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If i get a credit card consolidation loan can the loan lender cancel my credit card?



If i get a credit card consolidation loan can the loan lender cancel my credit card?

The company will close it for you. You can't get a loan for consolidation and still have your card active, they don't want you to run up more credit
Can the lender of the consolidation loan cancel your credit card? I doubt it, but I suppose its possible that they say you have to cancel your card before you can be approved.

Why are you getting a consolidation loan? B/c you charged too much on your credit cards to begin with so it would make sense to cancel your cards anyway dont you think?
Well I think so, they might cancel your credit card because they think you cant manage your finances it is better to get a easy loan and pay the credit card or talk to them and try to reduce your minimum payment till your position improves.
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