Nerd Wallet comments on a credit card consolidation trick that many borrowers could find useful:

Whether a credit card is the best way to consolidate debt depends on how much debt you have, your credit score and even your personality.

If you can pay off your debt relatively quickly, and your credit is good enough, then a balance transfer credit card may be your best choice. If you might need help staying on track or if you’ll require more time, then a personal loan with fixed payments may be a better approach.

With a balance-transfer credit card, you move high-interest debt to a card with a 0% introductory interest rate. Once that 0% period ends, interest rates can be quite high, so it’s best to use the card only if you can pay off the balance within the introductory time.

With a personal loan, you borrow a sum of money to pay off debts. The interest rate you qualify for is determined by your credit score, credit history and the ratio of your debts to your income. Ideally, the rate should be lower than the one for your existing debt…

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