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From: mrboxingfan (Rep: 0) reply to TomasWinsorDate: 02/12/2019 10:22
Forum: Casual Lounge - Msg #802Thread #674057901 (Rec: 0)
Re: will debt consolidation effect my credit score?

NOTE: This message was originally posted on 2019-02-12 05:40:39 by the mrboxingfan.

Reply to TomasWinsor - Msg #799 - 01/16/2019 00:56


I was just wondering if I could get some advice here

I have 4 credit cards with a total of around 10k on them.
The rates are 19.9% on 3 of them and 20.9% on the last one.
I decided to clear my balance as fast as I can, and I am considering for debt consolidation service . I found one, they offered me 10k for 5 years, with a nice lower rate and one decent monthly payment.
My question is:
Is it worth to go through with it, or is it better to keep paying the credit cards?
Will it hurt my credit score if I switch?

Also, if I go through with it, should I keep my credit cards open, or just close them?

I am not behind with any payments, just wanted to know which is better option.

Any advice would be much appreciated,

Thank you

NOTE: This message was originally posted on 2019-01-16 00:35:56 by the TomasWinsor.

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