Yes. Personal loans can be a great way to pay down credit card debt. For one, a personal loan can make debt repayment easier and more convenient. Paying off credit cards directly can mean having to juggle multiple payments, which typically vary from month to month. If you're only making the minimum payments, it can take a long time before you see real progress in reducing your balances. Instead, you can consolidate your debts into one personal loan with a set regular monthly payment. This lets you budget for your payments and see consistent progress in paying down your debt. You may also save money on higher-rate debt with a personal loan. A credit card is a revolving debt, which means you can keep charging to the card account and adding to your outstanding balance. You could end up owing more and more, and there's no limit to how much total interest you could ultimately pay. A personal loan is an installment loan: you borrow the money once, and pay it off through a series of fixed payments. You'll know upfront how much total interest you'll pay and can circle the final payment date on your calendar. What's more, you may be able to get a personal loan with a lower interest rate than your credit cards.