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The short answer to that question is: Just like any other line of credit affects your credit score.
The long answer is: It’s complicated, and important to do correctly.
There are a lot of benefits to this move, including the potential to give your credit score a boost.
If you’re not sure how consolidating your credit card debt will affect your score, take a look at the details below – the Nerds will tell you everything you need to know!
We even share how we make money so you can rely on our expert advice and recommendations with clarity and confidence.
Dealing with debt on multiple credit cards is stressful, which is why many people consider consolidating their several debts into one.
With inexperience and prevailing financial illiteracy, mistakes often occur and naïve mismanagement can leave young adults wondering how to recover.It is essential to consider the possible effects of both options before making grandiose generalizations about payments and refinancing.