In case you are unsure, what I mean by credit card debt consolidation is combining your current card balances into one account, which is usually a brand new card, although you could consolidate onto a card you already have.

The biggest benefit from consolidation usually results from the lower interest that you will pay. This can save you a lot of money, especially if you have a big balance and will need to pay it off over a few years. There are some other benefits to consolidation too.

Initial APR: As mentioned above, lower APR is the biggest benefit from credit card debt consolidation. Since consolidation is used by credit card suppliers as a tool to attract consumers, they generally offer a 0% APR for a initial period of 6-9 months of you signing up with their credit card.

Standard APR: Lower standard APR (i.e. the long term APR) is the other important benefit from credit card debt consolidation. Though not all credit card suppliers offer a lower standard APR, some do have a good standard APR. These credit cards offer a trade-off between initial and standard APR rates.

0% on Purchases: Try not to get excited about this. Your goal is to get your debt paid off remember? So you should not be looking to go on a shopping spree. But if you did have an emergency purchase that you absolutely needed, this might be a way to get it.

Easy Management: Having one bill and one balance will help you keep track of your debt payoff progress.

Other benefits: Credit card debt consolidation might bring you some more benefits in terms of rebates, discounts and reward points, especially if you move to a co-branded card as part of credit card debt consolidation.

So once you get your old balances paid off, hopefully you have cut up those cards, because once these balances are zero, that is when the real test begins. Are you going to dig yourself a mucher deeper debt hole by using these cards again or are you finally committed to ridding yourself of credit card debt for good. If you are going to get rid of it, then a credit card debt consolidation can be a big help in achieving your goal.