Our goal is to give you the tools and confidence you need to improve your finances. Although we receive compensation from our partner lenders, whom we will always identify, all opinions are our own. Credible Operations, Inc. NMLS # 1681276, is referred to here as "Credible."
If you have high-interest debt, like credit cards with rates at 18%+, and it’s completely taking over your life and ruining your finances — don’t panic. There’s still hope!
The good news is: If you’re reading this, you’ve already taken the first step to paying off your debt. You’re in the right place.
Besides creating (or updating) your budget, cutting your spending, or getting some extra income from a side hustle, there are two really easy ways to pay off your high-interest debt once and for all.
1. Pay off your debt faster (and save money while you’re at it)
One of the best ways you can tackle that high-interest debt is to use a credit card consolidation loan. This can help reduce the total amount of interest you’ll owe if you get a loan at a lower interest rate than you’re paying on your credit cards.
But with all of the options out there, how do you find the best loan?
- Is super easy and fast (compare rates in just 2 minutes!)
- Won’t impact your credit score (so even if you’re simply curious, you should check rates to see your options!)
- Allows you to compare multiple lenders at once (for loan amounts up to $100,000!)
We’re here to help you make the right decision and find the right loan for your situation. We make it easy for you to see prequalified rates for personal loans.
Let’s say you have $15,000 in credit card debt, with a staggering interest rate of 18.35%. Instead of paying that high interest rate, you could save $2,865 with a personal loan.*
Credible makes it easy to request rates from all of the personal loan companies in the table below by filling out just one form and without affecting your credit score.
| Lender | Fixed rates | Loan amounts |
|---|---|---|
 View details | 9.95% - 35.99% APR | $2,000 to $35,000** |
*If approved, the actual loan terms that a customer qualifies for may vary based on credit determination, state law, and other factors. Minimum loan amounts vary by state. **Example: A $5,700 loan with an administration fee of 4.75% and an amount financed of $5,429.25, repayable in 36 monthly installments, would have an APR of 29.95% and monthly payments of $230.33. |
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 View details | 6.49% - 29.99% APR | $5,000 to $35,000 |
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 View details | 5.99% - 29.99% APR | $5,000 to $35,000 |
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 View details | 6.99% - 24.99% APR | $2,500 to $35,000 |
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 View details | 7.99% - 29.99% APR | $10,000 to $35,000 |
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 View details | 10.68% - 35.89% APR | $1,000 to $40,000 |
LendingClub personal loans review †Based on a majority of borrowers from LendingClub's marketing partners who were issued loans between 1/1/19-12/13/19. The time it takes for your loan to be funded may vary. |
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 View details | 15.49% - 35.99% APR | $2,000 to $25,000 |
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 View details | 3.99% - 19.99% APR | $5,000 to $100,000 |
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 View details | 6.99% - 19.99% APR1 | $3,500 to $40,0002 |
1Rate reduction available for AutoPay. 2You may be required to have some of your funds sent directly to pay off outstanding unsecured debt. 3After making 12 or more consecutive monthly payments, you can defer one payment as long as you have made all your prior payments in full and on time. Marcus will waive any interest incurred during the deferral and extend your loan by one month (you will pay interest during this extra month). Your payments resume as usual after your deferral. Advance notice is required. See loan agreement for details. |
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 View details | 18.00% - 35.99% APR | $1,500 to $20,000 |
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 View details | 5.99% - 24.99% APR | $5,000 to $40,000 |
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 View details | 6.49% - 17.99% APR | $600 to $20,000 (depending on loan term) |
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 View details | 6.95% - 35.99% APR | $2,000 to $40,000 |
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 View details | 5.99% - 18.83% APR | $5,000 to $100,000 |
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 View details | 7.99% - 35.97% APR | $1,000 to $50,000 |
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 View details | 8.13% - 35.99% APR4 | $1,000 to $50,0005 |
4The full range of available rates varies by state. The average 3-year loan offered across all lenders using the Upstart platform will have an APR of 15% and 36 monthly payments of $33 per $1,000 borrowed. There is no down payment and no prepayment penalty. Average APR is calculated based on 3-year rates offered in the last 1 month. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved. 5This offer is conditioned on final approval based on our consideration and verification of financial and non-financial information. Rate and loan amount are subject to change based upon information received in your full application. This offer may be accepted only by the person identified in this offer, who is old enough to legally enter into contract for the extension of credit, a US citizen or permanent resident, and a current resident of the US. Duplicate offers received are void. Closing your loan is contingent on your meeting our eligibility requirements, our verification of your information, and your agreement to the terms and conditions on the www.upstart.com website. 6If you accept your loan by 5pm EST (not including weekends or holidays), loan funds will be sent to your designated bank account on the next business day, provided that such funds are not being used to directly pay off credit cards. Loans used to fund education related expenses are subject to a 3 business day wait period between loan acceptance and funding in accordance with federal law. |
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2. Find a balance transfer credit card and avoid paying interest for an extended period of time
Instead of taking out a personal loan, another option you can consider if you have credit card debt is a balance transfer credit card. These cards may offer a lower, introductory interest rate of 0% for a certain length of time — usually 6 to 21 months. A balance transfer card is a great option if you know you can pay the debt off before the promotional APR ends.
If you’re currently paying high interest on your credit card each month, that really adds up. Instead, you’ll finally be able to focus on paying down your actual balance without the extra interest charges.
Keep in mind, though, there’s often a balance transfer fee that’s calculated as a percentage of the debt you’re transferring. So, make sure to factor that amount in before you decide to go this route to make sure it makes sense for you.
Ready to find your balance transfer card?
Credible makes it easy to find the right card for you.
*The estimated savings calculation is derived by taking the estimated lifetime cost of paying off credit card debt minus the total estimated lifetime cost of a personal loan from one of Credible’s partners, based on the assumptions outlined below.
Credible’s savings methodology assumes the following about the current credit card debt: 1) an APR of 18.35% (which is an average credit card APR for persons with a credit score of 739+); and 2) the credit card debt is paid off in 48 equal monthly payments, with no late payments and no additional expenses incurred on the credit card during this time period; and 3) the outstanding balance on the credit card is equal to the loan amount input into the calculator. The calculation also assumes the following about the personal loan selected through Credible: 1) an APR of 10.45% (the average APR shown on Credible for borrowers with a credit score of 739+); and 2) the loan is paid on-time for the duration of a 48 month term and no pre-payments are made.
This estimate does not account for how payments are allocated or how interest is calculated. Actual savings may vary based on interest rates, balances, remaining repayment term, credit score and other factors. The estimated savings amount is not representative of your current situation or qualifications and is not a commitment to lend. There are no guarantees or representations that you will qualify for a loan with a lender on the Credible marketplace.
About Rates and Terms: Rates for personal loans provided by lenders on the Credible platform range between 4.99-35.99% APR with terms from 12 to 84 months. Rates presented include lender discounts for enrolling in autopay and loyalty programs, where applicable. Actual rates may be different from the rates advertised and/or shown and will be based on the lender’s eligibility criteria, which include factors such as credit score, loan amount, loan term, credit usage and history, and vary based on loan purpose. The lowest rates available typically require excellent credit, and for some lenders, may be reserved for specific loan purposes and/or shorter loan terms. The origination fee charged by the lenders on our platform ranges from 0% to 8%. Each lender has their own qualification criteria with respect to their autopay and loyalty discounts (e.g., some lenders require the borrower to elect autopay prior to loan funding in order to qualify for the autopay discount). All rates are determined by the lender and must be agreed upon between the borrower and the borrower’s chosen lender. For a loan of $10,000 with a three year repayment period, an interest rate of 7.99%, a $350 origination fee and an APR of 11.51%, the borrower will receive $9,650 at the time of loan funding and will make 36 monthly payments of $313.32. Assuming all on-time payments, and full performance of all terms and conditions of the loan contract and any discount programs enrolled in included in the APR/interest rate throughout the life of the loan, the borrower will pay a total of $11,279.43. As of March 12, 2019, none of the lenders on our platform require a down payment nor do they charge any prepayment penalties.
