I have almost 00.00 total in credit card debt, on three different cards.(CitiCards: 00.00, Capital One: 0.00, and Gap 0.00.) I have cut up all of my credit cards, but have yet to cancel my accounts.
I have been looking for a way to consolidate this debt into one lump sum or one big balance.(The credit limit on my CitiCard is high enough to transfer over the Capital One and Gap debts, but I am wary of the balance transfer fees.)
I am thinking of going to my local bank and taking out a personal loan to pay off the credit cards, and then just paying the bank off. Is this a good idea?
I have an average credit score and have never missed a single credit card payment. I can afford to pay twice, sometimes three times the monthly minimum payment on each credit card – which is about 0.00 a month combined.
Is there some way to consolidate all of my debt into one payment without calling a debt counselor/debt service? What type of a personal loan could/should I get if possible? HELP