The Best Debt Consolidation Options Compared
Compare personal loans, balance transfer cards, and debt management plans. Find the lowest rate and fastest payoff for your situation — for free.
3 Ways to Consolidate Debt
Each method has different requirements and benefits — pick the right one for your credit score and debt amount.
Best for credit scores 580+. Fixed rate, fixed term. Pay off in 2-5 years. Rates from 6% APR.
Best for credit scores 670+. 0% APR for 12-21 months. No interest while you pay down debt.
Best for any credit score. Nonprofit credit counseling. Reduced rates, single monthly payment.
Not sure which is right? Compare side-by-side to find the best option for your situation.
Debt Consolidation Guides & Reviews
Everything you need to make a smart decision about consolidating your debt.
Debt Consolidation FAQ
What credit score do I need for debt consolidation?
Most personal loan lenders require a minimum credit score of 580-640. For the best rates (under 10% APR), you typically need a score of 720+. Balance transfer cards usually require 670+. If your score is below 580, a debt management plan may be a better option.
How much can I save with debt consolidation?
By consolidating $10,000 in credit card debt at 21.52% APR into a personal loan at 11% APR over 3 years, you could save over $2,000 in interest. Savings vary based on your current rates, loan amount, and the rate you qualify for.
Does debt consolidation hurt your credit?
Applying for a consolidation loan causes a small temporary dip (5-10 points) due to the hard inquiry. Long-term, debt consolidation can help your credit by reducing your credit utilization ratio and creating a positive payment history.
Is debt consolidation better than debt settlement?
Debt consolidation is better if you can afford monthly payments and want to protect your credit score. Debt settlement is better if you are severely in debt and cannot make minimum payments. Consolidation costs less in fees and has less credit impact.