Checking rates won't affect your credit score
| Lender | User ratings | Best for… | APR range | Loan terms | Loan amounts | Credit score required | |
|---|---|---|---|---|---|---|---|
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Repayment assistance options | 7.99% to 24.99% | 36 to 84 months | $2,500 - $40,000 | 720 | View Personalized Offers |
 | Personalized service | 11.72% to 24.67% | 24 to 60 months | $5,000 - $40,000 | 640 | View Personalized Offers | |
 | User ratings coming soon | Midsize credit card consolidation loan | 9.49% to 24.25% (with autopay) | 36 to 60 months | $5,000 - $45,000 | Not specified | View Personalized Offers |
 | Long-term credit card consolidation loans | 9.49% to 25.49% (with autopay) | 24 to 84 months | $5,000 - $100,000 | Not specified | View Personalized Offers | |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Peer-to-peer lending | 6.99% to 35.99% | 24 to 60 months | $2,000 - $50,000 | 560 | View Personalized Offers |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Credit card consolidation loans with no fees | 8.99% to 25.81% (with discounts) | 24 to 84 months | $5,000 - $100,000 | 680 | View Personalized Offers |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Bad-credit borrowers | 6.40% to 35.99% | 36 and 60 months | $1,000 - $50,000 | 300 | View Personalized Offers |
| APR range | 7.99% to 24.99% |
| Loan amounts | $2,500 - $40,000 |
| Loan terms | 36 to 84 months |
| Origination fee | No origination fee |
| Minimum credit score | 720 |
| Pros | Cons |
|---|---|
Multiple assistance options if you can’t make your payment Competitive APRs Low annual income requirement | Low maximum loan amount Not available to bad-credit borrowers $39 late payment fee |
| APR range | 11.72% to 24.67% |
| Loan amounts | $5,000 - $40,000 |
| Loan terms | 24 to 60 months |
| Origination fee | 1.50% - 6.25% |
| Minimum credit score | 640 |
| Pros | Cons |
|---|---|
Specializes in credit card consolidation Live chat Customer-friendly desktop interface | Possible origination fee High minimum loan amount High minimum APR |
| APR range | 9.49% to 24.25% (with autopay) |
| Loan amounts | $5,000 - $45,000 |
| Loan terms | 36 to 60 months |
| Origination fee | No origination fee |
| Minimum credit score | Not specified |
| Pros | Cons |
|---|---|
Low maximum APR No origination fee Can include a cosigner | Fewer loan terms available Doesn’t disclose minimum credit score Customer service unavailable on weekends |
| APR range | 9.49% to 25.49% (with autopay) |
| Loan amounts | $5,000 - $100,000 |
| Loan terms | 24 to 84 months |
| Origination fee | No origination fee |
| Minimum credit score | Not specified |
| Pros | Cons |
|---|---|
Wide range of loan terms available Offers large loans Low maximum APR | Minimum credit score not specified No prequalification Mobile app is poorly rated |
| APR range | 6.99% to 35.99% |
| Loan amounts | $2,000 - $50,000 |
| Loan terms | 24 to 60 months |
| Origination fee | 1.00% - 7.99% |
| Minimum credit score | 560 |
| Pros | Cons |
|---|---|
Smaller loan size Lower minimum APR Joint loans available | Charges an origination fee Terms are not as flexible Long timeline for loan approval decision |
| APR range | 8.99% to 25.81% (with autopay and direct deposit discounts) |
| Loan amounts | $5,000 - $100,000 |
| Loan terms | 24 to 84 months |
| Origination fee | 0.00% to 6.00% (not required) |
| Minimum credit score | 680 |
| Pros | Cons |
|---|---|
No extra fees Flexible loan terms Large loans available | Need at least good credit to qualify Higher minimum APR Can be hard to qualify |
| APR range | 6.40% to 35.99% |
| Loan amounts | $1,000 - $50,000 |
| Loan terms | 36 and 60 months |
| Origination fee | 0.00% - 12.00% |
| Minimum credit score | 300 |
| Pros | Cons |
|---|---|
Can qualify with no credit or bad credit Competitive APRs for those with excellent credit Low minimum loan amount | Fewer options for repayment terms Potential for high origination fee Maximum APR is high |
Credit card consolidation is the process of taking out a personal loan to pay off existing credit card debt. Depending on your credit score, income and level of existing debt, your credit card consolidation loan may come with a lower rate than what you’re currently paying on your credit cards.
Once you’ve gotten a credit card consolidation loan, you could either pay off your credit cards yourself, or have your new creditor pay them directly. Although you won’t be eliminating your debt, consolidation will help you avoid juggling multiple credit card payments. Instead, you’ll be responsible for one single personal loan payment.
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The process for getting a credit card consolidation loan is similar to getting any other personal loan:
Before consolidating your credit card debt, you’ll need to know what credit card APRs you’re paying. This will help you determine whether the personal loan offers you receive are competitive for your personal situation.
To figure out what loan amount you should apply for, you’ll also need to add up all of your current card balances. Make sure that the math makes sense before committing — once your credit cards are consolidated, the process can’t be reversed.
Don’t necessarily choose a loan from the first lender you find. When making a big financial decision like taking out a consolidation loan, you’ll want to see what’s out there first. For instance, some lenders specialize in bad-credit loans, while others cater to those with excellent credit. Researching lenders can help ensure that you get the consolidation loan with the best terms, based on your financial situation.
Prequalification doesn’t hurt your credit score and is an important step in the consolidation process. By prequalifying, you can see what lenders can offer you in terms of funding amount, monthly payment and interest rate. Prequalify for several lenders and see how they stack up.
Once you’ve decided which lender you’d like to work with, you’ll have to apply for the personal loan. This process will involve a hard credit check and a detailed review of your credit history and financial situation. You’ll likely have to include several documents confirming your identity and information.
Once you’ve been approved, your lender may help you pay off your credit card issuers — but some might not. You may have to pay the debts yourself once you receive the loan funds in your bank account. Then, you’ll begin to pay off the new consolidation loan on a monthly basis.
You shouldn’t have to pay out of pocket to take out a personal loan — that could be a sign of predatory lending. However, depending on the lender, you may need to pay an origination fee, which is deducted from your loan amount. You’ll also pay interest over the life of your loan, but this is included in your monthly payment.
It depends. A balance transfer credit card can be a great tool if it comes with 0% interest and you know you can pay off your debt during the introductory period. If you need more than a year to pay your debt, a personal loan may make more sense since loan terms commonly reach five years (or longer).
This is largely a personal choice. If you only have two credit cards with a combined total balance of $500, it probably doesn’t make sense to consolidate. But those who owe a significant amount spread across multiple cards may find that a credit card consolidation loan can make it easier to create a budget to pay off debt and may provide a lower APR.
