Making debt manageable
We get it. Sometimes debt can feel overwhelming. But taking control of debt and paying it down can improve your financial situation and boost your credit score for when you do need to borrow. Finding ways to lower your interest and combine debt into one manageable payment is a worthy goal. And we’re here to help.
What’s the Difference in Debt Consolidation Options?
Debt consolidation loans and credit card consolidation are great options for combining debt into one low-interest payment. See how they differ and make the best choice for you.
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Personal Loan for Debt Consolidation
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Balance Transfer Credit Card
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Consolidate Different Loans
Provides flexibility to consolidate credit cards, auto loans, or other types of loans.
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Consolidate Credit Card Debt
Consolidate multiple credit cards or a single, higher-interest credit card balance.
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Structured Loan
The loan amount, term (length), and rate or APR are determined when you apply. Your payment is the same every month.
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Some Flexibility
How long it takes you to pay off the balance depends on how much you owe and whether you pay the minimum payment or more.
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Average APR1 May Be Lower
Personal loans for debt consolidation generally have a lower APR than credit cards, but the rate varies depending on your credit score, the loan amount, and the repayment period.
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May Have Promotional Rate
For a limited time, take advantage of promotional rates offering zero interest on balance transfers.
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Check current debt consolidation loan rates and prequalify
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Explore Patelco’s low-rate balance transfer credit card
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