Credit card consolidating finance

Although signs show an upturn in the economy, many Americans are deep in debt, and not everyone can work overtime or a second job to pay down that debt.

That's where debt consolidation and other financial options come in.

Consolidating multiple loans means you'll have a single payment each month for that combined debt but it may not reduce or pay your debt off sooner.

Find out more about combining your credit card debt into one low or 0% interest rate credit card Feel like you’re paying too much in credit card interest?

The best way to consolidate credit card debt — and whether consolidation will work for you at all — depends on your situation, so you might want to consult a non-profit credit counselor about your best options.

The following five tips can help you figure out which credit card consolidation strategy suits you best.

You can get your free annual credit report from each of the three major credit reporting agencies — Trans Union, Equifax and Experian.

And, Credit.com’s free credit report summary can help you understand what’s inside your credit report. There are several safe and smart ways to consolidate credit card debt, so you’ll want to research them before deciding what’s best for you.

Even with a 0% rate, paying the minimum is unlikely to make much of a dent in your credit debt.

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