Debt consolidation 2025: Is it good?

Debt consolidation seems like a potential solution to my financial situation. My credit card interest is a steep 20%, while the loan offer I’ve been pre-approved for has a much lower interest rate of 9%, which could help me consolidate my debt into one manageable payment. Right now, my financial snapshot looks like this: I have $645 in my bank account, $14,825 on my credit card (exceeding the $14,000 limit with interest adding over $200 monthly), a personal loan balance of $7,861, and a line of credit at $7,464. The pre-approved loan offer is for $26,500 and is valid until March 19, 2024. I work full-time from September to mid-June, but even with my recent paycheck, the interest on my credit card erased any progress I made. I feel like I’m stuck in a cycle where no matter what I pay, the balance just keeps climbing. I'm unsure how to move forward and could really use some advice.