I am trying to pay down my biggest credit card debt. It is a little bit over 10k. The personal loan option being given to me is a 10k loan, $409 monthly payment, 3 year term on 30% APR with 27% interest. The APR on the card is 22%. Would it make sense to take this loan or should I just lock the card down and make the payments. They are usually around $310 a month but I usually have to double that to make progress because of the interest fees.
If you can pay $409 per month on the 22% credit card, you would pay it off in 33 months instead of 36 months, while making the minimum payment of $310 will pay off the card in 48 months. (If you can really afford to pay double the minimum payment, that will get the card paid off in 20 months.)
The key is to stop borrowing money. You mention "lock down the card" as if that is something you might not do. If you are going to keep using the card and spending more than you can pay, you will never get out of debt.