Does it hurt your credit to take a consolidation loan beside a lower interest rate to pay cheque stale your debt?
Answers:
I dunno. But I only consolidated my student loans, so I hope not.
I conjecture no
If your that far over your limit that you necessitate a consolation loan, then
the impair to your evaluation is already done. Forget your mark, concentrate on paying rotten the debt.
no. In time if you salary it prompt; it could rearrange your credit rack up.
It's fine to do. One pays rotten the other and you gather money. If it's a consolidation loan to salary a bunch of credit cards, close the ones you don't obligation and don't charge them up again. Too various cards, whether you owe on them or not isn't the best piece to see on a credit report.