Welcome to the Debt Consolidation Loan section of the SmartWealth app, where you can explore and compare the best loan options from trusted lenders to simplify your financial life. Debt consolidation loans are crucial for managing multiple debts, combining them into a single loan with a lower interest rate and more manageable monthly payments. This approach not only reduces financial stress but also helps improve your credit score by streamlining your debt repayment process. With the SmartWealth app, finding the right debt consolidation loan is easy, allowing you to take control of your finances, reduce interest costs, and work towards a debt-free future with confidence.
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DEBT CONSOLIDATION LOANS
SOFI BANK
HIGHLIGHTS
JOINT LOAN OPTIONS + MULTI-RATE DISCOUNTS
Recommended Credit
300 - 850 (BAD - Excellent)
LOAN CAP
$5,000 - $100,000
REPORTS TO:
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ALL BUREAUS
TERMS:
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DEBT CONSOLIDATION LOAN
SoFi's personal loans include all of the hallmarks of a five-star lender, including a wide range of loan amounts and flexible repayment terms, as well as extra benefits like free financial planning and estate planning savings. SoFi loans can be utilized for a variety of objectives, including debt consolidation, adoption, in vitro fertilization, travel, and weddings.
While no fees are required, borrowers may pay an origination charge of up to 7% of the loan amount. The charge is withheld from the loan proceeds prior to disbursement.
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DEBT CONSOLIDATION LOANS
PNC BANK
HIGHLIGHTS
JOINT LOAN OPTIONS + REPAYMENT OPTIONS
Recommended Credit
300 - 850 (BAD - Excellent)
LOAN CAP
$1,000 - $35,000
REPORTS TO:
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ALL BUREAUS
TERMS:
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DEBT CONSOLIDATION LOAN
PNC provides credit cards, home equity loans and lines of credit, and personal loans as three viable solutions for consolidating debt. Consolidating debt from loans and credit lines from various lenders is possible with any of those alternatives. PNC is unique in that it offers all three of these alternatives, but only half of the ten biggest banks in the U.S.
Because PNC's debt consolidation alternatives have the potential for low annual percentage rates, they are good. For instance, PNC offers personal loans with APRs as low as 5.99%, as well as home equity loans and credit lines with APRs between 4% and 5%. Furthermore, PNC personal loans allow for maximum borrowing amounts of $35,000, while home equity offers allow for even higher borrowing amounts.
​Obtaining a lower interest rate than the ones on the current debts and obtaining sufficient cash to settle the existing obligations in full are two of the most crucial factors to take into account when consolidating debt.
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DEBT CONSOLIDATION LOANS
LIGHTSTREAM
HIGHLIGHTS
LONG REPAYMENT TERMS + NO FEES
Recommended Credit
660 - 850 (FAIR - Excellent)
LOAN CAP
$5,000 - $100,000
REPORTS TO:
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ALL BUREAUS
TERMS:
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DEBT CONSOLIDATION LOAN
LightStream provides unsecured personal loans with no fees to consumers with good to excellent credit (scores more than 690). Loans are available in a variety of quantities, and borrowers can add a co-borrower to help qualify for a larger loan or a reduced interest rate.
Among its many consumer-friendly features, LightStream allows borrowers to select when they get their funds. It can put funds into your account as soon as the next day or up to 90 days after approval for home renovation loans. Scheduling a later fund date allows you to plan for your first payment or fit your loan with your expenses.
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DEBT CONSOLIDATION LOANS
UNIVERSAL CREDIT
HIGHLIGHTS
FAST FUNDING + RATE DISCOUNT
Recommended Credit
560 - 850 (POOR - Excellent)
LOAN CAP
$1,000 - $50,000
REPORTS TO:
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ALL BUREAUS
TERMS:
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DEBT CONSOLIDATION LOAN
Universal Credit personal loans are ideal for customers with low credit ratings who desire a loan with features that will improve their credit. Universal Credit has higher starting rates than other bad-credit lenders, so compare loan offers before applying.
Upgrade, an online lender, operates Universal Credit. The key distinction between the two is that borrowers with poor credit scores (629 or lower) and high debt may be more eligible for a Universal Credit loan. Upgrade provides a more flexible personal loan, which is particularly useful for debt consolidation.
Once accepted, Universal Credit consumers get access to Upgrade's features, which include credit building tools, a mobile app, and a discount for paying creditors directly on debt consolidation loans.
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DEBT CONSOLIDATION LOANS
HAPPY MONEY
HIGHLIGHTS
FAST FUNDING + HARDSHIP PROGRAM
Recommended Credit
640 - 850 (FAIR - Excellent)
LOAN CAP
$5,000 - $40,000
REPORTS TO:
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ALL BUREAUS
TERMS:
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DEBT CONSOLIDATION LOAN
Happy Money provides fixed-rate personal loans to consumers seeking to settle credit card debt. The "Payoff Loan" consolidates several high-interest credit card payments into a single monthly payment with a lower annual percentage rate.
Happy Money helps customers improve credit by reporting loan payments to the three major credit agencies and providing interim payment protection in the event of unemployment.
