How to Consolidate Credit Card Debt ? 10 Best Companies

One of the best things you can do to get out of debt is to refinance your credit card debt. Your credit cards probably have hefty interest rates.

More of your monthly payment goes to the principal, allowing you to pay off your debt faster while also receiving a lower interest rate.

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The top debt consolidation companies with the best prices and conditions are listed below.

Top Companies for Credit Card Debt Consolidation

Every platform offers free rate estimates for your available loan options. To ensure you get the best repayment choice, compare rates from various lenders.

The lender with the highest Trustpilot rating is ranked first. Each lender has a distinct range of financing alternatives, and some might not be accessible in your state.

1. LendingPoint

With a credit score in the 600s and “Near Prime Credit,” internet lending platforms may be a more cost-effective choice than a traditional bank. Credit card refinancing loans from LendingPoint range in price from $2,000 to $36,500.

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Given that the lowest repayment period is 24 months, you might also be able to achieve an interest rate reduction. For most lenders, the shortest repayment period is 36 months.

If you need more time, the longest repayment period is 60 months.

LendingPoint offers next-day loan payouts after approving your loan because they are a direct lender. So, as opposed to a peer-to-peer lending site, you can get your loan funds sooner.

Score on Trustpilot: 4.9 out of 5.

2. Newcomer

Upstart, a pioneer in the lending sector, was founded by former Google workers. Consider Upstart if you’re a young professional with a spotty credit history.

In addition to using your credit report, Upstart takes the following into account:

Work Experience, Study Subject, and Salary Potential

You can receive a cheaper rate than what other lenders provide if you work in a prosperous industry. This lender is distinctive due to its thorough underwriting procedure.

In addition to credit card debt, student loans can also be refinanced. may combine debts from various sources.

The amount of your loan can range from $1,000 to $50,000. Your two loan repayment terms are three years and five years.

The two-minute qualification process takes place. If you are accepted, Upstart will send you the money as soon as the following business day.

4.9 out of 5 stars on Trustpilot

3. FreedomPlus

The rates offered by FreedomPlus are competitive if your balance is at least $7,500. Borrowers who meet the requirements may be eligible for loan amounts up to $50,000.

The time frame for repayment is 24 to 60 months.

Most loans are approved by FreedomPlus in three hours. You can typically get your money within 72 hours.

FreedomPlus gives you the option to pick the day on which your payments are due.

Even with a credit score as low as 620, you can be eligible. Many lenders are more forgiving with this minimum credit score.

Score on Trustpilot: 5.0/5.

4. LendingClub

You can consolidate up to $40,000 with LendingClub and choose between a three- or five-year payback plan. However, to be eligible for the largest lending amounts, you could need a credit score in the 700s.

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You have the option of applying alone or with another borrower. With a minimum credit score of 600, you might be eligible.

A loan origination fee of 3%–6% of the loan amount is charged. Although the majority of lenders impose this cost, it is the sole fee this platform levies.

Within 48 hours of approving the loan terms, you can get your money.

Score on Trustpilot: 4.8 out of 5.

5. OneMain Financial

You could consider refinancing your credit card debt with a local bank.You can carry out the entire refinancing procedure online with OneMain Financial.

You can request a quote online, but the application procedure must be completed in person by a local branch agent.

There are various ways to repay the loans, which range in size from $1,500 to $20,000.

One benefit of working with OneMain Financial is that, if your application is accepted by noon Eastern, you can have your money the same day. It could take up to two business days for some deposits.

Score on Trustpilot: 4.8 out of 5.

6. Reputable

One of the simplest ways to swiftly combine your credit card debt is by using Credible. They are a loan comparison website that offers three estimates from reputable lenders.

Using our service won’t cost you any extra money, and the interest rate is the same as if you applied straight through the lender’s website.

Through Credible’s lending network, you can ask for a loan of up to $100,000. There are loans starting at $600 available.

Keep in mind that you can save more money by refinancing earlier. Rate comparison shopping takes time, but Credible expedites it.

For instance, Credible enables you to refinance your credit card debt with autopay at interest rates ranging from 3.99% to 35.99%. Imagine the savings if you now paid 15% or 20% interest on your credit card.

Trustpilot rating: 4.6 out of 5

7. Best Egg

You can refinance credit card debt for up to $50,000 with Best Egg. The length of the repayment period ranges from 36 to 60 months.

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All loans include an origination fee that ranges from 0.99% to 5.99%.

Two distinct loans from Best Egg may be outstanding at once. Your overall loan sum, though, cannot be more than $50,000.

Score on Trustpilot: 4.6 out of 5.

8. Online Personal Loans is another website for loan comparisons. Multiple lenders will provide estimates for loans with sums between $1,000 and $35,000,

You have between 3 months and 72 months (6 years) to pay off the debt in full, depending on how much you refinance.

Peer lenders and conventional banks are both part of the PersonalLoans lender network. With a credit score of 600, loan approval is achievable. Additionally, in order for lenders to accept you, your monthly income must be at least $2,000,

Score on Trustpilot: 4.6 out of 5.

9. Improve

Upgrade provides personal loans for debt consolidation up to $50,000 with terms ranging from 24 to 84 months.

The smallest loan amount is $1,000. Although the interest rates are competitive, the origination charge, which can range from 2.9% to 8%, can be quite costly.

The ability for the lender to transmit loan funds straight to your credit card provider is one benefit of utilising Upgrade. Additionally, you can get your money in one business day.

Score on Trustpilot: 4.7/10.

10. Tally

For iOS and Android mobile devices, there is an app called Tally. The programme analyses your credit card balances and suggests a payback schedule to reduce interest costs.

You might be eligible for a line of credit rather than a conventional personal loan. In that case, your monthly cost is $25 in addition to the line of credit’s APR.

This fee structure may be less expensive than what personal loan lenders charge over the course of a loan.

In this case, Tally creates a payment schedule for you. Then they pay the credit card issuers on your behalf.

However, you can apply for a normal loan from one of the other lenders on this list when refinancing is more affordable.

You could still choose to use the fundamental Tally service, which creates a customised payback schedule and keeps track of your credit card payments. The cost per month is $4.99.

Score on Trustpilot: 4.4 out of 5.

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