Should I use an Upstart loan to lower my credit card payments?

I am looking to lower my monthly minimum payments on my high-interest credit cards by getting a personal loan with a lower interest rate. But I do not use the cards, and I have been trying to snowball and pay them off, yet the interest is so high it eats up my monthly budget. So I'm on Credit Karma, looking at personal loans. For example, I can borrow $27K with Upstart at 8.24% interest for 60 months and pay $550 mo vs. the $1000 that I pay now. And has any of you had experience with Upstart? Or do you think this is a good idea? Also, I need to buy a new car soon and have been pre-approved at a local credit union at 6.25%, and that offered rate is good for 6 months.

Just a heads up personal loans often have fees, and their interest rates can be just as high as credit cards, or even higher. Honestly, I’d skip the loan. Instead, I’d pick up a second job and put every bit of that extra cash toward your debt. Taking on more debt to pay off debt? That’s never a good move.

Oh man, I didn't go with Upstart, but I pulled the exact same move you did. My first personal loan was from Discover, and okay, the interest rate was kinda high think 22.99% but hey, it still beat my credit card rates! Once my credit score shot up about 60 points thanks to that first loan, I snagged a Lending Club loan at a sweet 8.24% for three years and rolled everything over into that. Now I'm looking at being debt free in uner four years, which is a huge win compared to the 9 to 13 years I was staring down with just my credit card minimums.