Pros and cons of consolidating credit card debt with personal loans?

G

GuyMan99

Member
Debt related (important) question: what would you say are the pros and cons of consolidating credit card debt, using a personal loan?
On one hand, you might pay a much lower interest rate! Which is good.
On the other hand, you can't stop using your credit cards, so you risk getting into an even deeper debt! Which is a con!
What would you do if you were in such a situation?
 
The best reason to move credit card debts to a debt consolidation loan is that it over time improves your credit score. Maxed out credit cards has a huge impact on your credit score. Y
 
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