Credit card might still be an good option for you, even if you do have bad credit. However, many banks and credit unions won’t approve a borrower with a credit score below 660, but there are online lenders that offer personal loans to consumers with credit scores lower than 600. Some of these online lenders specialize in bad credit loans to help consumers consolidate debt. If you consolidate credit card debt with a personal loan, you can see an increase in your credit score. What happens here is that your previously revolving credit card debt is now categorized as an installment debt. You’ll just need to have a reasonable debt-to-income ratio to reassure the lender you have the ability to repay the loan. We suggest not to worry too much about qualifying, and you may even want to consider having a spouse or family member co-sign on the loan. You may read more about bad credit here.