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Credit card consolidation loans

How We Get Paid

We want this to be a “win-win” situation. So we only want to get paid if we bring you value in the form of finding a personal finance option that works for you. Not by selling your data. Credible receives compensation by the lender if you finish the loan process and a loan is disbursed. The amount of our compensation does not impact how and where lenders appear on our site, and Credible charges you no fees of any sort. Some lenders may take traffic sources into account when offering credit terms.

Rates from 5.73% APR1

Loan amounts from $600 to $100,000

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LenderRates from (APR)Loan termLoan amountCheck Rates

Rates from (APR)

9.95-35.99%

Loan term

2 - 5 years

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Rates from (APR)

7.99-15.19%

Loan term

3 - 6 years

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Rates from (APR)

8.99-35.99%

Loan term

2 - 5 years

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Rates from (APR)

6.99-24.99%

Loan term

3 - 7 years

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Rates from (APR)

7.99-29.99%

Loan term

2 - 5 years

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Rates from (APR)

7.99-29.99%

Loan term

2 - 5 years

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Rates from (APR)

8.30-36.00%

Loan term

3 - 5 years

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Rates from (APR)

7.99-35.99%

Loan term

2 - 6 years

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Rates from (APR)

5.99-22.49%4

Loan term

2 - 7 years

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Rates from (APR)

6.99-24.99%

Loan term

3 - 6 years

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Rates from (APR)

18.00-35.99%

Loan term

2 - 5 years

Check Rates

Rates from (APR)

7.74-17.99%

Loan term

1 - 5 years

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Rates from (APR)

5.99-35.99%

Loan term

2 - 5 years

Check Rates

Rates from (APR)

7.99-23.43%3

Loan term

2 - 7 years

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Rates from (APR)

11.69-35.93%

Loan term

3, 5, or 7 years

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Rates from (APR)

7.96-35.97%

Loan term

3 - 7 years

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Rates from (APR)

5.40-35.99%

Loan term

3, 5, or 7 years

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Advertiser Disclosure
The rates that appear are from companies which Credible receives compensation. This compensation does not impact how or where products appear within the table. The rates and information shown do not include all financial service providers or all of the displayed lender's available services and product offerings.

Credible’s rating criteria incorporates 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more.

Read our full methodology.

Calculate your savings with Credible

Use our debt consolidation calculator to see how different terms and interest rates can change what you pay over time.

1. Enter your current loan details

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2. Choose a rate to compare

Our lender rates vary from 5.40% to 35.99% APR1

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3. Check the results

With an interest rate of 12% over 5 years, you will pay per month and in interest over the lifetime of your loan.

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Our Impact

With Credible, you can save money while enjoying a simple, intuitive personal loan shopping process.

in 2021 We’ve helped over

55,600 people

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We've saved our customers

over $92 million

in interest on their loans

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Excellent customer service

I was apprehensive when I first started... but the customer service was excellent .. I got a good deal very quickly and they helped me .. totally recommend it

See Manpreet's review
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Great rates for consolidation

Outstanding, competitive rates. It let me shop different vendors without having to go to multiple sources and provide my info. I will be saving a ton ...

See Greg's review
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Easy process

I was able to refinance my student loan and secure a much lower rate than I had with my other servicer. The process was so easy!

See Alicia's review

Individual experience may vary.

Why use a loan to pay off credit card debt?

reason type

Lower rates

Getting rid of high-interest debt can save you money on interest payments.

reason type

Improve your credit

Making on-time payments on a loan can boost your credit score.

reason type

Know when you’ll be debt free

Instead of having an open-ended term with your credit card company, a loan provides you with an end date so payoff is in sight.

For all your goals

Our lenders support personal loans for many different loan purposes. They offer low interest rates and a variety of loan amounts and loan terms to help you meet your personal and financial goals.

Loan goals

Debt Consolidation

Pay off high-interest debt by combining it all into a single loan and payment at a lower interest rate.

Debt Consolidation Loans
Loan goals

Home Improvement

Finance a home improvement project from major repairs to a remodel or addition.

Home Improvement Loans
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Credit Card Refinancing

Refinance high-interest credit debt by combining it all into one loan and payment at a lower interest rate.

Credit Card Refinancing Loans
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Loans for those who may have credit difficulties (like poor credit or a thin credit history).

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Commonly asked questions

Editorial disclosure: 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."

A credit card consolidation loan is a type of personal loan that you can use to pay off high-interest credit card balances. This process (also known as credit card refinancing) leaves you with just one single monthly payment to manage.

Depending on your credit, you could get a lower interest rate on a personal loan than what you’re currently paying on your credit cards — saving you money each month and potentially repaying your debt faster.

Or, you might opt to extend your repayment term to lower your monthly payment and lessen the strain on your budget. Just keep in mind that choosing a longer repayment term means you’ll pay more in interest over time.

You use a credit card consolidation loan to pay off existing credit card debt. Through this process, you can combine your balances from multiple credit cards so you’ll have just one loan with a single manageable payment.

Ideally, a credit card consolidation loan could get you a lower interest rate than you’ve been paying — which could save you hundreds or even thousands of dollars on interest charges over time.

Borrowing money comes at a cost, so it's important to understand the differences between APR and interest rate when comparing loans or credit card offers.

The interest rate is the amount a lender charges you for taking out a loan. It also applies to the percentage charged on credit card balances.

Annual percentage rate (APR) is the actual total cost you pay for taking out a loan, including your interest rate and any fees the lender charges, such as origination fees. Your loan APR is an important figure when calculating your loan costs because it gives you an overall picture of the total amount you’ll pay.

The APR on credit cards tends to be higher than on personal loans, which means you might be able to get a lower APR by consolidating your credit card debt with a personal loan. And, unlike credit cards, personal loans generally come with low interest rates that are fixed for the life of your loan.

Consolidating your credit card debt might be a good idea for several reasons, such as:

  • You could get a lower interest rate. If you consolidate your credit card debt, you might qualify for a lower interest rate than what you’ve been paying. This could save you money on interest and potentially help you pay off your debt faster.

  • You need a lower monthly payment. Personal loans typically come with repayment terms from one to seven years, depending on the lender. Choosing a longer term can reduce your monthly payment and lessen the strain on your budget. Keep in mind that extending your term means you’ll pay more interest over time.

  • You have multiple debts to manage. Consolidating your credit card debt will leave you with just one loan and one single monthly payment to worry about. You also have the option to consolidate other types of debt with a personal loan, not just credit cards — for example, you could consolidate bills or other loans with higher APRs.

If you consolidate credit card debt with a personal loan and can qualify for a lower interest rate, you could save a significant amount of money on interest over the life of your loan.

For example, say you're repaying $10,000 in credit card debt at 16.91% interest. In order to pay that debt off in two years, you'd have to make monthly loan payments of $494, and you'd pay $1,856 in interest charges. Additionally, since most credit cards have variable interest, you might end up paying more than this.

Refinancing that debt into a two-year credit card consolidation loan with a fixed 10.36% interest rate would lower your monthly payment by $31 and save you $741 in interest.

Also keep in mind that most lenders — including Credible’s partner lenders — don’t charge fees for repaying your loan early, so you might be able to save even more if you can afford to pay off your loan ahead of schedule. You can use Credible’s Personal Loan Calculator to see how much you’ll pay for a personal loan — and how much you might be able to save.

Generally, shopping around and comparing your loan options from multiple lenders likely won’t hurt your credit score — so long as the lender lets you see your personalized options with only a soft credit check. For example, checking your prequalified rates from Credible’s partner lenders only requires a soft credit pull, which won’t affect your credit.

When you apply for a credit card consolidation loan, the lender will perform a hard credit check, which could cause a slight drop in your score. But this dip is usually only temporary, and your score will likely bounce back within a few months.

Additionally, a credit card consolidation loan could actually help improve your credit score. For example, by making on-time payments and lowering your credit utilization by consolidating your debt, you could also help boost your score.

Ultimately, the positive impact on your credit score from a credit card consolidation loan will likely outweigh any initial negative effects.

A balance transfer credit card is another option for consolidating your credit card debt. You can move your balance from one card to another and pay off your balances interest-free. But the interest-free period on a balance transfer card doesn’t last forever, and you may pay a balance transfer fee.

If you’re considering a personal loan vs. a balance transfer card, here are some pros and cons of each approach to keep in mind:

  • Lower interest rates than credit cards

  • Longer repayment terms (usually 1 to 7 years, depending on the lender)

  • Can consolidate multiple types of debt

  • Fewer options for poor or fair credit

  • Might come with fees (such as origination fees)

  • No rewards or perks

  • Some cards come with a 0% APR introductory period

  • Might come with rewards or perks

  • Could help you establish a longer credit history

  • Higher interest rates than personal loans

  • Will likely come with a balance transfer fee (typically 3% to 5% of the balance you want to transfer)

  • Could tempt you to rack up more credit card debt

There’s no difference. A credit card consolidation loan is simply a type of personal loan that you can use to pay off credit card debt. But keep in mind that you can use a personal loan for almost any other personal expense, too — such as consolidating other kinds of debt or making large purchases.

Consolidating credit card debt or simply paying it off are both viable strategies for managing your credit cards. The right option for you will depend on your individual circumstances and financial goals.

Paying off your credit cards

If you choose to pay off your credit cards without consolidating them, you won’t be able to take advantage of the lower fixed rates that personal loans offer. Additionally, credit card variable rates can fluctuate, which could land you with higher interest charges and prolong your repayment time. You’ll also have to keep track of the payments and rates on each card to stay on top of them.

But if you have relatively small balances on each of your cards and can repay them in a short amount of time, simply paying off your cards might be an easier option.

Consolidating your credit card debt

If you use a personal loan to pay off your credit cards, you’ll be left with just one loan and payment to worry about. Additionally, you’ll typically have a fixed rate that won’t change over the life of the loan. And because personal loan rates are usually lower than credit card rates, you might be able to save on interest over time and potentially pay off your debt faster.

But if you have poor credit, you could have a hard time qualifying for a better rate. In this case, it might make more sense to simply focus on repaying your credit card balances through on-time payments.

Keep in mind that building a positive payment history and lowering your credit utilization — or how much you owe on your cards versus your total credit limits — could help improve your credit score over time and