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Jlongeneck2

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If I pay off my credit cards with a personal loan how is my credit affected

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I don't see any major harm if you were to do it. I assume that you have a high utilization rate on your cards, so bringing that down should really help your scores, but you will get dinged for a hard inquiry and opening a new account, but all in all I would expect a wash, probably little change either way. If you are able to save a bunch of money by doing this, then you may want to worry more about saving money that what happens to your scores. Just don't close your cards, if you do that your scores will suffer big time. And don't charge them back up!!!! Throw them in a drawer and forget about them.

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