
Credit card (CC) debt consolidation is a plan that takes more than one CC balance and combines them into one payment plan. Consolidating debts is ideal if new debts have a lower APR or Annual Percentage Rate compared to the user’s credit cards. It can minimize interest rates (IR), make the payment more manageable, or shorten payoff periods. The best way to consolidate these debts will depend on their score, how much debt they have, and other important factors. Listed below are the most effective ways to pay these debts:
- Refinance with balance transfer CCs
- Consolidate using personal loans
- Tap