Personal Finance Resources
How to consolidate debt without hurting your credit score
When people worry about debt consolidation hurting their credit, they’re usually thinking about how a loan application affects their credit score. What may negatively affect a credit score is a missed payment, a closed account that shortens your credit history, or new spending on the cards you just paid off.
- Personal Finance
- Aug 31, 2026
- 4 min read
Your DTI ratio changes when your debts change, when your income changes, or both. There are concrete steps you can take before you apply that can move it in the right direction. In this article, we cover what the metric is, what the generally accepted thresholds look like, and how to lower it.
If you’re carrying several high-APR balances and looking at consolidation loans, you’re already asking the right question. What you need next is a framework for evaluating what’s actually in front of you.
If you’re carrying credit card debt and looking for a lower-cost way out, two options tend to come up: a balance transfer card and a personal loan. Both can reduce what you pay in interest. In this article, we’ll look closely at how they work.
If you’re trying to pay off debt and wondering where to start, you’ve probably come across two approaches: the debt snowball and the debt avalanche. Both work the same way: minimum payments on everything, extra cash directed at one target at a time
Most people only think about their credit score when they need it—right before a loan application, a lease, or a major purchase. By then, there’s usually not much you can do. A stronger score can open up better terms, lower annual percentage rates (APRs), and more options. The habits that get you there are simpler than most people expect—and the five below are the best place to start.
Debt has a way of feeling permanent. The balances don't move much. The due dates keep coming. And the more you carry, the more it costs you just to stay in place. This guide lays out the concrete steps to get out of debt: what to assess first, how to choose a payoff method, and when consolidating with a personal loan actually helps.
A credit card consolidation loan replaces multiple high-interest card balances with a single fixed-rate personal loan – one monthly payment, one interest rate, and a defined payoff date. For borrowers carrying balances at 21.39% APR or higher, the interest savings are often substantial1. The math works for the same term when your consolidation loan APR is lower than your current weighted average card APR and the fixed monthly payment fits your budget.
Budgeting is a lifelong money management skill that can help you control your spending, save for the unexpected, and build a strong financial foundation.
Your credit utilization rate measures the balances of your revolving accounts against your credit limits. Naturally, your ratio can influence your credit scores. A low utilization rate could improve your credit scores while a high utilization rate may hurt them.
Allowances are common in the U.S., but it’s important to weigh out the pros and cons before giving your kids an allowance.
A growing number of school districts are adding financial literacy to the high school curriculum with the goal of increasing teen’s financial skills. Do you remember learning about money?
Self-care doesn't have to be expensive. Here are some creative, low-cost strategies to boost your mental well-being.
Keep more of what you earn and earn more on what you save.
Checking your rate won’t impact your credit score.2
