Best Loans for Credit Card Refinancing in May 2025

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Written by
Lauren Clifford
Updated April 30, 2025
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Credit card refinancing lenders at a glance

Upstart: Best for lowest refinancing rates

6.60% - 35.99%

36 or 60 months

$1,000 - $50,000

0.00% - 12.00%

300

Pros
  • Ultra-competitive rates for excellent credit
  • Don’t need good credit (or in some cases, any credit)
  • Pay off your cards as soon as tomorrow
  • High customer service scores from LendingTree users
Cons
  • Might pay a hefty origination fee
  • Only two repayment term lengths
  • Does not pay your creditors directly

What to know

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Upstart offers some of the lowest starting rates on the market, making their loans ideal for borrowers with excellent credit who want to save as much as possible. Upstart doesn’t just cater to borrowers with good credit — you can qualify with a credit score as low as 300.

Just because you qualify with bad credit doesn’t mean your loan will come cheap. Upstart’s maximum APR is 35.99%, and it may charge an origination fee between 0.00% - 12.00%.

How to qualify

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Upstart has transparent eligibility requirements, including:

  • Age: Be 18 or older
  • Administrative: Have a U.S. address, personal banking account, email address and Social Security number
  • Employment: Have a job or job offer that starts within six months, or have regular income
  • Credit-related factors: Debt-to-income (DTI) ratio no higher than 50% (45% in Connecticut, Maryland, New York and Vermont), no bankruptcies within the last year, fewer than six inquiries on your credit report in the last six months and no current delinquencies
  • Credit score: 300+
See Personalized Results Read Our Expert Review

LightStream: Best for no-fee refinancing loans

7.49% - 24.14% (with autopay)

24 to 84 months

Loan Term Disclosure

Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Excellent credit is required to qualify for lowest rates. Rate is quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay are 0.50% points higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Payment example: Monthly payments for a $25,000 loan at 6.49% APR with a term of 3 years would result in 36 monthly payments of $766.11. © 2024 Truist Financial Corporation. Truist, LightStream and the LightStream logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners. Lending services provided by Truist Bank.

$5,000 - $100,000

None

Not specified

Pros
  • Can borrow up to $100,000 (lenders typically offer up to $50,000)
  • No fees
  • 0.50% autopay discount
Cons
  • Must have good to excellent credit
  • Can't check rates without hurting credit
  • Will not send your money to your creditors for you

What to know

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While most lenders charge an upfront fee to consolidate debt, LightStream stands out from competitors by skipping fees altogether. You should consider LightStream if you have a lot of debt to pay off or need extra-long repayment terms.

Note that LightStream won’t send your loan directly to your creditors. And unlike most other lenders, you can’t prequalify for a LightStream loan.

How to qualify

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LightStream doesn’t specify its minimum credit score requirements. It does make clear that it only lends to borrowers with good to excellent credit. The lender also advises that many of its approved applicants have:

  • At least five years of credit history
  • Retirement and investment accounts, as well as liquid assets in a checking or savings account
  • An acceptable DTI ratio
  • No delinquencies or blemishes regarding payment history
See Personalized Results Read Our Expert Review

Discover: Best for excellent customer service

7.99% - 24.99%

36 to 84 months

$2,500 - $40,000

None

720

Pros
  • Hardship programs available if you fall behind
  • High customer service scores from LendingTree users
  • Competitive rates
Cons
  • $39 fee for late payments (high compared to other lenders)
  • No live chat
  • Must have good credit

What to know

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If you’re having trouble keeping up with your loan, you may have options with Discover. This lender may allow you to delay your payments, temporarily reduce them or extend your loan term.

Still, it’s important to let Discover know that you can’t make your payment as soon as possible. It charges an expensive $39 late payment fee.

How to qualify

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You’ll need to meet these eligibility criteria to get a Discover loan:

  • Age: Be at least 18
  • Citizenship: Have a Social Security number
  • Administrative: Have a physical address, email address and internet access
  • Income: Minimum income of $40,000 (individually or as a household)
  • Credit score: 720+
See Personalized Results Read Our Expert Review

Happy Money: Best for fair-credit borrowers

8.95% - 29.99%

24 to 60 months

$5,000 - $40,000

1.50% - 5.50%

640

Pros
  • Competitive rates for fair credit
  • No late payment fees
  • Transparent eligibility guidelines
Cons
  • Can’t have bad credit
  • Can take up to a week to find out if your loan was approved
  • Rates not as competitive if you have excellent credit

What to know

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Happy Money is a lending platform that specializes in credit card refinancing. Happy Money partners with credit unions, which is likely why its maximum APR is so low.

By law, federal credit union personal loans can’t have rates higher than 18%. So, even if you just barely qualify for a Happy Money loan, you may still get a competitive rate.

If you have excellent credit, however, you will likely find a lower rate elsewhere. Happy Money also charges an origination fee. This is a fee Happy Money will take from your loan funds before sending you your money.

How to qualify

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Happy Money provides clear eligibility requirements as to how you can qualify for a loan:

  • Age: Must be 18 years or older
  • Administrative: Must have a valid Social Security number and checking account
  • Residency: Must not live in Iowa, Massachusetts or Nevada
  • Credit score: 640+
  • Payment history: Zero current delinquencies on your credit profile
See Personalized Results Read Our Expert Review

Laurel Road: Best for midsized loans

8.99% - 24.25% (with autopay)

36 to 60 months

$5,000 - $45,000

None

Not specified

Pros
  • Can change payment due date
  • No origination fee
  • Available in all 50 states, plus Washington, D.C., and Puerto Rico
Cons
  • Unknown minimum credit score requirements
  • Only three loan terms (36, 48 or 60 months)
  • Customer service is only available five days a week

What to know

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Laurel Road might be a good choice if you have $5,000 to $45,000 in credit card debt to refinance. Although customer service is not available on weekends, it has live chat. Tech-savvy borrowers might also enjoy the online lender’s highly rated mobile app.

Compared to some lenders, though, Laurel Road’s loan term options are lacking. Also, it does not specify its minimum credit score requirements.

How to qualify

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Laurel Road doesn’t provide much insight into how it evaluates personal loan applications, but you must be at least the age of majority in your state (typically 18 or 19).

While Laurel Road doesn’t specify a minimum credit score, it does state that it’s able to offer low rates because it works with creditworthy borrowers. The lender may assess this creditworthiness by evaluating your debt-to-income ratio, employment, income and credit history.

See Personalized Results Read Our Expert Review

SoFi: Best for interest rate discounts

8.99% - 35.49% (with discounts)

SoFi Pricing Disclosure

Fixed rates from 8.99% APR to 35.49% APR. APR reflects the 0.25% autopay discount and a 0.25% direct deposit discount. SoFi Platform personal loans are made either by SoFi Bank, N.A. or , Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender. SoFi may receive compensation if you take out a loan originated by Cross River Bank. These rate ranges are current as of 04/24/25 and are subject to change without notice. Not all rates and amounts available in all states. See SoFi Personal Loan eligibility details at https://www.sofi.com/eligibility-criteria/#eligibility-personal. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, income, and other factors. Loan amounts range from $5,000– $100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 9.99% of your loan amount for Cross River Bank originated loans which will be deducted from any loan proceeds you receive and for SoFi Bank originated loans have an origination fee of 0%-7%, will be deducted from any loan proceeds you receive.

Autopay: The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Autopay is not required to receive a loan from SoFi.

Direct Deposit Discount: To be eligible to receive an additional (0.25%) interest rate reduction on your Personal Loan (your “Loan”), you must set up Direct deposit with a SoFi Checking and Savings account offered by SoFi Bank, N.A., or enroll in SoFi Plus by paying the SoFi Plus Subscription Fee, all within 30 days of the funding of your Loan. Once eligible, you will receive this discount during periods in which you have enabled Direct Deposit to an eligible Direct Deposit Account in accordance with SoFi’s reasonable procedures and requirements to be determined at SoFi’s sole discretion, or during periods in which SoFi successfully receives payment of the SoFi Plus Subscription Fee. This discount will be lost during periods in which SoFi determines you have turned off Direct Deposit to your Checking and Savings account or in which you have not paid for the SoFi Plus Subscription Fee. You are not required to enroll in Direct Deposit or to pay the SoFi Plus Subscription Fee to receive a Loan.

24 to 84 months

$5,000 - $100,000

0.00% - 7.00% (optional)

680

Pros
  • APR discount if you allow SoFi to pay your creditors directly
  • Can borrow as much as $100,000
  • Customer service available via live chat
Cons
  • May need to pay an optional fee for lowest rates
  • Only lends if you have good credit
  • Must borrow at least $5,000

What to know

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You could get more than one interest rate discount by opting for credit card refinancing with SoFi. First, SoFi may give you 0.25% off of your APR if you sign up for automatic payments. You could get another 0.25% APR discount by setting up direct deposit with an eligible SoFi account.

However, this lender only makes sense if you have a large amount of credit card debt — $5,000 is the smallest loan it offers. SoFi may ask for an optional origination fee to unlock the lowest rates.

How to qualify

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You must meet the requirements below in order to get a loan from SoFi:

  • Age: Be the age of majority in your state (typically 18)
  • Citizenship: Be a U.S. citizen, an eligible permanent resident or a non-permanent resident (a DACA recipient or asylum-seeker, for instance)
  • Employment: Have a job or job offer with a start date within 90 days, or have regular income from another source
  • Credit score: 680+
See Personalized Results Read Our Expert Review

Prosper: Best for refinancing with bad credit

8.99% - 35.99%

24 to 60 months

$2,000 - $50,000

1.00% - 9.99%

560

Pros
  • May accept poor credit
  • Can take out a loan with another person (also called a joint loan)
  • Competitive rates for excellent credit
  • High customer service scores from LendingTree users
Cons
  • Mandatory fees
  • May need to wait five days to find out if you’re approved
  • Will not send your loan funds to your creditors

What to know

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As a peer-to-peer lender, individual investors fund Prosper’s loans. The biggest perk with this lending model is that it generally has looser eligibility standards, making it ideal for borrowers with bad credit.

Regardless of your credit score, you’ll pay an origination fee with Prosper. You’ll also be responsible for paying your creditors yourself.

How to qualify

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To get a loan with Prosper, you must meet the following requirements:

  • Age: Be 18 or older
  • Administrative: Have a U.S. bank account and Social Security number
  • Residency: Not live in Iowa or West Virginia
  • Credit score: 560+
See Personalized Results Read Our Expert Review

What is credit card refinancing?

Think of credit card refinancing as trading in many smaller credit card debts for one larger debt. This is also called consolidation, and it can help some borrowers pay less interest.

Refinancing can help you:

Save money on interest. Compared to credit cards, credit card consolidation loans typically come with lower interest rates. At least, as long as you have excellent credit.

Simplify your budget. Credit card refinancing can also make budgeting easier. Instead of juggling multiple credit card bills, you’ll only have one loan bill to pay.

Plus, unlike credit cards, the bill for your consolidation loan will be the same each month, thanks to fixed interest rates.

On this page

 Save with lower rates. Personal loan rates for people with 720+ credit scores currently have an average APR of 17.43%. Credit cards, on the other hand, currently sit at an average interest rate of 24.43%.

Pros and cons of credit card refinancing

ProsCons
 Lower APRs. If you have good credit, personal loans generally come with better rates than cards.

 Streamlines your budget. After you consolidate, you’ll only have one monthly bill to pay.

 Predictable billing. Credit card consolidation loans have fixed rates, so your payment will be the same each month. 		 Is another form of debt. Credit card consolidation restructures your credit card balances, but doesn’t eliminate them.

 Takes willpower. If your lender doesn’t pay your creditors directly, you may be tempted to spend the loan on other things.

 Could cost more overall. If you choose a long loan term, you may end up paying more interest than if you didn’t consolidate. Some consolidation loans also come with origination fees.
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When does a credit card consolidation loan make sense?

Taking out an installment loan to pay off credit card debt can be a solid way to save money on interest. Still, this approach isn’t best for everyone.

 When a credit card consolidation loan makes sense

  • If the loan has a lower APR than your credit cards
  • If you’re having a hard time keeping track of multiple credit card payments
  • If you’ll have a lower monthly payment after consolidating

 When a credit card consolidation loan doesn’t make sense

  • If the loan has a higher APR than your credit cards
  • If you only have a small amount of debt across a couple of cards
  • If you won’t be able to afford your monthly payment after consolidating
  • If you aren’t ready to slow down using your credit cards

How to compare credit card refinancing loans with LendingTree

Shopping around for the lowest loan rates can help you save even more money on your credit card debt. We help make the process fast and easy. Here’s how it works:

  1. Fill out a form. Answer a few questions about yourself and your current debts. This should take about two minutes.
  2. Compare offers. We could send you offers from up to five lenders from the nation’s largest network of lending partners. You can easily compare your offers to make sure you’re getting the best rates.
  3. Get your loan. Choose a lender, fill out the formal loan application and sign on the dotted line. Many lenders will send your money directly to your credit card company, but you can also choose to do this yourself.
 Big savings, no hassle
If you have fair or good credit, you can save up to $3,138 by getting six or more personal loan offers. With LendingTree, you don’t have to fill out several loan applications to get your offers. We’ll do the shopping for you.

Will credit card refinancing hurt my credit score?

It could, but the hit will be temporary and small as long as you make payments on time. Here are the different ways refinancing can affect your score:

  • Small dip (around a few points) when you apply. When you apply for a loan, you’ll have to take a hard credit hit, which will cause your score to drop by around five points.
  • Small boost when you take out the loan because you’re adding another type of credit. A debt consolidation loan could boost your credit by diversifying your credit mix. Credit mix is one of the five factors used to calculate your credit score. It accounts for 10% of your score. Having a healthy variety of up-to-date loans and cards can show that you’re a responsible borrower.
  • Steady increase if you make on-time payments. When you make payments on time (every time), you’ll likely improve your credit score.
  • Significant damage to your score if you miss a payment. A single late payment can cause your score to dip by up to 180 points, so make sure your loan payments fit in your budget.

Alternatives to credit card consolidation loans

Everyone’s financial situation is different, and maybe consolidating isn’t right for you. The alternatives below could be better fit:

Work out a payment plan

Some credit card companies (Discover, for instance) have assistance programs designed to help during financial hardship. Whether you’re in danger of missing a payment or already behind, call your credit card company to see if they can help.

Redo your budget

There are budget strategies that can help you pay off your debt faster.

If you use the debt snowball method, you’ll pay off your smallest debts first. Knocking out your lower-balance cards might empower you to continue eliminating your debt.

The debt avalanche method, on the other hand, will focus your attention on your debt with the highest APRs. By paying off your highest-interest debt first, you could save on interest over time.

Balance transfer card with 0% APR

Like consolidating, you won’t get rid of your debt with a balance transfer card. Instead, you’ll shift your existing debt to a different card (hopefully one with introductory 0% APR). Credit card issuers design these cards specifically to help borrowers manage debt.

Consider a debt management plan

If you’re in a lot of debt, consider a debt management plan. A credit counselor will negotiate with your creditors on your behalf.

You could get your cards paid off in three to five years with a debt management plan. However, while you’re paying off your debt, you won’t be able to use the cards that are under your plan.

How we chose the best loans for credit card consolidation

We reviewed more than 30 lenders to determine the overall best seven credit card consolidation loans. To make our list, lenders must offer credit card consolidation loans with competitive APRs. From there, we prioritize lenders based on the following factors:

  • Accessibility: Lenders are ranked higher if their personal loans are available to more people and require fewer conditions. This may include lower credit requirements, wider geographic availability, faster funding and easier and more transparent prequalification and application processes.
  • Rates and terms: We prioritize lenders with more competitive fixed rates, fewer fees and greater options for repayment terms, loan amounts and APR discounts.
  • Repayment experience: For starters, we consider each lender’s reputation and business practices. We also favor lenders that report to all major credit bureaus, offer reliable customer service and provide any unique perks to customers, like free wealth coaching.

Frequently asked questions

You could qualify for a debt consolidation loan for bad credit with a score as low as 300 (see Upstart). But just because you qualify with a lower score doesn’t mean it’s a wise move.
 
To refinance credit card debt with a credit card consolidation loan, you’ll probably want at least good credit (680 or higher). It also depends on the APR you’re paying across your cards. Calculate the average credit card APR, prequalify for a few loans and see which option works out in your favor.

By trading in high-interest credit card debt for lower-interest personal loan debt, credit card refinancing can save you money. But there are a few pitfalls to avoid.
 
A long loan term could result in more overall interest, even if the APR on your loan is lower than your cards. The longer it takes you to pay off your debt, the more interest you may pay.
 
Also, if you continue to charge your cards, refinancing is only a band-aid. Along with refinancing, review your budget and your financial habits so you don’t find yourself in a cycle of debt.

Personal loans are versatile and you can use them for almost anything, including consolidating debt. However, you may want to target personal loan lenders that offer extra perks on credit card refinancing. For instance, you could get an APR discount from SoFi if you allow it to pay your credit cards directly.