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Question By
Deeokay

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Does consolidating credit card debt cause drop in credit score?

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It depends on what you mean by consolidate.  On a personal loan or a credit card.  If a personal loan then yes it would bring down your utilization  which would bring up your score.  If a credit card.... lots of factors go into that so just say yes if credit card then I will respond again.

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I consolidated three credit cards a few years ago by applying for another credit card that had a higher credit limit than all three older cards combined, and offered a lower interest rate plus 0% interest for 12 months.  My credit score increased because of that.  

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