If you clear your credit cards but don't stop spending, you could end up with a loan and new credit card balances.

Watch out for "origination fees" on loans or "balance transfer fees" (usually 3-5%) on cards.

You apply for a personal loan or a balance transfer credit card with a lower interest rate than what you’re currently paying.

At its core, debt consolidation is the process of taking out a to pay off several smaller debts (like credit cards, medical bills, or personal loans). Instead of multiple due dates and varying interest rates, you’re left with one monthly payment and one fixed interest rate. How It Works

Reducing your "credit utilization" on cards can improve your score over time. The Bad:

These offer fixed interest rates and predictable monthly payments. They are ideal for consolidating credit card debt.