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Top 5 Credit Card Debt Consolidation Companies 2024

Applying for a credit card debt consolidation loan is a big step. Obtaining a personal or other type of loan to pay off credit card debt can be both refreshing and stressful. While refinancing credit card debt with a consolidation loan can provide a sense of relief, there are also risks involved.

Deane Biermeier
Home and Financial Expert
9.8 Excellent

“Accredited is a TCR Editor Top Pick and has earned an excellent rating because of their proven results, exceptional customer service, and affordability.”

  • TCR Editor’s #1 pick
  • No credit score required
  • 1-on-1 expert help available
  • Reduce monthly payment
Read Full Review
  • Table of Contents

2024’s Most Trusted Companies to Consolidate Credit Card Debt

Applying for a credit card debt consolidation loan is a big step. While refinancing credit card debt with a consolidation loan can provide a sense of relief, there are also risks involved.

2024’s Most Trusted Companies to Consolidate Credit Card Debt
Creating a strategy to pay off credit card debt is challenging. Making multiple high payments each month and facing ever-rising high interest, increasing how long it takes to pay off cards, can limit your ability to take control of your finances.

Taking the time to evaluate methods of consolidating your credit card debt can pay off big. The first hurdle is learning about your options and choosing the best method for your peace of mind.

Moving towards consolidation with a trusted credit card debt consolidation lender can lower monthly payments faster, essentially reduce high credit card interest rates, potentially save money, reduce your number of monthly payments, and generally help create a stress-free path to financial freedom.

But, choosing the best debt consolidation lender from the many companies available and vying for your business can be daunting. To that end, we analyzed dozens of lenders and listed the five best credit card debt consolidation companies here. We’ve also included information designed to help you make an educated decision.

Last Updated: April 9, 2024
Best Overall
9.8 Excellent

  • Loan options available
  • A+ rating with BBB
  • Minimum required debt is $7,500
9.2 Great

  • Compare loan offers before choosing
  • Best-rate guarantee
  • Borrow up to $100,000
8.4 Very Good

  • Numerous lenders to choose from
  • Pre-qualify for best loan options
  • Credit card debt consolidation marketplace
7.8 Good

  • Low credit score requirements
  • Funding within one week
  • Co-borrowers welcome
7.4 Good

  • Pre-qualify with soft credit check only
  • Funding available in one day
  • 50-state availability

1. Our Top Pick for March 2024: Accredited Debt Consolidation

Trusted Company Reviews Rating Score: 9.8

Minimum Debt Required $7,500
Payment Term  12 to 48 months
Total Estimated Savings (includes fees and is based on a $10,000/36-month payment term) $2500
Year Business Founded 2011
BBB Rating / Grade 4.73 / A+

Accredited Debt Consolidation* TCR Editor’s #1 pick

  • Lower monthly payment
  • No credit score required
  • Loan options available
  • A+ rating with BBB
  • 1-on-1 expert help available

Why We Chose Accredited

Accredited is the largest debt consolidation company in the nation and has the best customer reviews and ratings. It’s easy to qualify and enroll in the Accredited debt consolidation program. You pay no up-front fees and can save more money on this plan compared to the cost of other credit card debt consolidation loans. Additionally, Accredited offers the most flexible payment options, allowing you to choose a more comfortable monthly payment. Bad credit? There are no credit score restrictions or requirements to qualify.

Accredited is highly rated with a 4.73 of five stars at the Better Business Bureau (BBB), where it carries an A+ grade. Accredited offers no-cost expert consultations to help you better understand if its services are right for your situation. However, a program fee does apply, and using Accredited’s service may impact your overall credit score.

Accredited Pros and Cons


  • Expert consultations are available
  • No upfront fees
  • Credit score not required to qualify
  • Most flexible payment options
  • Highest customer ratings
  • Best savings


  • Only available in 30 states
  • Creditors are not paid monthly

Read Full Review

2. Best Financial Partners Selection: Credible

Credible credit card debt consolidation and personal loan reviews from both customers and experts are excellent. The company enjoys high ratings from sources like the Better Business Bureau (BBB) and multiple regulatory agencies.

Trusted Company Reviews Rating Score: 9.2

Loan Amounts $600 – $100,000
Loan Length 12 to 84 months
Interest Rates 4.60% – 35.99%
Fees $0 upfront costs
Year Founded 2012
BBB Rating / Grade 1.29 / A+

Credible Debt Consolidation

  • Shop consolidation rates for free
  • Up to $100,000 consolidation loans
  • Next-day funding possible
  • High consumer ratings
  • Works with 20 lending partners
  • Pre-approval won’t affect credit score

Why We Chose Credible

Credible is an online lending platform that connects one of its 20 partner institutions with borrowers. Because of that diversity, Credible can offer some features that individual lending companies may not be able to match. Credit card consolidation repayment terms of up to 84 months, a wide range of interest rates, a high lending dollar amount in some cases, and zero upfront costs are a few such perks.

The company also offers a best-rate guarantee stating that Credible will credit customers $200 if they come across a better deal. While Credible enjoys high average consumer ratings, it does score a bit low at the BBB. However, the company earns an A+ grade for its responsiveness to customer issues.

Credible Pros and Cons


  • $200 best-rate guarantee
  • Compare loan offers side-by-side before choosing
  • High borrowing limit
  • Excellent student loan refinancing plan
  • High average review scores


  • Pre-qualification isn’t automatic approval
  • Can only work with business partner lenders
  • Loan origination fees may apply with some lenders

Read Full Review

3. Best Multiple Lender Platform: LendingTree

LendingTree is an online lending marketplace that matches potential lenders and loan offers to consumers with debt consolidation needs. The company also provides several other borrowing options and financial services.

Trusted Company Reviews Rating Score: 8.4

Loan Amounts $1,000 to $50,000
Loan Terms 12 to 144 months
Interest Rates 6.20% – 35.99%
Origination Fees 0% to 8%
Year Founded 1996
BBB Rating / Grade 1.15 / A+

LendingTree Debt Consolidation

  • Online credit card debt consolidation loan marketplace
  • Partners with over 500 lending companies
  • Pre-qualify with multiple lenders
  • Choose the best lender option for your needs
  • Informative and helpful company website
  • Mobile app available

Why We Chose LendingTree

LendingTree stands out among lenders due to its approach to matching consumers to lending institutions that best fit their needs. Persons interested in consolidating their credit card debts can input financial and personal information into LendingTree’s online form and choose from multiple lenders and loan options if they qualify.

We chose LendingTree because of its ability to serve a wide range of consumers with varying needs and in various financial situations. LendingTree can provide this wide range of options due to its large network of over 500 lending providers, including small and large institutions and some peer-to-peer organizations.

LendingTree Debt Consolidation Pros and Cons


  • Credit score remains unaffected by prequalification
  • Low, $1,000 borrowing minimum
  • Wide range of loan terms from 1 to 12 years
  • Other lending and services are also available
  • No early payment penalties
  • Rate’s as low as 5.2% possible


  • Maximum borrowing amount is $50,000
  • High possible interest rates of nearly 36%
  • Some mediocre to low consumer review scores

Read Full Review

4. Best for Joint Borrowers: LendingClub Loans

“LendingClub offers personal and debt consolidation loans for borrowers with fair credit scores above 600. In our assessment, LendingClub stands as a reputable lender with a valid banking license, instilling confidence in consumers seeking financial solutions.”

Trusted Company Reviews Rating Score: 7.8

Loan Amounts $1,000 to $40,000
Loan Terms 24 to 60 months
Interest Rates 6.34% – 35.89%
Fees 1% – 8%
Year Founded 2006
BBB Rating / Grade 4.54 / A+

LendingClub Debt Consolidation Loans

  • Low minimum credit score requirements
  • Credit card refinancing loans funded within one week
  • Also offers full-service banking and investing
  • Flexible payment dates
  • Lower rates available with co-borrower

Why We Chose LendingClub

Lendingclub customers can enjoy a full suite of banking and investing options in addition to consolidating credit card debts and obtaining personal loans. The company provides credit card debt consolidation loans with perks like soft credit checks to prequalify and direct payments to lenders. However, as a full-fledged banking institution, it welcomes co-borrowers and offers extras like investment tools and online banking.

LendingClub enjoys high consumer rankings and star ratings, including an A+ grade and 4.54 stars at the BBB. While the maximum loan amount of $40,000 is a bit lower than its competitors, it does have a low entry dollar amount of just $1,000. Customers can apply with credit scores starting at 600.

LendingClub Pros and Cons


  • Full-service banking and investing available
  • High consumer ratings
  • Available in all 50 states
  • Low minimum credit score
  • Direct payments to creditors
  • Low minimum loan amount


  • Can take up to a week to access funds
  • Smartphone app not available
  • Low maximum loan amount

Read Full Review

5. Best for Bad Credit: Upstart

“Upstart offers fast loan options for borrowers with lower credit scores but does not have a mobile app.”

Trusted Company Reviews Rating Score: 7.4

Loan Amounts $1,000 to $50,000
Loan Terms 36 or 60 months
Interest Rates 5.39% – 35.99%
Fees 0% – 12% of initial amount
Year Founded 2012
BBB Rating / Grade 1.24 / A+

Upstart Debt Consolidation

  • No minimum credit score necessary
  • Pre-qualify without affecting credit score
  • One-day funding available
  • Uses non-traditional lending qualification method
  • Available in all 50 states

Why We Chose Upstart

Getting credit card debt under control can be challenging for those with short credit histories or a bad credit score. That’s where Upstart may prove valuable. Upstart is an online company that connects lending institutions to borrowers. Loans are available for credit card debt consolidation or almost anything else necessary. The company uses a non-traditional method to determine creditworthiness using artificial intelligence technology.

While your credit score, if you have one, plays a small role, Upstart’s AI tech considers multiple scoring factors outside of that metric to anticipate your ability to repay a loan. Things like employment history and other personal and financial records can play a more significant role in qualifying borrowers.

Upstart debt consolidation loans feature fixed rates and direct payments to lenders and have repayment terms of 36 and 60 months.

Upstart Pros and Cons


  • Borrowers with no credit history or bad credit may qualify
  • Choose payment dates
  • No penalty for early payment
  • Funding available in one business day


  • Mobile app not available
  • Only two repayment length options
  • Cosigners not allowed

Read Full Review

What is a Credit Card Debt Consolidation loan?

A credit card debt consolidation loan, similar to a personal loan, is an unsecured loan from a single lender. However, it combines your credit card debt into one account with a single payment designed to be more affordable than multiple payments.

Credit card debt consolidation loans essentially combine multiple high-interest credit card payments into a single loan with a fixed rate and predetermined monthly payment.

The lender offering the debt consolidation loan may pay your credit card lenders directly or provide the funds for you to make the payments. Either way, a debt consolidation loan essentially pays off your credit card debts in exchange for a single loan.

Understanding Credit Card Debt

According to an Experian study, the average credit card debt in the U.S. was $6,501 in 2023, representing at least a 10% increase from the prior year. If you’re looking for ways to control debt, pay off accounts, or get help getting out of credit card debt, you’re not alone.

Credit card debt is quite different from secured debts, such as mortgages or car loans. It’s basically an unsecured line of revolving credit, meaning consumers can borrow up to a specified amount over and over as long as the amount they pay each month is enough to keep the account open and the maximum borrowing limit is higher than the balance.

Unlike fixed-payment loans that close when the balance is paid off, credit cards have variable payments based on the balance and interest rate, and the account remains open if the balance is zero.

Credit card lenders require the borrower to make minimum monthly payments determined by the total balance. The minimum payments generally equal 1% to 3% of the total balance. That fact means paying down credit card debt takes many years by paying only the minimum amount due.

Customers who carry a low balance or pay off their credit card balance each month avoid or significantly reduce the amount of interest owed.

Dangers of Credit Card Debt

While using credit cards as a financial tool can be beneficial for things like receiving various cash-back and other perks, the nature of credit cards and how they work can pose trouble for some borrowers.

The low minimum payment requirements and general ease of being approved for some credit cards can give borrowers a sense of the availability of free, or at least easy, money. Additionally, because unsecured credit cards don’t require collateral, not making payments on time can appear to have little consequence.

However, the low payment availability and apparent lack of immediate consequences are false. In reality, making only the minimum payments while accruing more debt and more credit cards can eventually lead to being too far in debt to make even the minimum payments.

Also, credit card lenders report to all major credit bureaus in the case of delinquencies. While not paying on time may not get your possessions repossessed, it can quickly and significantly hurt your credit score.

As credit card balances increase, the total interest due also increases. The Consumer Financial Protection Bureau states that the average credit card interest rate is now 22.8%. That’s up from 12.9% just ten years ago. Some borrowers pay credit card interest rates over 35%.

Benefits of Credit Card Debt Consolidation

Debt consolidation allows you to combine numerous credit card debt obligations into one, more manageable loan and streamlines the repayment process for high-interest debt. This can potentially save you money by paying less interest in the long term.

Additionally, debt consolidation usually includes lower monthly payments and a repayment plan that pays off credit cards faster than you could on your own.

Low-Stress, Monthly Payments

Merging your credit card debts reduces the number of payments, due dates, and account logins you must remember. Less to manage every month will lower your stress levels and help you take control of debt.

A Manageable Timeline

Most credit card debt consolidation programs create a custom payment plan with a target payoff date. Seeing your progress as you move toward the finish line will motivate you to keep going.

Reduced Interest and Fees

The best credit card debt consolidation companies will help you resolve your debt for a lower overall interest rate. You can save on month-to-month payments and costly fees and avoid having too many monthly payments as a bonus.

Is Consolidating Credit Card Debt a Good Idea?

Combining your high-interest credit card debts into a single loan comes with plenty of benefits.

  • If you struggle to keep up with your debts, consolidation could make the repayment process less overwhelming.
  • Debt consolidation is a straightforward process that is easy to follow and complete when you work with a trusted company.
  • One of our top-rated companies could be right for you if you would benefit from low-stress monthly payments, a manageable repayment timeline, and substantial savings on the overall amount of credit card debt repaid.

However, it’s not for everyone. Obtaining a debt consolidation loan comes with some risks that some borrowers may not be willing to take.

  • Credit card debt consolidation can free up revolving credit that can allow consumers to create more debt.
  • Consolidation loans aren’t free and could include origination fees and, in some cases, less interest savings than expected.

Does Credit Card Debt Consolidation Hurt Your Credit?

Debt consolidation in and of itself doesn’t hurt your credit. However, several associated things could.

  • Applying for final approval draws a hard inquiry on your credit report, negatively affecting your credit score at the outset.
  • Freeing up unused credit on revolving credit cards can be dangerous and lead to further debt.
  • Missing the single, larger payment will negatively affect your credit score.

How to Consolidate Credit Card Debt

Credit card debt consolidation can be done in a couple of ways. Credit card balance transfers often provide a reduced interest rate on transferred balances for a pre-determined period. These transfers can lower your overall interest rate. However, interest will apply after a specified number of months.

The best way to pay off credit card debt is to consider consolidating debt with a top-rated debt consolidation company. A debt consolidation loan is a simpler approach to consolidating unsecured or revolving interest debt.

Many online lenders offer a prequalification opportunity that uses a soft inquiry on your credit report that doesn’t affect your score. This step is sometimes enough to see if debt consolidation through a lender is possible before committing to a hard inquiry and loan.

How to Consolidate Credit Card Debt with Bad Credit

Consolidating credit card debt with poor credit or a credit history with delinquencies is the same as prequalifying and then seeking loan approval from a typical creditor. However, consumers with bad credit will have more limited options in lender choice and may pay a higher origination fee or interest rate over the length of the loan. Seek a lender that offers to work with poor credit or a damaged credit history for the best approval chances.

Pros and Cons of Credit Card Debt Consolidation

Applying for and accepting a debt consolidation loan to cover high-interest credit card debts has both benefits and drawbacks to consider before committing to a lender.


  • Simplify finances by reducing multiple credit card payments to just one.
  • Often includes a lower overall interest rate, saving you money over having multiple smaller credit card payments.
  • Potentially decreases the length of repayment time
  • One fixed payment can be easier to budget than having multiple credit card payments
  • Debt consolidation can ultimately increase your credit score over time


  • Origination fees add to your overall debt amount
  • Freeing up revolving credit can be a dangerous trap for some borrowers.
  • Applying will include a hard inquiry on your credit report, initially lowering your score.
  • Missing payments can incur late fees and negatively affect your credit score.

Is Credit Card Debt Consolidation Right for Me?

Consolidating revolving credit card debt into a single loan is a big commitment. Talking with a debt counselor or financial expert can provide insight into whether or not debt consolidation is right for you. However, debt consolidation can be very beneficial after considering the pros, cons, and other factors.

Debt Consolidation Financial Requirements

The lender you choose or the company you use to help find you a lender will have their own rules for the financial requirements customers must meet. Typical qualifiers include having a credit score or other determining factors that establish creditworthiness, having an income, and proving an appropriate income-to-debt ratio.

Debt Consolidation Credit Score Requirments

Every lender determines its own risk exposure in terms of minimum credit score requirements. Some of the best credit card debt consolidation companies allow lending to individuals with credit scores below 600 or to those with little or no credit history. However, many lenders require credit scores in the mid-600s and up.

Credit Card Debt Consolidation Interest Rates and Information

Interest rates for debt consolidation loans vary widely from about 7% to nearly 36%. The average loan interest rate for debt consolidation is between 16% and 21%. The amount of interest borrowers pay is determined by their credit score, income-to-debt ratio, employment status, and other factors.

Borrowers with excellent credit scores can expect to pay near the low end of the average interest rates, while those with scores under 600 could pay similar interest to what they’re already paying on their credit cards.

How to Choose a Debt Consolidation Company

Choosing a credit card debt consolidation company involves directly comparing your potential lenders against one another. Online reviews and the experience of acquaintances describing their experience can also be highly beneficial.

Accredited Credible  LendingTree LendingClub Upstart
Loan Amounts $7,500 minimum $600 – $100,000 $1,000 to $50,000 $1,000 to $40,000 $1,000 to $50,000
Loan Terms 12 to 48 months 12 to 84 months 12 to 144 months 24 to 60 months 36 or 60 months
Interest Rates n/a 4.60% – 35.99% 6.20% – 35.99% 6.34% – 35.89% 5.39% – 35.99%
Fees 15% – 25% $0 upfront costs 0% – 8% 1% – 8% 0% – 12% of initial amount
Year Founded 2011 2012 1996 2006 2012
BBB Rating / Grade 4.73 / A+ 1.29 / A+ 1.15 / A+ 4.54 / A+ 1.24 / A+

Understanding Loan Rates

  1. Credible – Rates for personal loans provided by Credible range from 4.60% to 35.99% APR with repayment terms from 24 to 84 months.
  2. LendingTree – Rates for personal loans provided by LendingTree range from 5.99% to 35.99% APR, with repayment terms from 36 to 60 months.
  3. LendingClub – Rates for personal loans provided by LendingClub range from 6.34% to 35.89% APR, with repayment terms from 36 to 60 months.
  4. Upstart – Rates for personal loans provided by Upstart range from 5.40% to 35.99% APR, with repayment terms from 36 to 60 months.

Personal loan offers provided by the lenders on this page will have a rate no higher than 35.99%, with repayment terms ranging from 36 to 84 months. The actual rate depends on credit score, loan term, and other factors. Please visit the lender’s website for a representative example of the total cost of the loan, including all applicable fees.

A representative loan example: For a $10,000 personal loan with a 36-month repayment term, 18.49% APR (including a 5% origination fee), you would receive $9,500, and your required monthly payments would be $346.65. Over the life of the loan, you would pay back a total of $12,479.52. The APR for your loan may be higher or lower than this amount. The actual rate depends on credit score, loan term, and other factors. Please visit the lender’s website for a representative example of the total cost of the loan, including all applicable fees.

Frequently Asked Questions

These are some of the most common questions surrounding credit card debt consolidation

Does debt consolidation work?

Credit card debt consolidation offers benefits like speeding up the repayment period, potentially reducing interest rates, simplifying monthly bill paying, and other perks. For those reasons, debt consolidation can work well, provided the consumer doesn’t fall into the trap of generating substantial additional credit card debt while repaying the loan.

What is a debt consolidation loan?

A debt consolidation loan essentially pays off your existing debts and combines the total amount owed into a single loan. Often, debt consolidation can mean paying lower interest rates over a reduced repayment period.

Can I still use my credit card after debt consolidation?

If you keep your credit card accounts open after debt consolidation, you can still use them after the transaction. However, caution is recommended to watch out for overspending.

What's the difference between credit card refinancing vs debt consolidation?

Debt consolidation means trading several debt accounts for a single unified loan and payment. Credit card refinancing involves taking advantage of reduced interest offers for balance transfers from a different lender. Both are designed to reduce overall costs. However, debt consolidation is more structured than credit card refinancing might end up being.

Is credit card debt consolidation worth it?

If you discover you can save money in the long term with debt consolidation and can avoid the overspending trap, debt consolidation can offer more pros than cons and ultimately be worth the extra effort.

Is debt consolidation better than bankruptcy?

Credit card debt consolidation that doesn’t involve negotiating the amount of debt you owe can increase a credit score over time. Bankruptcy will always reduce a credit score, with effects that can last for several years.