Eliminating credit card debt is not always easy. But consolidating credit card balances on a new card with a low promotional rate could save you money.

Here are some tips for consolidating credit card debt that will potentially boost your score.

  1. Calculate the monthly payment you’ll need to make to pay off the balance before the introductory rate ends.
  2. Don’t cancel your old cards. In addition to eliminating your credit history, closing accounts reduces your available credit. Both can have a negative impact on your credit score.
  3. Avoid charging purchases to your old cards unless you can pay off the balance each month. People often fail at debt consolidation because they run up new debt.

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