<prompt> Human: So my wife and I found out were pregnant and need to cut costs and decrease payments as much as possible. My payments are killing me my own fault I know. We brown bag it for work and decreased eating out only once ever two weeks. My car loan is killing me at 465 a monthI have a personal loan for 220 a month Several credit cards totaling 200 a month and all are about maxed with a total of 5100. These are my 3 biggest expenses. My credit score is 620 with perfect payment history. 0 derogatory remarks and high total accounts which is good. My credit age average is only 2 years and hard inquiries is only 4. My credit utilization is what hurts at 5937;. I want to refinance but my credit is not good enough to do that. So, I was thinking about a personal loan through OneMain even though the interest rate is high 2837;. My thinking behind this is that my interest rate is the same on my credit cards as it would be through the loan 2837;. But, if I take that debt on my credit cards and move it to a personal loan while keeping the cards open and a month or two later go to my credit union and refinance the personal loan at a much lower rate about 1137; on the safe side. So basically I would be refinancing my new personal loan that I took out for the credit cards at a much lower rate. In theory this sounds like it would work. My debt would be moved out of the credit utilization to a personal loan and my score should go way up in a few months. And with my score up and and utilization down I should be able to refinance. However, if I cant get it refinanced, is it really hurting me because of the interest rate on my credit cards and the loan would still be the same at 2837;. My monthly payment would go down regardless by 50 a month which helps some. My big question after I just explained this is, do you think this would work? I would obviously try to refinance the car as well.  <response>: You already have one personal loan, which suggests you might have already been down this path once and just charged your cards back up. You really need to figure out a way to pay off your debt instead of shuffling it around again. Sure a lower interest rate would help but it you free up your credit lines on your cards I can see you just charging them up again because we needed this or that happened.Have you tried to just get your credit limits increased? What does your credit union need from you to approve you for an 1137; personal loan credit score, ...? 