Debt consolidation loans for good credit
With good credit, you may have several debt consolidation offers to compare, though what you see depends on your income and existing debt as well as your score. Here's what lenders review and how to tell whether consolidating would cost less.
What to expect consolidating with good credit
- FICO describes scores of 670 to 739 as good. Score ranges vary by scoring model, and each lender defines its own criteria.
- With good credit, both a consolidation loan and a balance transfer card may be options. Compare the fees, the term and what happens after any promotional period.
- Lenders weigh your debt-to-income ratio closely for consolidation, because the new loan replaces existing payments. Have a list of every balance ready.
- Small differences in APR or origination fees add up on a larger consolidated balance. Compare the total you would repay across offers.
Estimate what consolidating could save
Enter your current balances and their APRs, then the APR and term you want to compare. Both are paid off over the same term.
Estimates only, based on the numbers you enter. Not an offer of credit. Lendara is not a lender.
How checking your options works
When you check your options for a debt consolidation loan with good credit through Lendara, you answer a few questions about the loan you want, your income and your finances.
If participating lenders have options for you, you can compare them side by side: APR, fees, monthly payment, term and total cost. Nothing is accepted until you choose an offer.
If you decide to apply, the lender reviews your application, may check your credit, and decides whether to approve you and on what terms. Lendara doesn't make that decision.
Frequently asked questions
Is consolidating worth it with good credit?
It can be if an offer's APR and fees come in under what you pay now over a similar time frame. Use the calculator above to compare your current balances with an illustrative consolidated payment.
Does a consolidation loan pay off my cards directly?
Some lenders send the money straight to your creditors; others deposit it with you. If it's deposited with you, plan to pay each balance off right away.
Is Lendara a lender?
No. Lendara is a free marketplace that connects you with participating lenders. We don't make credit decisions or lend money.
Related guides
- Debt Consolidation Loan vs. Balance Transfer Card
How a debt consolidation loan and a balance transfer card each combine existing balances, what they cost, what happens when a promotional rate ends, and how to choose.
- How to Compare Debt Consolidation Loan Offers
How to compare debt consolidation loan offers on APR, origination fees, term length, total cost and prepayment penalties before you consolidate.
- How Your Credit Score Can Affect the Offers You See
Why the offers you see through a marketplace may vary with your credit score, and how prequalification tools try to show relevant options.
Lendara is not a lender and does not make credit decisions. Lendara is a free online marketplace that connects you with participating lenders, who set their own eligibility rules, rates, fees and terms. Lendara may receive compensation from partners, which may affect which offers appear and their order.