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  Why Consolidate Your Credit Cards

Many people get carried away with credit card spending, and this can quickly result in spiralling debts. Consolidation is an excellent way to cut down on these debts, and could save you the trouble and stress associated with falling behind on repayments and ruining your credit rating. It’s all too easy to whip out your credit card and pay for anything from a holiday to lunch, but these purchases soon add up, and many people soon find that they are only able to afford the minimum repayment each month.
Although making the minimum repayment will keep your head above water to some degree, it means that you will barely be touching the actual balance on your credit card – the vast majority of each repayment will go toward funding the extortionate interest usually charged on these cards. So, you could find yourself making minimum repayments for a matter of years, and at the end of that time your balance could be close to what it was when you started making repayments.
A far more sensible solution is to consolidate all of your credit cards with one, low rate loan. This will enable you to enjoy a far better interest rate, which means that you pay less for your borrowing. You can also benefit from easier budgeting, as you will only need to make one repayment because all of your credit card debts will have been rolled into one.
By consolidating your credit cards you can also avoid other charges commonly associated with credit card debt, such as annual fees and late charges, which can soon add up. Anyone that wants to reduce their outgoings, enjoy a far better rate of interest, manage their accounts more easily, and avoid unnecessary charges, can really benefit from a credit card debt consolidation loan.