pay down or consolidate???????????????////

[Anonymous]

ok..let me ask you one more thing.  would it be "better" to get a loan (assuming its at a rate lower than the cc) and pay off my cc and another loan (in good standing) or just leave as is and just pay off without getting a loan to pay off those cc and loan???  make sense?

[Lel]

From a purely financial standpoint, if you can save money on interest by getting a new loan, then that makes sense.  As you are probably aware, opening new credit will affect your credit score in a variety of ways, but if you aren't going to require additional credit in the near future (e.g. new car, new home), then this isn't as important.

[marty56]

If you have control of your spending you could save money and possibly incrase your score due to lower util by getting a 0% BT for say 12 months as long as you can PIF before the end of the 12 months and they dont close the old accounts down.  Depending on were your are FICO wise, getting a ne account could lower your score.

IMHO I would not do it unless you can PIF in 1 year or less.