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Is it smart to take out a personal loan to consolidate credit card debt?
I am looking for the best way to eliminate my credit card debt. I have two major cards that I am dedicated to paying off. I am not sure which option would be the most beneficial and cost effective as well increase my credit score.

Option one: Continue to make payments above the minimum on cards with a higher variable apr and use the method of paying off one card at a time.

Option two: Take out a 48mth personal loan creating a more affordable payment option leaving more money in my pocket for spending/saving and give the flexibility of making extra payments on months that it is possible.
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any time you take out credit--loan or what ever credit --your score will take a hit because of the inquiry and the added debt--it will rebound back---and paying off your credit cards is good--but the debt will still be there just now its in the from of a personal loan--now here's the hard part about doing that--if you start using the credit cards again--then you've just put your self in a deeper hole--if you do use the cards it has to be very little and small amounts that you can pay off when due--it will take a lot of self control on your part--something about a zero balance on a credit card and then seeing something you want ( not need )--its real easy to just pull the card out--if you've never had a personal loan--then that will help your credit mix--credit is based on many things--but when it comes down to it--they look at 3 types of credit and how you handle it--1st is short term loans--like a credit card--1-12 months payback--2nd is mid range loans--personal loans, cars, payback 2-6 year payback--3rd is long term loans like a mortgage 15--30 year payback---so how you handle each one is important--you want on time payments every time and not to over load your self--so look at your long range goals and you'll decide what best for you

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