Debt consolidation is a strategy to roll multiple old debts into a single new one.
Ideally, that new debt has a lower interest rate than your existing debt, making payments more manageable or the payoff period shorter.
Options to consolidate your credit card and other debts include a balance transfer credit card, an unsecured personal loan, a home equity loan or line of credit and a 401(k) loan.
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A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services, based on the cardholder's promise to the card issuer to pay them for the amounts so paid plus other agreed charges.