I have a friend that has five credit cards of debt. A couple of the cards have high interest rates (20-25%). The rest are 15% and below. The total debt combined of all five cards is ~$10k.
How does one go about consolidating their credit card debt to bring down those high interests rates? I've personally never had to do this because I'm pretty good with my money. How else can these interest rates be lowered? This friend has usually made payments on time, but there have been a few late payments here and there.
I already helped my friend make a budget and told them to pay min on all cards and put the rest on the highest interest one. Is there anything else I can suggest?