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Compare NerdWallet's expert picks for the best debt consolidation loans from companies like Discover, Upgrade and SoFi. Consolidate credit card and other debts for faster payoff.
When debt consolidation isn't worth it. It could make more sense to consider a different debt relief option if: You have a poor credit score.
A consolidation loan with an 11% APR and a 12-month term could reduce borrowing costs by $455. Of course, loan rates vary. Here’s a breakdown of average rates by credit score. 2.
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Key takeaways. The average three-year personal loan rate is 13.88% APR, but with good or excellent credit, you could qualify for a lower rate from various debt consolidation companies.
Debt consolidation might hurt your credit — here's how to avoid the damage Debt consolidation can be a big help, but it comes with some risks to your credit.
Debt consolidation has the potential to help and hurt your credit score, but the overall effect should be positive if you're able to pay off your debt. 2 By Bev O'Shea, Jackie Veling ...
CNBC Select looked at fees, interest rates and repayment options for different credit scores to find the best debt consolidation loans.