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Just wanted to post a yay and a question!

+5 votes
by (580 points)
Just wanted to post a yay and a question! Yay- About $17, 300 in debt. Got a credit I wasn’t sure was coming and threw it all into my debt. It wasn’t much but made a dent. Question- the debt is spread across 2 credit cards and a line of credit. Would you extend the line of credit (10. 99%) and transfer both card balances to it (one is 25% and the other is 20%) or consolidate all 3 on new loan?  
Just wanted to post a yay and a question!

4 Answers

+4 votes
by (250 points)
I would
+4 votes
by (4.1k points)
I would as well
+1 vote
by (1.6k points)
I would only get a new loan if the interest rate was less than 10. 99%. If the interest rate is higher than 10. 99% then I would move it all over the the existing line of credit.  
+3 votes
by (3.2k points)
If you have the space I would move it over. Then try to pay it off as fast as possible.  
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