Credit card consolidation is a way to combine some or all of your debt into one payment. According to the Consumer Finance Protection Bureau (CFPB):

"Consolidation means that your various debts, whether they are credit card bills or loan payments, are rolled into one monthly payment. If you have multiple credit card accounts or loans, consolidation may be a way to simplify or lower payments.

Options for credit card consolidation include 0% intro APR balance transfer credit cards, personal loans, HELOCs, and debt relief. Credit card consolidation allows you to pay off multiple debts into one affordable payment at lower rates and fees.

You are probably wondering: Should I consolidate my credit card debt?

The short answer: There is no one size fits all when it comes to credit card consolidation. You must match your financial situation with the appropriate debt solution. For example, if you have a good income, but poor financial management, then a snowball debt plan or a personal loan can put you on the right path. However, if you are struggling with minimum payments or in financial hardship, then look for other debt solutions.