Best Debt Consolidation Loans – If you are looking for the best way to reduce your monthly debt payments and interest charges or organize payments, debt consolidation is the perfect way to do so. In this article, we will be providing you with the best debt consolidation loan platforms that you can use.
Debt consolidation loans, as the name implies, refer to loans taken out to pay off other existing debt or credit cards. By getting this loan, you can cover your debts even at lower interest rates and monthly payments. However, the majority of the platforms that offer them require you to have a high credit score.
So, if you have a good credit score and you want to get a debt consolidation loan, picking the best is very necessary. Here, we will be providing you with 10 of the best of them to make your search easier. Therefore, I implore you to read on to discover the best.
10 Best Debt Consolidation Loans
Here are the 10 best debt consolidation loans that you can apply for if you are looking for the best way to pay off your loans or debts:
If you are looking for the best debt consolidation loan to apply for but have a bad credit score, Universal Credit is a good place to use.
They are famous for their rate discounts and fast funding. What’s more, their loan amount ranges from $1,000 to $50,000, and you need to have a minimum credit score of 560.
PNC Bank Personal Loan
The PNC Bank personal loan is one of the best debt consolidation loans. With this loan app, you do not need to have a minimum credit score to apply for a loan at this company.
However, people with any credit score are eligible to apply for a debt consolidation loan at PNC Bank Personal Loan. The loan amount also ranges from $1,000 to $35,000.
LendingClub is one of the most popular loan providers in the United States. They are also popular for their peer-to-peer lending and were founded in 2007.
LendingClub is the largest online lending platform, and its loan services are perfect. Applicants can enjoy flexible payments, but they need to have a credit score of 600.
You can also borrow up to $40,000 from LendingClub and repay it in a way that benefits both you and the lending company.
Are you looking for the best-secured loan option? Check out Best Egg. This loan company has a lot of secured loans and a wide range of loan amounts.
So, if you are interested, then you can visit the company’s official website. But you need to make sure that you meet the eligibility criteria if you want to secure a loan from Best Egg.
Achieve Personal Loans
Another loan company on the list of 10 debt consolidation loans is Achieve Personal Loans. They have a lot of good reviews, and they are popular for their rate discounts.
However, if you would like to secure a loan from Achieve Personal Loans, you need to have a credit score of 620. Equally important, you can apply for loans ranging from $5,000 to $50,000.
Happy Money is another place you can consider if you are looking to pay your credit card debts. They are also quite popular for their fast-funding services.
What’s more, this loan-providing company offers flexible repayment terms for their borrowers. But you will need a credit score of about 640.
If you would like to enjoy low rates, then I suggest that you pick LightStream. They have a lot of positive reviews online from new and existing customers.
However, to apply for a loan from LightStream, you need to have a minimum credit score of 660. Also, you can only borrow $5,000 to $100,000.
One unique thing about it is that LightStream is very fast when it comes to approving funding, and they have low competitive rates.
Discover Personal Loans
Discover is one of the best places to apply for personal loans for debt consolidation. They are fast when it comes to approving loans and disbursing them. So, you don’t have to wait for so long.
However, if you apply for a loan from this company and repay it within 30 days, you will not have to pay the interest. But your minimum credit score should be 660 and above.
Upgrade is the overall best debt consolidation loan to apply for. To apply, you need to have a credit score of 560. They also offer their applicants access to loans of up to $50,000 and interest rate discounts as well.
SoFi is another debt consolidation loan provider in the United States. They are well-known for their rate discounts, no-fee services, and large loan amounts.
The loan range SoFi offers ranges from $5,000 to $100,000, and you do not need to have a certain credit score to apply for a debt consolidation loan.
Is Taking Debt Consolidation Loan A Good Idea?
You might be wondering if debt consolidation is a good idea. Well, it is, but only if you have a good financial plan, enough cash flow, and a good credit score.