Does consolidating your credit cards ruin your credit


07-Jul-2020 06:54

That initial hit to your score happens the day the payment is marked late.The hit becomes more intense if the payment is 30 days or more late.

does consolidating your credit cards ruin your credit-54

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An Alternative lender will work with you to help you get back on track; just make sure you choose a reputable lender.Simply put you get a new loan, which has better terms and a lower interest rate, to pay off your other debts.If you’re currently thinking about consolidating your debts this option is probably high on your list of viable choices.If you want to consolidate your debts on your own then you might want to consider a balance transfer.

This is where you transfer the balance from your high-interest credit card to a card that has a lower interest rate.We want you to remember that the main goal of debt consolidation is to pay back your debts and to take back control of your personal finances.



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