Video real lifecam - Does consolidating your credit cards hurt your credit

Even if your credit takes a small hit in the short term, is debt consolidation still worth it?

does consolidating your credit cards hurt your credit-5

You can apply for many of these debt consolidation options online, or even check with your local bank or credit union.

Shop around before finalizing which consolidation loan you want to use, as the goal is to find a loan that offers a lower interest rate than you’re currently paying.

This is why it’s important to review various consolidation loans and financial companies before making your final decision.

Applying for too many loans at once can cause your credit score to take a big hit.

As your debt continues to pile up, it’s easy to feel as though your options are limited.