Senior Contributor
Posts: 3,070
Registered: ‎11-02-2009
Re: Consolidation Loan For Credit Card Balances?

You've already identified the biggest risk.  Beyond that, just look at the interest rate you can get, the amount of time you are planning to carry, figure out how much money your're going to save, and compare it to any fees associated with the loan.  I don't know what APRs you have on your cards, so can't really comment as to whether it is worth it.

Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720

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