Debt consolidation loans with low, fixed rates

• Loans up to $50,000
• Affordable monthly payments
• No prepayment fees
• Fast funding

Why consolidate your debt with a personal loan?

Take control

Streamline multiple debt payments into a single monthly payment.

Lower your rate

Eliminate high-interest debt and credit card payments with a lower rate.

No surprises

Get a fixed interest rate that won’t ever change. Have confidence in what you'll pay each month.

Get out of debt faster

A debt consolidation loan will give you a clear payoff date that you can circle on your calendar.

It's quick and easy to apply for a personal loan online

Check your rate

Apply online in minutes and see your rate with no obligation or impact to your credit score.

Choose your personal loan

Review multiple loan options and decide which offer is best.

Fast funding

Accept your loan offer and you should get your money within a day of clearing necessary verifications.

Debt consolidation personal loans are flexible & customizable

Select an offer

Choose your monthly payment that won't ever change and fits your budget.

Fixed rate & term

Pick terms that fit your timeline.

A simple breakdown of a personal loan

Get to know the rates, fees, and your payback plan.

If you're approved for a $10,000 loan with a 17.98% APR and 36-month term...

Your APR

The 17.98% APR includes:

• 14.32% yearly interest rate
• 5% one-time origination fee ($500)

Your money

You would get $9,500 deposited directly in your account. $10,000 - $500 = $9,500

Your payments

And, each month you would pay back $343.33 over 36 months.

Debt Consolidation FAQs

How much debt can I consolidate with a loan through Upgrade?

With a personal loan through Upgrade, you can borrow $1,000 to $50,000. Funds are sent directly to the account that you choose within a day of clearing necessary verifications.

What if I want to pay off my loan quicker?

You can make additional payments on your loan at any time without any prepayment fees.

Why choose a personal loan through Upgrade to help me consolidate my debt?

A personal loan through Upgrade is a good option for high-interest debt consolidation because it offers:

• A fixed-interest rate that won’t change
• A clear payoff date to add to your timeline
• Fast funding so you can take action right away

How does debt consolidation work?

Debt consolidation allows you to combine multiple credit card debts and/or personal loan payments into one monthly payment. You’ll make a single monthly payment instead of one for each credit card and loan. You’ll also have a date when you’ll be debt free - for example, if you get a loan with a 36 month term, you’ll know that your debts will be paid off in 36 months. Lastly, personal loans through Upgrade offer fixed interest rates. This means your interest rate will never go up, you can easily predict how much you’ll pay each month, and you may save on interest over time!

How does using a personal loan from Upgrade to pay off debt work?

Upgrade’s Debt Payoff option helps you consolidate debt by using your personal loan to pay off credit cards or existing personal loans directly. The option may appear when checking your rate with Upgrade.

If approved, you can choose which debts to pay and how much of your loan should go toward each. Upgrade then sends the funds to your creditors, making the debt consolidation process simple and automated.

What's the difference between consolidating credit card debt with a personal loan and a balance transfer?

A balance transfer happens when you move debt from one account to another. This can help you lower your interest rate, but it has a few downsides. For one, you’ll typically be charged a balance transfer fee between 3-5% of the amount transferred. You may also have a low balance transfer card limit, which will keep you from transferring your full balance. Additionally, you won’t be able to transfer a balance from the same issuer. And since you’re transferring one credit card balance to another, you may still deal with variable interest rates that can cost you more money over time.

On the other hand, a personal loan gives you a fixed interest rate and a set date when you’ll have paid off your debt.

How will consolidating my debt affect my credit score?

Consolidating debt with a personal loan increases your available credit. If the amount of credit you're using stays consistent and your available credit increases, your credit utilization ratio will be lower. This can help increase your credit score.

Additionally, if you make payments on your new personal loan on time, you’ll improve your payment history. Payment history is the biggest factor behind your credit score.