5 best tips for credit card consolidation.
Are your high-interest credit cards putting you in a deeper financial mess?
Some credit cards can carry an interest well above 20% and easily make you drown in interest fees. Not to mention, they can make your monthly payments outrageously high and unmanageable.
While you can’t wipe out debt with a magical wand, there are things you can do to make your payments more manageable.
That is credit card consolidation.
It’s a debt payoff strategy that takes your multiple credit balances and rolls into a new one.
The idea is to lower or eliminate your interest rate on the new debt. This helps you pay off your debt easier and faster by keeping your payment more manageable.
There are several ways to consolidate your debt balances. But no one solution works for all.
If you are thinking of consolidating your credit cards for debt relief, here are 5 tips to do it right.