My spouse and I have about 40K in credit card debt, in addition to a mortgage payment and student loans. We have been working hard to pay off this debt and have been moving in the right direction. We got approved for a 30K personal loan at a lower interest rate (8%) than our credit cards. I'm wondering if there's any good reason not to do this.

* We plan on using 100% of the loan to pay off higher-interest credit cards
* The minimum monthly payment on the loan is lower than the combined minimum payments of our cards.
* We have budgeted to pay more than the minimum each month
* The lower interest rate is locked in, providing we don't miss two consecutive payments (we are diligent in paying bills and not too worried about this)
* We both have stable employment, and *if* things go well we expect an increase in income (although obviously not counting on this)
* We have very little emergency savings
* We do have some family safety nets in a worst-case scenario
* Our credit is fairly good
* **We no longer use any credit cards except one store card that is paid in full each month. We have fixed our spending habits and our debt is moving in the right direction.**

Anything I'm missing or should look out for?