How to Consolidate Debt Without Ruining Your Credit Score
How to Consolidate Debt Without Ruining Your Credit Score Are you juggling multiple credit cards, personal loans, or buy-now-pay-later bills? You're not alone. Debt consolidation is one of the most effective ways Australians can simplify their finances and reduce interest costs—but only if done the right way. What Is Debt Consolidation? Debt consolidation involves combining multiple debts into a single new loan—usually with a lower interest rate. Instead of managing different due dates and lenders, you make just one repayment each month. How Can It Affect Your Credit Score? Your credit score may experience a short-term dip due to a credit enquiry, but over time it can actually improve if: You make consistent on-time payments You don’t accumulate new debt You close old accounts responsibly Smart Ways to Consolidate Debt Balance Transfer Credit Cards: Some banks offer 0% interest on balance transfers for up to 24 months. Just watch for fees and revert rate...
