debt consolidation

I want so desperately to get out of debt once and for all. I have 2 credit cards that I used for medical reasons. I have been paying them monthly on a timely basis but don't seem to be making a dent in the overall amount owed.

My credit has suffered as a result of carrying the high balance. ( I do NOT use the cards for purchases). But I get charged around $100 per month for each card in interest alone. Last month I paid $350 on one card only to see that of that amount $250 was applied to the actual balance

I feel like me effort is futile and I need help. I have considered trying to find a "0" interest card and transfer the balance. Do you think that's wise?
Has anyone done this & been successful in paying OFF the complete balance? What are the hidden dangers and costs?
In one regard I feel like I have nothing to lose because my interest rate is so high now anyway. And FYI- I 'be tried many times to see if the current credit card companies would consider lowering the interest& of course they won't.
Any advice is VERY much appreciated.

Re: debt consolidation

I recommend transferring your debt to the Chase Slate credit card (if you can get approved for it). There is no fee on the balance transfer and 0% interest on purchases and balance transfers for the first 15 months.

https://creditcards.chase.com/credit-cards/slate.aspx?iCELL=63KH&unitedclubsplit=2&unitedmileageplussplit=1

Re: debt consolidation

You can also call each card and see if your eligible for a lower rate. Threaten to cancel if there is nothing they will so for you. Also tell them you will go to a new card. I wouldn't suggest going to one of the consolidation companies. They will donate same things that I mentioned. Good luck!!!

debt consolidation

If you have a credit score over 700 you will probably qualify for a 0% interest card. Some cards do not have a transfer fee but most are about 3%. It's definily worth it if the balance transfer fee is less than the interest you are paying for the term of the 0%. The only thing is the new card may not give you a high enough balance to do the transfer. If you can qualify for one I would say definitely do it.