If you're looking for credit card consolidation services, you probably have a significant balance on more than one credit card, and that debt is being charged at well above-average interest rate. If that's the case and you're not in a financial situation to simply pay off all your balances, credit card debt consolidation is a good idea, paying less interest means saving money.
The potential pitfall of credit card consolidation is that some people use the consolidation loan to pay off their credit cards, then simply start charging again. In doing so, they make their debt burden much worse by taking on more debt than they originally had.
If you're getting a consolidation loan for your credit card debt, remember to watch your spending on your plastic after the fact. Keep your balance cleared by paying off any charges each month, and when possible avoid using your cards at all.
If you're considering a 'balance transfer' to move your credit card debts over to a different card at a better interest rate, be sure to check the terms of the offer - many balance transfers only offer low rates for a specified amount of time. If it's not already a requirement of the new card issuer, you should also consider cancelling the old cards once their balances have been wiped rather than taking on twice your previous credit.
