Consolidation only works if the math works: the loan's APR has to beat what your cards are charging by enough to cover any fees. We compared consolidation lenders on the numbers that decide that — APR ranges, origination fees, rate discounts, and whether the lender pays your creditors directly so the payoff actually happens.
Direct creditor payment means the lender wires payoff funds straight to your card issuers — the single best protection against the classic consolidation failure of spending the loan instead of paying off the debt.
| Lender | Best for | Loan amounts | APR range | Origination fee | Pays creditors directly | Min. score |
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Enter your current card situation and the loan offer you expect. We'll run both paths to the last dollar — if consolidation doesn't win, this calculator will tell you that too.
A consolidation loan doesn't reduce your debt by a single dollar. It reorganizes it. Whether that reorganization saves you thousands or digs the hole deeper depends on what happens next.
For consolidation, cost dominates our weighting — the entire point of the product is paying less interest than you're paying now — followed by the features that make the payoff actually happen.
APR range, origination fees, late fees, prepayment penalties, and the realistic rate a mid-score applicant sees — not just the advertised floor.
Direct payment to creditors, rate discounts for direct pay or autopay, and balance-transfer-style payoff workflows.
Minimum credit score, income requirements, co-borrower options, and soft-pull prequalification.
Amount ranges that cover real card debts, term choices short enough to save and long enough to afford.
Clear disclosure of rates and fees before a hard pull, and credit bureau reporting on payment history.
Ratings reflect published lender terms and our editorial judgment. Partner compensation affects placement, never scores.
The sequence below protects the two things that decide whether consolidation succeeds: the rate you lock in, and what happens to the cards afterward.
Cards, store cards, medical financing, old personal loans. Your weighted average APR is the number the new loan has to beat — most people are surprised how high it is.
Consolidation rates vary enormously between lenders for the same applicant. Prequalifying costs nothing, doesn't touch your score, and is where most of the savings are actually won.
Add total interest plus origination fee over the full term. A lower payment on an 84-month term frequently costs more than a higher payment on 36 months — run both in the calculator above.
The lender wires payoff funds straight to your card issuers, several lenders discount the rate for it, and the money never sits in your checking account tempting a different use.
Closing paid-off cards can hurt your score by cutting your available credit. The winning move is leaving them open with zero balances: utilization drops, your score typically rises within a few cycles.