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tagged: consolidating your card debts, consolidation, credit card debt consolidation, interest rates, transfer your credit card balancesCredit Card Debt Consolidation
Posted by GuestPoster in Personal Finances
If you have more than one credit card, it’s possible that you can combine all of the card balances into one debt, and possibly save money as well as time. This is called consolidation.
With consolidation, the method is to search for a credit card deal with better interest rates than you are currently on, and transfer your credit card balances to the one with the lowest interest rates.
Consolidating your card debts is advisable only if the new deal is better than the one which you already have. Otherwise you could end up paying more money in interest or harming your credit score. Check the small print to see how long any deals last, and keep up the payments or you may lose the deal.
See Consolidate Credit Card Debts Guide for more information.
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