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BEST OF

Top 5 Credit Card Debt Consolidation Companies 2024

We analyzed dozens of lenders and listed the five best credit card debt consolidation companies here to help you make an informed decision.
Deane Biermeier

Updated as of 5/21/2024

Obtaining a credit card consolidation loan 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.
Why trust Trusted Company Reviews
  • 5 Debt Consolidation Companies reviewed and scored by our team of experts.
  • Industry experts covering and reviewing personal financial topics.
  • Comprehensive review rating system.
  • We work closely with consumers and experts to create editorial ratings.

Our process aggregates a company or product’s market share, reputation, service, values, consumer interest, pricing, fees and features to generate a fair rating and comprehensive review. Some of our Trusted Experts who write reviews have appeared in U.S. News & World Report, Forbes, Angi.com and many other publications.

Why we love it 💖

Accredited™ is more than just a highly-rated debt consolidation organization; it can potentially be a game-changer in your financial journey. The company not only helps you consolidate debt to a lower payment, but it could also help reduce the total amount of debt owed.

Advertiser Disclosure

Trustedcompanyreviews.com offers free content, reviews and ratings for consumers to read, aimed at helping them compare their options. We may receive advertising compensation from companies featured on our website, influencing the positioning and sequence in which brands (and/or their products) are displayed, as well as affecting the assigned ratings. Please note that the inclusion of company listings on this page does not constitute an endorsement. We do not feature all available providers in the market. With the exception of what is explicitly outlined in our Terms of Service, we disclaim all representations and warranties regarding the information presented on this page. The details, including pricing, displayed on this site may undergo changes at any time.

Our Highest Rated Debt Consolidation Companies

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1

Our Top Pick
9.8 Excellent

Editor Top Pick Badge
  • TCR Editor’s #1 Pick
  • Lower Monthly Payment
  • No Credit Score Required
  • Loan Options Available
  • A+ Rating with BBB
Credible Logo

2

9.2 Great

  • Compare Rates for Free
  • Loans up to $200,000
  • Receive funds as soon as tomorrow*
LendingTree Logo

3

NMLS #1136
8.4 Very Good

  • Minimum Credit Score: 600
  • Soft Credit Check To Pre-Qualify
  • Home Equity Credit Options Available
Lending Club logo

4

7.8 Good

  • Loans Funded In One Week
  • Get A Lower Rate With A Co-Borrower
  • 3- 5 years term and $1,000- $40,000

Via Credible.com’s Website

upstart logo

5

7.4 Good

  • No Minimum Credit Score
  • Soft Credit Check To Pre-Qualify
  • Get Funding In One Day

Benefits of Credit Card Debt Consolidation

Credit Card debt consolidation allows you to combine numerous obligations into one, more manageable credit card 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, a credit card consolidation loan 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.

Frequently Asked Questions

Does debt consolidation work?

A credit card debt consolidation loan 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..
*Loans typically fund between one and five business days depending on the lending partner and your application.
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9.8

Excellent