Questions on consolidating credit cards. Help?
My boyfriend has about $ 5k spread out over a few credit cards (furniture, car repair, regular credit card, and best buy I think) and we were wondering if it’s easier and/or cheaper to consolidate them.
Would it make the monthly payments less (currently it’s $ 50 – $ 85 each)?
What’s the best way to go about doing this?
Also, does it just transfer the balances so it leaves his cards at a zero balance or does it close them altogether? If it’s our decision, which would be better (closing or leaving them open)?
And I will be looking more into this before we make a decision.
Any help is appreciated, thanks.