Best method to consolidating credit cards Free midget webcam sex
Geber86/E /Getty Images When you’re consolidating card balances, it pays to move slowly and methodically.
While you’re at it, weigh the alternatives and ask a lot of questions.
Otherwise that fresh start you’re hoping for, with your credit card balances on 1 card, could just make a bad situation worse.
Here are the 5 best options for debt consolidation of credit cards, along with some advantages and drawbacks of each.
Check out our calculator to see how much debt consolidation would cost you.
Photo Alto/Frederic Cirou/Photo Alto Agency RF Collections/Getty Images Using 1 credit card as the repository for all your card debt is fighting fire with fire.
So it’s smart to be cautious if this is your plan for debt consolidation.
And a credit card is unsecured, so you’re not risking assets.Drawbacks: Before applying, ask about balance-transfer limits and fees, says Celeste Collins, executive director of On Track Financial Education & Counseling.Also: You won’t learn the APR or credit limit until after you’re approved — if you’re approved.And, whether you request a credit-line increase or apply for a brand-new credit card, the issuer will pull your credit history, which can lower your score, Mc Clary says.Last, but definitely not least: Once you’ve transferred debts to 1 card, stop yourself from running up a balance again.