‘Credit card debt consolidation’ seems to be a buzz word in the world of credit cards. It’s true that credit cards have been very useful and convenient for us and we, in fact, treat the credit cards as a necessity. Nevertheless , with every good you have evil too. In the world of credit cards, ‘Credit card debt’ is that evil and ‘Credit card debt consolidation’ is often considered to be a medicine for treating credit card debt.

Any person who has read any newspaper articles on ‘Credit card debt’ would already know what credit card debt consolidation is. Nevertheless , just for the benefit of others, credit card debt consolidation, in plain words , is the process of consolidating debt which you have on various high APR credit cards onto just one low APR credit card. Consequently, the most important advantage of credit card debt consolidation is APR reduction (and therefore reduction in credit card debt increase rate). This is advertised as the main benefit (and sometimes the sole advantage ) from credit card debt consolidation. Nevertheless , credit card debt consolidation comes with few more advantages as well. Some of these credit card debt consolidation benefits are widely publicized by the credit card providers and others not so much:

1. Initial APR: As mentioned above, lower APR is the main benefit from credit card debt consolidation. As credit card debt consolidation is used by credit card suppliers as a tool to attract customers , they usually offer a 0% APR for an initial period of 6-9 months of you joining their credit card debt consolidation program i.e. first several months after you obtain the new credit card.

2. Standard APR: Lower standard APR (i.e. the long term APR) is the other significant advantage from credit card debt consolidation. While not all credit card providers offer a lower standard APR with credit card debt consolidation some do design credit card debt consolidation programs with good standard APR. Such credit card debt consolidation programs offer an exchange between initial and standard APR rates.

3. 0% on purchases: This is another usual benefit from credit card debt consolidation. The 0% interest (or some lower percentage) on purchases is offered as an incentive for credit card debt consolidation. Such a credit card debt consolidation advantage can be applied only for a short initial period.

4. Easy management: This credit card debt consolidation benefit is much less popular than others. Nevertheless , one benefit of credit card debt consolidation (from multiple to single credit card) is the fact that you need to track and manage a lesser number of credit cards.

5. Other benefits: The usage of credit card debt consolidation might bring you some more benefits in terms of rebates, discounts and reward points ( particularly if get a co-branded card as part of credit card debt consolidation)

Learn more about Get Out of Debt topic on this Debt Consolidation.

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