No. of Recommendations: 1
You have had a set back, but appear to have the reasons that you got into debt under control. The risk for many is that once they move the balances, the credit cards are too tempting and run up balances again. It looks like you are past that issue.

When you said sky high rates, I was expecting 20+%.

Is the debt consolidation loan a personal line of credit or another credit card?

Either way, there will be new credit which may cause a temporary drop in your credit rating. Some of which maybe offset by the overall increase in credit limit.

The balance consolidated won't be the entire amount because you would not want to consolidate the balance at 3.9%. If the new account is a revolving account and limit is exactly for the amount transferred, then you have a fully utilized account which will lower you credit score.

Are their any fees for the consolidation loan.

Whether or not it is worth it depends on how quickly you are paying off the balances. You didn't list the balance on the account with 3.9%. Assuming that 8,000 is at an average of 13%, then the different in interest would start at $40 a month. The difference isn't insignificant, and the amount of the interest decreases each month.
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