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mjb7bos

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What happen when you consolidate your credit cards or when you borrow money to pay off you cards?

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both are not good as long as you make the monthly payment your credit score will stay intact YES you will pay some $$$ in interest but the payments will be managable like $40/month per card or w/e you feel comfortable with paying....a bank loan could help pay them off fastr but the monthly payment would be several hundred a month because most banks don't like to do more then a 2 year loan on high $$ amounts....have you tried balance transfer Chase waives the 3% fee on transactions made in the first 60 days but even with a fee its only like $300 on $10,000 in interest upfront and then you get a new 0% rate for 12 months on average but make sure calculate it out and can get it paid off before the balance transfer APR runs out otherwisse your in deep TROUBLE because its difficult to keep balance transfering and it can wreck your score with inquires and age of accounts but 1 is perfectly acceptable if you calculate out that you can pay off the balance plus the transfer fee in 12 months....repost with specfics and I can give a more accurate answer if your interested

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I have 800.00 in credit cards

 debt. Should I take out a loan to pay off cards?

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Thanx for your help.

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