You have two main options if you need to consolidate your credit card bills:
1.Get a consolidation loan to pay off the credit cards, or
2.Transfer your balances to a single card.
Consolidation Loan – You can get a consolidation loan from your bank or an online company. Your object is to obtain the loan at a much lower interest rate than your credit cards are charging. If your bank won’t give you a personal loan, maybe they will give you a low-interest Home Equity Line of Credit. Be aware that you are just substituting one kind of loan for another. Your credit card balances will disappear, but you will now have a different bill each month, hopefully at a lower interest rate. After you use a loan to pay off your balances, cancel and cut up all your cards except one. Call the companies to actually cancel the cards.
Balance Transfer – Which of your credit cards charges the lowest interest rate? Call that company and transfer your outstanding balances from your other cards. Then stop using the other cards, cancel them, and cut them up. Another option, if you qualify, is to take out a new credit card with a low interest rate (or even 0%) and transfer in your other balances to this card. Pay off as much as you can while the low rate is in effect. These low introductory (teaser) rates may last for only six months at which time a higher rate goes into effect. Some people keep taking out new cards with low introductory rates every six months. This can work for you if you actually pay off your balance instead of running up more debt.
Which ever method of consolidation you select, make your minimum payment monthly plus some extra to get out of debt quicker. It doesn’t make sense to consolidate your credit card balances, and then keep using the cards to pile up more debt.