debt consolidation affect on credit?

Yes your score is affected. You will have a mark on your score for the duration of the loan.

This program will be on your file. It will show that you are making the payments to the creditors at reduced interest rates. There will be a slight affect of it as long as you are in the program. It's much better if you are already defaulted on your payments or cannot afford with the high interest rates. Your scores will go up after everything is paid off.