credit score

I don't believe it will directly affect your credit score by consolidating if your overall balance vs available credit is the same. However, it would help if you are better able to keep up with the pymts by doing this consolidation since your on time payments may improve. about 20% of your total score is made up of the % of how much of your available credit you have used. You should try to only use about 30% or less of total available credit line to keep your score higher. also, you should not close your accounts --so if you are going to close accts and transfer balances this will hurt your score. when you close accounts you are closing the history on those accounts which brings down your score :)

Makes sense. You're almost taking AWAY the 'good credit' you've built yourself. However.....if you DO do this, somelenders look at it as a 'positive' thing..I mean that you ARE trying to help yourself.