Input needed; consolidation loan approved, having second thoughts

[AndySoCal]

@Dragen  Here is an option from a credit union. You can prequalify so you can see what the potential results are.

https://www.penfed.org/personal-loans/debt-consolidation 

You may or may not get a better interest rate than Discover. Do your research and make a decision.

[Dragen]

Update #2:

Well that was fast; I had planned to whittle away at the balance and then refinance but I went for it now instead. The awesome folk at Penfed approved me for the same $40k but at a MUCH lower interest rate and lower payment. I honestly thought their loan cap was like 20 or 25k so I never even bothered to check with them; wish I had now. No doubt my EXP score rebounding to 780 helped secure the loan and lower rate. 

The plan now is to pay off Discover and focus on paying off Penfed in 2-3 years....IF I can control my spending and keep card use to a minimum.

[GZG]

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@Dragen wrote:

Update #2:

IF I can control my spending and keep card use to a minimum.

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can't spend on cards that are cut up into tiny pieces and you have locked in the app

[CreditCuriosity]

Yep don't use cards if you can't trust yourself and get yourself in a worse situation than already in.  Best of luck in getting the loan paid off quickly and not accumulating new debt on credit cards.  Treat your CC's like cash and don't spend what you don't have basically treat like cash is how i play the game.  Even when I have 0% which is basically always i will never carry a balance as just a habit I am personally in so I keep myself honest.