Consolidate Your
Credit Cards
Check your rate in minutes
Won’t affect your credit score
Save Interest on Your Credit Card
Loans from $1,000 – $150,000§ | 3 & 5 year terms‡ | 2.92% – 35.99%‡
Fixed Rate
No teaser rates – your monthly payment is always the same.
Clear Pay-Off Date
3 or 5 year terms give you a line of sight to paying off your debt.
Save Money
56% lower rates than traditional models.*
Fast and Easy Process
Get funded in as fast as 1 business day after accepting your loan.**
loans for any occasion
CREDIT CARD CONSOLIDATIONS FAQs
What is a credit card consolidation loan?
A credit card consolidation loan is a personal loan you can use to pay off balances on your credit cards. Once your credit card balances are at zero, you can focus on making just one monthly payment on the loan. The interest rates for your consolidation loan, if lower than your those of your cards, may result in less interest paid over time. This could save you money and help you pay off your debt faster.
What are the advantages of credit card consolidation?
There are many benefits to credit card consolidation. Often, interest rates on a fixed-rate, installment loan will be lower than those of your credit cards which helps save money. Additionally, you can focus on making one payment per month instead of keeping track of multiple cards with different due dates. Lastly, you’ll have a known pay-off date. If you make all of the scheduled payments on your credit card consolidation loan, your loan will be completely paid off by that date.
What are some of my other options?
How do I get a credit card consolidation loan?
You can apply for a credit card consolidation loan easily online by submitting details about your income and education history. If eligible, you’ll see an array of offers with different APRs, terms, and monthly payments.
What will getting a credit card consolidation loan do to my credit score?
When you check your rate, we check your credit report. This initial (soft) inquiry will not affect your credit score.†† If you accept your rate and proceed with your application, we do another (hard) credit inquiry that will impact your credit score. Your credit score will only be affected when you submit an application for credit and choose to accept the loan. If you take out a loan, repayment information will be reported to the credit bureaus
After I'm approved, how long does it take to get the money?
A credit card consolidation loan offers you the convenience of getting your money fast. Funding can happen in as soon as one business day of accepting the loan so you can pay off your high-interest credit cards immediately.**
In the long run, a personal loan may help your credit score if you make consistent, on-time payments.
†† When you check your rate, we check your credit report. This initial (soft) inquiry will not affect your credit score. If you accept your rate and proceed with your application, we do another (hard) credit inquiry that will impact your credit score. If you take out a loan, repayment information will be reported to the credit bureaus.
§ Your loan amount will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will qualify for the full amount. The minimum loan amount in MA is $7,000. The minimum loan amount in Ohio is $6,000. The minimum loan amount in NM is $5,100. The minimum loan amount in GA is $3,100.
‡ The full range of available rates varies by state. The average 3-year loan offered across all lenders using the eFund123 Platform will have an APR of 25.79 and 36 monthly payments of 37 per $1,000 borrowed. There is no down payment and no prepayment penalty. Average APR is calculated based on 3-year rates offered in the last 1 month. Your loan amount will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved.
* As reported by the Consumer Financial Protection Bureau, based on an internal eFund123 study which compares outcomes from eFund123’s underwriting and pricing model against outcomes from a hypothetical model that uses traditional application and credit file variables and does not employ machine learning (traditional lending model).
** If you accept your loan by 5pm EST (not including weekends or holidays), you will receive your funds the next business day. Loans used to fund education related expenses are subject to a 3 business day wait period between loan acceptance and funding in accordance with federal law.