Debt Consolidation

Consolidation replaces debt, it does not reduce it. The arithmetic that tells you whether yours saves money, and the rate at which it saves nothing.

Sometimes yes, sometimes it costs more than doing nothing. Four situations with the real numbers, and three signs it would be a mistake for you.

A few points down from the inquiry and the new account, then usually a rise as utilization falls. The one move that turns the gain into a loss.

You will get offers. Most of them will not save you money — here is the exact break-even test, and the three options that do not need credit approval.

The transfer wins if you can clear the balance before the promo ends. Here is the monthly payment that requires — run it before you apply, not after.