Consolidate Credit-Card Debt.

Kiplinger's Money Smart Kids Web Column, May, 2004

Byline:Janet Bodnar, Kiplinger Washington Editors I truly enjoy your advice for those of us in our 20s. My credit-card debt is around $3,000, divided among three separate cards, and I am wondering if you'd recommend consolidating this amount. Does consolidation hurt my credit score? Thanks for your help.

Thanks in return for your kind comments. Judging by the growing volume of e-mail I'm getting from readers like you, there's a big demand for information from young people who want to start out on the right foot financially, especially when it comes to credit. To answer your question, consolidating three credit-card balances into one could hurt your credit score temporarily, but it might make sense to do it anyway. As far as your credit...