Debt consolidation loans?

[FBaggins]

6. Is the problem mathematical or psychological?

That is… if the debt was caused by temporary circumstances that are now past… then they make mathematical sense. Likely lower interest can save a significant amount (accelerating getting out of debt) - and the single monthly payment is convenient.

But here’s the thing. Consolidation loans normally go to people who have several loaded-up credit cards not from an unexpected need but rather from prolonged excess spending. In too many cases, the lower payment and non-revolving debt means that they can now qualify to borrow more from someone else (even the same credit cards if closing them was not a requirement of the consolidation loan). If the spending habits haven’t changed, the debt problem will just get worse.

And I agree with werdna above. USAA is a class act and won’t be taking advantage of you.