Best Debt Consolidation Loans of September 2024
8.99-29.99%
$5K-$100K
None
Qualified borrowers will find few lenders better than SoFi, thanks to thoughtful perks like unemployment protection and free financial advising.
- Must be at least 18 years old in most states.
- Must be a U.S. citizen, permanent or non-permanent resident, including DACA recipients and asylum seekers.
- Must be employed, have sufficient income from another source, or have an offer of employment to start within the next 90 days.
- Acceptable income sources: Employment, spouse’s income, retirement, alimony, child support, Social Security payments and disability benefits.
- Origination fee: 0% to 7%.
- Late fee: None.
8.49-35.99%
$1K-$50K
580
Upgrade personal loans come with multiple rate discounts and offer direct payment to creditors. This lender has a low minimum credit score requirement, making the perks stand out even more.
- Minimum credit score: 580.
- Minimum number of accounts on credit history: One account.
- Maximum debt-to-income ratio: 75%, including mortgage payments.
- Minimum length of credit history: Two years.
- Minimum income requirement: None. Lender accepts income from alimony, retirement, child support, Social Security, disability benefits and other sources.
- Origination fee: 1.85% to 9.99%.
- Late Fee: $10.
- Failed payment fee: $10.
6.99-25.49%
$5K-$100K
660
LightStream is a solid option for good-credit borrowers, with no fees and low rates that vary based on loan purpose.
- Minimum credit score: 660, but can vary depending on the loan purpose and amount.
- Maximum debt-to-income ratio: 50%.
- Minimum credit history: 3 years.
- Income sources accepted: Employment, retirement, rental income, alimony, child support, Social Security payments and disability benefits.
- Must be a U.S. citizen or permanent resident who is at least 18 years old and has a U.S. bank account.
- Origination fee: None.
- Late fee: None.
11.72-17.99%
$5K-$40K
640
If you qualify for a low rate, Happy Money is a smart way to consolidate high-interest credit card debt into one fixed monthly payment.
- Must be a U.S. citizen or permanent resident.
- Must have a valid Social Security number.
- Minimum credit score: 640.
- Minimum credit history: 6 years and 2 accounts.
- Maximum debt-to-income ratio: 55%.
- No bankruptcies filed in past two years.
- Origination fee: 1.5% to 5%.
8.99-35.99%
$5K-$50K
640
Achieve personal loans can be a good debt consolidation option for fair- or good-credit borrowers who qualify for one of the lender’s rate discounts.
- Minimum credit score: 640.
- Maximum debt-to-income ratio: 70% including a mortgage payment or other housing expense.
- Minimum income: None.
- Minimum credit history: 3 years across 2 accounts.
- Must be a U.S. citizen or permanent resident living in a state where Achieve operates.
- Must provide a Social Security number or ITIN.
- Origination fee: 1.99% - 6.99%.
- Late fee: $8.
7.99-35.99%
$2K-$50K
600
Best Egg is worth considering for borrowers looking for a secured loan or to consolidate debt, but the loans come with an origination fee.
- Minimum credit score: 600.
- Maximum debt-to-income ratio: 70% including a mortgage.
- Minimum credit history: 3 years and 1 account.
- Acceptable income sources: Employment, household income, alimony, retirement, child support, Social Security payments and disability benefits.
- Must be a U.S. citizen or permanent resident and at least 18 years of age.
- Origination fee: 0.99% - 9.99%.
11.69-35.99%
$1K-$50K
580
A Universal Credit loan is a sound option for bad-credit borrowers looking to build credit, but rates are high compared to similar lenders.
- Minimum credit score: 560.
- Minimum number of accounts on credit history: 1 account.
- Maximum debt-to-income ratio: 75%, including mortgage and the loan you’re applying for.
- Minimum length of credit history: 2 years.
- Minimum income requirement: None. Lender accepts income from alimony, retirement, child support, Social Security and other sources.
- Origination fee: 5.25% to 9.99%.
- Late fee: Up to $10.
- Non-sufficient funds fee: $10.
8.98-35.99%
$1K-$40K
600
LendingClub personal loans are a solid option for good-credit borrowers looking to consolidate debt and build their credit.
- Minimum credit score: 600; average borrower score is above 700.
- Minimum income: None; lender requires proof of income. Borrower average is $100,000 per year.
- Maximum DTI: 40%.
- Minimum credit history: 36 months and two accounts.
- Origination fee: 3% to 8%.
- Late fee: 5% of payment or $15 after 15-day grace period.
- Insufficient funds: $15.
7.99-24.99%
$2.5K-$40K
660
With competitive rates and no origination fees, Discover personal loans are good options for borrowers with good and excellent credit.
- Minimum credit score: 660.
- Minimum annual household income: $25,000. Income can come from employment, retirement, alimony, child support, Social Security payments and disability benefits.
- Must provide a valid U.S. address and email address.
- Must be 18 years old with a valid Social Security number.
- Origination fee: None.
- Late fee: $39.
For borrowers who want flexibility, PNC delivers with a wide range of repayment terms and a joint loan option, but non-customers may need to visit a branch to close the loan.
- Minimum credit score: None.
- Must be at least 18 years old.
- Must provide date of birth and Social Security number.
- Must show photo ID.
- Must be able to show proof of income.
- Origination fee: None.
- Late fee: Greater of $40 or 10% of amount due, after 15-day grace period.
Qualified borrowers will find few lenders better than SoFi, thanks to thoughtful perks like unemployment protection and free financial advising.
- Must be at least 18 years old in most states.
- Must be a U.S. citizen, permanent or non-permanent resident, including DACA recipients and asylum seekers.
- Must be employed, have sufficient income from another source, or have an offer of employment to start within the next 90 days.
- Acceptable income sources: Employment, spouse’s income, retirement, alimony, child support, Social Security payments and disability benefits.
- Origination fee: 0% to 7%.
- Late fee: None.
Upgrade personal loans come with multiple rate discounts and offer direct payment to creditors. This lender has a low minimum credit score requirement, making the perks stand out even more.
- Minimum credit score: 580.
- Minimum number of accounts on credit history: One account.
- Maximum debt-to-income ratio: 75%, including mortgage payments.
- Minimum length of credit history: Two years.
- Minimum income requirement: None. Lender accepts income from alimony, retirement, child support, Social Security, disability benefits and other sources.
- Origination fee: 1.85% to 9.99%.
- Late Fee: $10.
- Failed payment fee: $10.
LightStream is a solid option for good-credit borrowers, with no fees and low rates that vary based on loan purpose.
- Minimum credit score: 660, but can vary depending on the loan purpose and amount.
- Maximum debt-to-income ratio: 50%.
- Minimum credit history: 3 years.
- Income sources accepted: Employment, retirement, rental income, alimony, child support, Social Security payments and disability benefits.
- Must be a U.S. citizen or permanent resident who is at least 18 years old and has a U.S. bank account.
- Origination fee: None.
- Late fee: None.
If you qualify for a low rate, Happy Money is a smart way to consolidate high-interest credit card debt into one fixed monthly payment.
- Must be a U.S. citizen or permanent resident.
- Must have a valid Social Security number.
- Minimum credit score: 640.
- Minimum credit history: 6 years and 2 accounts.
- Maximum debt-to-income ratio: 55%.
- No bankruptcies filed in past two years.
- Origination fee: 1.5% to 5%.
Achieve personal loans can be a good debt consolidation option for fair- or good-credit borrowers who qualify for one of the lender’s rate discounts.
- Minimum credit score: 640.
- Maximum debt-to-income ratio: 70% including a mortgage payment or other housing expense.
- Minimum income: None.
- Minimum credit history: 3 years across 2 accounts.
- Must be a U.S. citizen or permanent resident living in a state where Achieve operates.
- Must provide a Social Security number or ITIN.
- Origination fee: 1.99% - 6.99%.
- Late fee: $8.
Best Egg is worth considering for borrowers looking for a secured loan or to consolidate debt, but the loans come with an origination fee.
- Minimum credit score: 600.
- Maximum debt-to-income ratio: 70% including a mortgage.
- Minimum credit history: 3 years and 1 account.
- Acceptable income sources: Employment, household income, alimony, retirement, child support, Social Security payments and disability benefits.
- Must be a U.S. citizen or permanent resident and at least 18 years of age.
- Origination fee: 0.99% - 9.99%.
A Universal Credit loan is a sound option for bad-credit borrowers looking to build credit, but rates are high compared to similar lenders.
- Minimum credit score: 560.
- Minimum number of accounts on credit history: 1 account.
- Maximum debt-to-income ratio: 75%, including mortgage and the loan you’re applying for.
- Minimum length of credit history: 2 years.
- Minimum income requirement: None. Lender accepts income from alimony, retirement, child support, Social Security and other sources.
- Origination fee: 5.25% to 9.99%.
- Late fee: Up to $10.
- Non-sufficient funds fee: $10.
LendingClub personal loans are a solid option for good-credit borrowers looking to consolidate debt and build their credit.
- Minimum credit score: 600; average borrower score is above 700.
- Minimum income: None; lender requires proof of income. Borrower average is $100,000 per year.
- Maximum DTI: 40%.
- Minimum credit history: 36 months and two accounts.
- Origination fee: 3% to 8%.
- Late fee: 5% of payment or $15 after 15-day grace period.
- Insufficient funds: $15.
With competitive rates and no origination fees, Discover personal loans are good options for borrowers with good and excellent credit.
- Minimum credit score: 660.
- Minimum annual household income: $25,000. Income can come from employment, retirement, alimony, child support, Social Security payments and disability benefits.
- Must provide a valid U.S. address and email address.
- Must be 18 years old with a valid Social Security number.
- Origination fee: None.
- Late fee: $39.
For borrowers who want flexibility, PNC delivers with a wide range of repayment terms and a joint loan option, but non-customers may need to visit a branch to close the loan.
- Minimum credit score: None.
- Must be at least 18 years old.
- Must provide date of birth and Social Security number.
- Must show photo ID.
- Must be able to show proof of income.
- Origination fee: None.
- Late fee: Greater of $40 or 10% of amount due, after 15-day grace period.
NerdWallet’s guide to debt consolidation loans
Learn how debt consolidation loans work, the pros and cons of consolidating your debt and how to get a debt consolidation loan.
What are debt consolidation loans and how do they work?
Debt consolidation loans are a type of personal loan that combine multiple unsecured debts — such as credit cards, medical bills and payday loans — into one fixed monthly payment, making it easier to get out of debt.
As long as the interest rate on the debt consolidation loan is lower than the average rate of your existing debts, you’ll save money on interest and potentially pay off your debt faster.
Online lenders, banks and credit unions offer debt consolidation loans. Once you’re approved, the lender deposits the loan into your bank account, and you use that money to pay off your debts, so you’re left with only the new loan. Some lenders even pay off your creditors for you.
You then make monthly payments toward the debt consolidation loan until all your debt is paid off. Payments are fixed for the life of the loan, typically two to seven years.
Ask NerdWallet: Should I use a debt consolidation loan to pay off my credit card debt?
“Consolidating credit card debt is usually a smart move, because credit cards have really high interest rates, and when you carry a balance, you end up paying interest on interest. A debt consolidation loan has a fixed interest rate, so it stops the cycle of compounding interest, and rates tend to be lower.
It also gives you a plan. If you’ve only been able to make the minimum payments on your credit cards each month, you probably aren’t making much progress on your debt. A consolidation loan has a clear endpoint, as long as you make the monthly payments on time.”
![](https://www.nerdwallet.com/assets/blog/wp-content/uploads/2021/07/Jackie-Veling-105x105.jpg)
— Jackie Veling, Lead Writer on Debt Consolidation
Debt consolidation loan example
Let’s say you have $10,000 in credit card debt, spread across four different credit cards. The average annual percentage rate on a credit card is currently about 23%. If you’re making a minimum payment of $75 on each card, at 23% APR, it will take four and a half years to be debt-free, and it will cost an extra $6,200 in interest, on top of the original debt.
But if you take out a debt consolidation loan for $10,000, and use it to pay off your credit cards at once, you’ll save money as long as the APR on the new loan is less than 23%. For example, if you qualify for a debt consolidation loan with a 15% APR and a four-year repayment term, you’d save $2,841 in interest, and your monthly payment would be about $278.
Not only are you getting out of debt six months sooner than if you hadn’t consolidated, you’re paying a lower overall monthly payment ($278 versus $300), so you could apply the extra savings each month to the loan to get out of debt even faster.
Here’s a summary of our example comparing credit card and consolidation loan debt:
Credit card | Consolidation loan | |
---|---|---|
APR | 15%. | 23%. |
Monthly payment | $278. | $300. |
Payoff period | 4 years. | 4.5 years. |
Interest paid | $3,359. | $6,200. |
Total amount paid | $13,359. | $16,200. |
Are debt consolidation loans a good idea?
Debt consolidation loans are a good idea if you can get a lower annual percentage rate than what you're currently paying on your other debts. The best debt consolidation loan interest rates are reserved for borrowers with good or excellent credit (690 or higher credit score).
Like with all financial decisions, you should carefully weigh the pros and cons of consolidating your debts before you apply for a loan. Here are the main benefits and drawbacks of debt consolidation loans to help you make an informed decision.
Pros
- You pay less in interest.
- You may get out of debt faster.
- You have only one payment.
- You have a clear finish line.
Cons
- You may not qualify for a low enough rate.
- You still have debt you need to manage.
- Consolidation won’t fix core spending issues.
Pros of debt consolidation loans
You pay less in interest: By getting a debt consolidation loan at a lower rate than your current debts, you’ll save money on interest, which can make your debt more manageable.
You may get out of debt faster: Because you’re saving money on interest, you can use that savings to make larger payments on your loan and get out of debt even faster.
You have only one payment: Unlike juggling multiple credit card bills, you’ll have only one monthly payment if you combine your debts under a consolidation loan.
You have a clear finish line: A debt consolidation loan gives you an exact date you’ll be debt-free, which can help you stay motivated as you make the payments.
Cons of debt consolidation loans
You may not qualify for a low enough rate: Not all consolidation loans come with low interest rates, and if you have bad credit (a score below 630), you may not get a rate that’s lower than your current debts.
You still have debt you need to manage: Consolidating debt is a smart choice for many, but it’s important to remember the debt doesn’t disappear — it goes somewhere else. Most debt consolidation loans offer terms of two to seven years, so be prepared to stick to your monthly payments over that time period.
Consolidation won’t fix core spending issues: If you’re in debt because you struggle to stick to your monthly budget, a debt consolidation loan won’t fix that. It may even make things worse if you use your newly freed credit cards to rack up additional debt.
Debt consolidation loan interest rates
The interest rate you get on a debt consolidation loan depends on factors like your credit score and debt-to-income ratio, which is the percentage of your monthly income that goes to debt payments. Though rates vary, borrowers with good to excellent credit scores tend to get the lowest interest rates on debt consolidation loans.
The average consolidation loan interest rate for consumers with good credit (690 to 719 credit score) is currently 13.56%, according to aggregate, anonymized offer data from users who pre-qualified for a personal loan through NerdWallet. See the table below to get an idea of what rate you can expect.
Average debt consolidation loan interest rates
Borrower credit rating | Estimated APR | Score range |
Excellent | 10.26%. | 720-850. |
Good | 13.56%. | 690-719. |
Fair | 17.31%. | 630-689. |
Bad | 21.73%. | 300-629. |
Source: Average rates are based on aggregate, anonymized offer data from users who pre-qualified through NerdWallet from July 1, 2024, through July 31, 2024, and chose credit card consolidation or debt consolidation as their loan purpose. Rates are estimates only and not specific to any lender. The lowest credit scores — usually below 500 — are unlikely to qualify. Information in this table applies only to lenders with maximum APRs below 36%.
How does the Federal Reserve impact debt consolidation loan interest rates?
The Federal Reserve doesn’t directly set interest rates on debt consolidation loans. It sets the federal funds rate, which trickles down to impact the interest rates of many types of credit, including debt consolidation loans.
You’ve probably heard that rates are high right now, and while that’s true, it matters what type of credit you’re talking about. Variable-rate credit, like credit cards, are more heavily influenced by changes the Fed makes, while fixed-rate credit, such as debt consolidation loans, are less vulnerable. That means if you’re carrying a credit card balance, the interest you’re paying may be particularly high, and it’s smart to consolidate your debt with a lower-rate product like a debt consolidation loan.
Economists predict the Fed will make a rate cut during its upcoming meeting in September, and interest rates on debt consolidation loans may drop as a result, but it’s hard to say by how much.
Since lenders look at multiple factors when determining what rate you’ll get on a debt consolidation loan — including credit score, credit history, income and existing debt — it may be best to consolidate now and start the path toward getting out of debt, instead of betting on a rate drop that isn’t guaranteed.
How to compare personal loans for debt consolidation
Check that the available loan amounts and terms match your debt: Personal loans for debt consolidation loans come in a wide range of loan amounts ($1,000 to $50,000) and repayments terms (two to seven years). Look for a lender whose loan product meets your debt payoff needs.
Look for an annual percentage rate lower than your existing debts: The loan's annual percentage rate, or APR, represents its true annual cost and includes interest and any fees. Choose a low rate with monthly payments that fit your budget.
Avoid origination fees if you can: Some lenders charge origination fees to cover the cost of processing your loan. This one-time fee typically ranges from 1% to 10% of the loan amount and is deducted from your loan proceeds or added to the loan balance.
Avoid loans that include this fee to keep costs down, unless the APR (which includes the origination fee) is still lower than loans with no origination fee.
Look for special debt consolidation features: Some lenders offer consumer-friendly features like direct payment to creditors, which means the lender pays off your debts once your loan closes, saving you that task. Other lenders may offer free credit score monitoring.
How to get a debt consolidation loan
1. Add up current debts and calculate the combined interest rate
The first step in getting a debt consolidation loan is having a clear picture of your current debt. You can use NerdWallet’s debt consolidation calculator to see your total balance, total monthly payment and combined interest rate across all debts.
Keep two numbers in mind moving forward: Your total debt, because this is the loan amount you need to apply for, and your combined interest rate, because you’ll want a lower interest rate on your consolidation loan.
2. Pre-qualify and compare loan options
One of the best ways to compare loan offers is to pre-qualify with multiple lenders, which lets you see your potential loan terms, including APR, without any effect on your credit score. Though not all banks or credit unions offer pre-qualification, most online lenders do.
3. Apply for a debt consolidation loan
Once you’ve decided on a lender, it’s time to apply for the loan.
Most loan applications are online and ask you to supply personal information like your Social Security number, address and other contact details. You also may be asked to provide proof of identity, employment and income.
Once you’ve submitted your application, the lender will make an approval decision. If you’re approved, you’ll sign the loan agreement and receive the funds. Funding time varies among lenders, but some lenders can fund the same day you’re approved.
4. Pay off creditors
Here’s the most important step: Use the loan proceeds to pay off your existing debts. Some lenders send the funds to your creditors for you, so you’ll need to provide account information about your existing debts — and check the accounts to make sure they’re paid off.
If a lender doesn’t offer direct payment, they’ll deposit the funds in an account of your choosing or mail a check, if you prefer. It’ll be up to you to make sure the right amount goes to each debt.
5. Begin making payments on your new loan
Once your existing debts are paid, you’re left with your new loan. Personal loan payments are monthly, though there’s usually no fee for paying off a loan early. Make a plan now to manage your personal loan payments.
As you make progress on paying off your loan, try to keep your credit card balances at or near zero until you’re debt-free. But avoid closing the accounts, which can lower your credit score.
Does getting a debt consolidation loan hurt your credit?
Debt consolidation loans can affect your credit score.
Applying for a loan requires a hard credit check, which can temporarily ding your credit score by a few points. And if you turn around and rack up new credit card debt, your credit score will suffer.
Making late payments on your new loan can also hurt your credit score.
However, if you use the debt consolidation loan to pay off your debts and then pay off the new loan on time, the overall effect on your credit should be positive. That’s because you’ve lowered your credit utilization, which measures how much of your credit limit is tied up. Lowering your credit utilization helps your credit.
![Couple of hands typing on a laptop.](https://assets.nerdwallet.com/blog/wp-content/uploads/2024/02/laptop-search-desktop.png)
Start by paying down any small debts if you can. This lowers your debt-to-income ratio, which could help quickly build your score. You can also check your credit report for errors and file a dispute.
![Paper documents wrapped with a ribbon that has a checkmark on it.](https://assets.nerdwallet.com/blog/wp-content/uploads/2023/12/approved-documents-desktop.png)
Adding a co-borrower to your application, especially if that person has a better credit score than you, could improve your chances of getting approved. Co-borrowers are on the hook for repayment.
![A green bank that has a coin slot at the top where a hand is depositing a coin.](https://assets.nerdwallet.com/blog/wp-content/uploads/2023/12/bank-deposit-desktop.png)
Applying for a secured loan, in which you pledge collateral like your car or savings account to help guarantee the loan, is another way to boost your application. But if you fail to repay the loan, the lender can seize the collateral.
What to know about debt consolidation loans for bad credit
You can still get a debt consolidation loan if you have bad credit (a 629 credit score or lower).
Look specifically for lenders that let you pre-qualify with a soft credit check — that way you can check if you meet the lender’s requirements without taking a hit to your credit score. This will also help you check if the rate you qualify for is lower than your existing debts.
Some online lenders specifically offer debt consolidation loans for borrowers with bad credit. If you’re not sure where to begin, your local credit union is also a good first stop.
Other ways to get out of debt
A debt consolidation loan isn’t your only option for paying off debt.
0% balance transfer credit card
For borrowers with good to excellent credit, transferring debts to a 0% balance transfer card is a great option — as long as you can pay it off during the introductory period, which can last up to 21 months.
This is sometimes called credit card refinancing, and it's similar to a consolidation loan. But because you pay no interest during the introductory period, you can get out of debt even faster.
Nerdy Tip
Balance transfers work best if you can qualify for a card that covers the amount of your debt, and the savings in interest outweigh the balance transfer fee, which is typically 3% to 5% of the total amount transferred. Aim to pay off the balance in full before the zero-interest promotion expires and the APR resets to its normal, higher rate.
Credit counseling
Nonprofit organizations offer credit counseling, which includes helping you create a debt management plan. Similar to other consolidation products, these plans roll your debts into one manageable payment at a reduced interest rate.
DIY debt payoff strategies
If you’re not sure how to tackle debt, you may not need to consolidate. The debt snowball and debt avalanche methods are two common and effective strategies for paying off debt.
The snowball method focuses on paying off your smallest debt first, building momentum as you go. The avalanche focuses on paying off the debt with the highest interest rate first, then applying the savings elsewhere. Both can boost your payoff speed.
Debt relief
If you have significant debt (40% or more of your income) and no plan to pay it off, you may want to explore other strategies, like debt settlement or bankruptcy. Both of these options help eliminate unsecured debts, but they hurt your credit and are typically a last resort.
Frequently asked questions about debt consolidation
- Is debt consolidation a good reason to get a loan?
Debt consolidation is a good reason to get a loan, as long as you use the loan to successfully pay off your debts at a lower rate, make on-time payments to your new loan and safely manage debt in the future. Use a debt consolidation calculator to see what you can save.
- How hard is it to get a debt consolidation loan?
You can apply for most debt consolidation loans online, including loans from banks and credit unions. A loan application will ask for details about the loan you want, your personal and contact information, and information about your income and any debts. It may require additional documentation, like proof of identity and proof of income.
- What is the minimum credit score for a debt consolidation loan?
The minimum credit score for a debt consolidation loan varies by lender. Bad-credit lenders may accept borrowers with credit scores of 629 or less.
- What qualifies you for debt consolidation?
To qualify you for debt consolidation, a lender typically looks at your credit score, credit history, income and any existing debts. There are ways to boost your chances of getting approved for a loan, like building your credit and paying off small debts.
- Can I still use my credit card after debt consolidation?
You can still use your credit cards after debt consolidation. Consolidating your debts doesn’t close your credit cards, it just pays them off, but be careful about increasing your overall credit utilization and ending up in more debt than before.
Last updated on September 3, 2024
Methodology
NerdWallet’s review process evaluates and rates personal loan products from more than 35 technology companies and financial institutions. We collect over 50 data points from each lender and cross-check company websites, earnings reports and other public documents to confirm product details. We may also go through a lender’s pre-qualification flow and follow up with company representatives. NerdWallet writers and editors conduct a full fact check and update annually, but also make updates throughout the year as necessary.
Our star ratings award points to lenders that offer consumer-friendly features, including: soft credit checks to pre-qualify, competitive interest rates and no fees, transparency of rates and terms, flexible payment options, fast funding times, accessible customer service, reporting of payments to credit bureaus and financial education. Our ratings award fewer points to lenders with practices that may make a loan difficult to repay on time, such as charging high annual percentage rates (above 36%), underwriting that does not adequately assess consumers’ ability to repay and lack of credit-building help. We also consider regulatory actions filed by agencies like the Consumer Financial Protection Bureau. We weigh these factors based on our assessment of which are the most important to consumers and how meaningfully they impact consumers’ experiences.
NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodologies for personal loans and our editorial guidelines.
NerdWallet's Best Debt Consolidation Loans of September 2024
- SoFi Personal Loan: Best for Good credit
- Upgrade: Best for Best overall
- LightStream: Best for Low rates
- Happy Money: Best for Paying off credit card debt
- Achieve Personal Loans: Best for Rate discounts
- Best Egg: Best for Secured loan option
- Universal Credit: Best for Bad credit
- LendingClub: Best for Joint loan option
- Discover® Personal Loans: Best for Fast funding
- PNC Bank Personal Loan: Best for Bank loans