Written by Alex Cook | Edited by Jessica Sain-Baird | Reviewed December 29, 2023
| Lender | User ratings | Minimum credit score | APR range | Repayment terms | Loan amount | |
|---|---|---|---|---|---|---|
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | 580 | 9.95% - 35.95% | 12 to 60 months | $2,000 to $35,000 | See Offers |
 | 640 | 11.72% - 24.67% | 24 to 60 months | $5,000 to $40,000 | See Offers | |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | 600 | 9.57% - 35.99% | 24 to 60 months | $1,000 to $40,000 | See Offers |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | 660 | 7.99% - 35.99% | 24 to 72 months | $2,000 to $36,500 | See Offers |
 | Not specified | 18.00% - 35.99% | 24 to 60 months | $1,500 to $20,000 | See Offers | |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | 560 | 6.99% - 35.99% | 24 to 60 months | $2,000 to $50,000 | See Offers |
 | 580 | 8.49% - 35.99% (with autopay) | 24 to 84 months | $1,000 to $50,000 | See Offers | |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | 300 | 6.40% - 35.99% | 36 and 60 months | $1,000 to $50,000 | See Offers |
| Minimum credit score | 580 |
| APR | 9.95% - 35.95% |
| Loan length | 12 to 60 months |
| Loan amount | $2,000 to $35,000 |
| Origination fee | 9.99% |
As Avant reports to all three credit bureaus — Equifax, Experian and TransUnion — taking out a debt consolidation loan through this lender could help you increase your creditworthiness. Avant also funds your loan as quickly as the next business day so you won’t be waiting around very long.
| Minimum credit score | 640 |
| APR | 11.72% - 24.67% |
| Loan length | 24 to 60 months |
| Loan amount | $5,000 to $40,000 |
| Origination fee | 1.50% - 6.25% |
Happy Money is transparent about its debt consolidation loan requirements, making the information easy to find on its website. For a Happy Money loan approval, however, you’ll need to make sure you have no delinquent payments and a credit score of at least 640. Happy Money doesn’t charge application or late fees, and its loans are specifically for those wanting to consolidate credit card debt.
| Minimum credit score | 600 |
| APR | 9.57% - 35.99% |
| Loan length | 24 to 60 months |
| Loan amount | $1,000 to $40,000 |
| Origination fee | 3.00% - 8.00% |
LendingClub does not have a specific credit score requirement for its personal loans. Not only does LendingClub pay your creditors directly, but you may also receive your funds within 48 hours. Watch out for origination fees, which are deducted from the amount of money you receive from the lender.
| Minimum credit score | 660 |
| APR | 7.99% - 35.99% |
| Loan length | 24 to 72 months |
| Loan amount | $2,000 to $36,500 |
| Origination fee | 0.00% - 10.00% |
LendingPoint gives consumers with scores of 660 and above an opportunity to qualify for a debt consolidation loan. However, keep in mind that if you have a lower credit score, you most likely won’t be eligible for LendingPoint’s lower APR rates.
| Minimum credit score | Not specified |
| APR | 18.00% - 35.99% |
| Loan length | 24 to 60 months |
| Loan amount | $1,500 to $20,000 |
| Origination fee | 1.00% - 10.00% |
OneMain Financial may be best for those seeking small loans, as its maximum loan amount is $20,000. This lender’s APR rates are also higher than many of the other lenders on this list — but they may be significantly lower than rates offered by predatory lenders.
| Minimum credit score | 560 |
| APR | 6.99% - 35.99% |
| Loan length | 24 to 60 months |
| Loan amount | $2,000 to $50,000 |
| Origination fee | 1.00% - 7.99% |
Prosper is a peer-to-peer loan marketplace that funds loans quickly (as soon as one business day, in some cases). Relative to lending platforms, it has a wide range of possible APRs — but look out for origination fees, which take a small percentage of the loan upfront.
| Minimum credit score | 580 |
| APR | 8.49% - 35.99% (with autopay) |
| Loan length | 24 to 84 months |
| Loan amount | $1,000 to $50,000 |
| Origination fee | 1.85% - 9.99% |
If your credit score isn’t quite up to par, Upgrade offers joint loan applications as well as secured loans. Consumers can apply for up to $50,000 and receive their money within one business day after being approved.
| Minimum credit score | 300 |
| APR | 6.40% - 35.99% |
| Loan length | 36 and 60 months |
| Loan amount | $1,000 to $50,000 |
| Origination fee | 0.00% - 12.00% |
Borrowers interested in Upstart can borrow up to $50,000 and receive funds through its loan marketplace within one business day after they’ve been approved. Unfortunately, if your credit doesn’t quite meet the requirements, Upstart doesn’t offer joint loans.
If you’re able to keep up with your loan payments, debt consolidation loans may actually help with your credit score. As you pay off your debt, you’ll reduce your debt-to-income ratio and demonstrate to creditors that you can make timely payments. Over time, this can boost your credit score.
Different lenders have different credit score requirements. Some will require that you have a good credit score while others will accept fair credit. The lower your credit score, the higher your APR rates may be.
If you want to apply for a debt consolidation loan but you have a lot of debt, getting approved may be difficult, but not impossible. For starters, check your credit score to see where you stand and work on cutting down on your debt. You can do this by using methods like the debt snowball method or the debt avalanche method.
