Combining your debts helps by transferring several higher-interest balances into one loan with a lower rate. Consolidating debts lets you settle your credit debts faster without increasing payment amounts.
A balance transfer involves transferring an existing credit card balance to another card. A balance transfer can be an excellent method to pay down credit card debt and save money with a lower interest rate.
Similar to the avalanche method, the “Snowball method” involves paying off the credit card with the smallest balance first. Once the first balance is paid off, you can apply that payment toward the next smallest balance and pay it off even faster.
You can speed up the process of paying off debt by freeing up some cash each month. Look at the previous 30 days' spending to see what you can do without. Use the money you save to put toward your credit card debt.