good.  Your credit score will improve immediately because the installment loan shows better than revolving credit.  And you can set automatic payments to one place and never have to think about it.  

Just be careful with credit card spending.  Once you transfer their debt to the loan, you'll have a lot of available credit.  If you're tight month-to-month, it can be tempting to make credit card purchases.  Cut up your cards and delete your saved info online.  (Don't cancel the cards, because the available credit also improves your credit score).  But make sure not to use those cards again.  It can be very easy to get yourself in a much bigger hole.

Level 6

Has anyone ever consolidated credit cards into a personal loan?

Yes. But make sure you STOP using your credit cards or your situation may get worse than what they are now.
Level 8

Has anyone ever consolidated credit cards into a personal loan?

I tried but Sofi said nope. My CC interest is between 15-18
Level 6

Has anyone ever consolidated credit cards into a personal loan?

Where were you able to get a loan at0% for 24 months?
Level 2

Has anyone ever consolidated credit cards into a personal loan?

Where did you get a loan with 0% interest for two years? I would love to consolidate my debt but don't understand how people get a loan if already in debt. 

Level 3

Has anyone ever consolidated credit cards into a personal loan?

Yes it is ok if you can get a better interest rate but it will be a hard inquiry on your credit report and cause your score to drop.

But it will also raise your score later as you pay it off .

Level 3

Has anyone ever consolidated credit cards into a personal loan?

Never take loan out on your home and closing credit cards can lower your score .

 

Level 3

Has anyone ever consolidated credit cards into a personal loan?

You cant get %0 financing on a personal loan .