Independent, clearly explained guides to US personal finance
6 lenders · editor's ranking
A debt consolidation loan replaces several high-interest balances with one fixed payment and a clear payoff date. It saves money only if the new APR — including any origination fee — is lower than what you're paying now.
For this list we favored lenders that pay your creditors directly (one less step, and sometimes a lower rate), offer rate discounts, and give enough flexibility on term length to keep the payment manageable.
Lender terms last reviewed October 23, 2026
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| Lender | Best for | APR | Amount | Action |
|---|---|---|---|---|
| 1Upgrade | Best overall for consolidation | 7.74%–35.99% | $1,000–$50,000 | Visit site at Upgrade (opens in a new tab) |
| 2Happen Bank | Best Direct Pay discount | 5.96%–35.99% | $1,000–$75,000 | Visit site at Happen Bank (opens in a new tab) |
| 3LightStream | Best for excellent credit | 7.24%–24.89% | $5,000–$100,000 | Visit site at LightStream (opens in a new tab) |
| 4SoFi | Best for large balances | 6.99%–35.49% | $5,000–$100,000 | Visit site at SoFi (opens in a new tab) |
| 5PenFed Credit Union | Lowest maximum APR | 6.74%–17.99% | $600–$50,000 | Visit site at PenFed Credit Union (opens in a new tab) |
| 6Best Egg | Best for homeowners | 8.99%–35.99% | $2,000–$50,000 | Visit site at Best Egg (opens in a new tab) |
Can send funds straight to your creditors, which may also qualify you for a lower APR.
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Choosing Direct Pay to creditors can cut your APR by 0.50 percentage points.
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No origination fee means every dollar goes to paying off your balances.
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Consolidate up to $100,000 with AutoPay and member rate discounts.
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A ceiling below 18% limits the downside for borrowers with good credit.
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The secured option can lower your rate if you own your home.
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How we compare lenders
We review each lender's published terms and compare them on the four things that matter most to borrowers. Rankings are editorial: partners can't pay for a better position, and any sponsored link is labelled. Lender terms change often, so we show the date each lender was last reviewed.
Published APR range, origination and other fees, and any AutoPay or Direct Pay discounts.
Loan amounts and term lengths, and whether secured or joint options are available.
Which credit profiles a lender serves, and whether you can check your rate with a soft pull.
How quickly funds arrive after approval, and borrower-friendly features like paying creditors directly.
Quick answers
Applying causes a small, temporary dip from the hard inquiry. Over time, paying down revolving card balances and making on-time installment payments often helps your score.
Usually not. Closing cards can raise your credit utilization and shorten your credit history. Many people keep them open with a zero balance and put them away.
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APR ranges, fees and terms are as published by each lender and were last reviewed on the date shown. They can change at any time and may vary by state. Your rate depends on your credit profile. This page is general information, not financial advice.
Before you borrow