Published on Apr 07, 2025 5 min read

Top Personal Loans to Help You Refinance Credit Card Debt

Refinancing your credit card debt with a personal loan can be a smart way to save money and simplify your payments. By consolidating your balances into one loan, you may get a lower interest rate and pay off your debt faster. There are many personal loan options available, but it’s important to choose the right one for your needs. Below, we’ll look at some of the best personal loans to consider.

LendingClub

LendingClub operates as a well-known peer-to-peer lending service that links investors to individual borrowers. Users can acquire personal loans between $1000 and $40000 at either three or five years with variable interest rates starting from 6.95%. Loan interest rates at LendingClub begin at 6.95% with upper limits reaching 35.89% based on your credit rating system assessment. Early loan repayment through LendingClub requires no penalization fees to the borrower.

Through LendingClub one can easily examine full details about possible loans to make a selection of the most appropriate financing option. Excellent credit holders can expect their funds during a short period after a simple loan application process.

Marcus by Goldman Sachs

Marcus by Goldman Sachs offers personal loans with competitive interest rates and no fees. The minimum loan amount is $3,500, while the maximum goes up to $40,000. You can choose between 2-7 years for repayment.

One of the unique features of Marcus is its option for a “no fee” loan – meaning there are no origination fees or prepayment penalties. This makes it an attractive option for those looking to save money on their refinancing journey.

SoFi

SoFi is another popular peer-to-peer lending platform that offers personal loans with low interest rates and a variety of loan terms. You can borrow anywhere from $5,000 to $100,000 with repayment options ranging from 2-7 years.

SoFi also offers additional benefits such as unemployment protection and career coaching for borrowers who may face financial difficulties. This makes it an appealing option for those looking for extra security when refinancing their credit card debt.

Discover

Discover is a well-known bank that offers personal loans with fixed interest rates and no origination fees or prepayment penalties. Borrowers can choose loan amounts from $2,500 up to $35,000 with terms of 3-7 years.

Another perk of using Discover for refinancing is its option to pay your creditors directly. This can make the process easier and more convenient, as you won’t have to manage multiple payments or worry about missing any deadlines.

Avant

Avant offers personal loans to borrowers with lower credit scores (as low as 580) and has a fast approval process. The loan amounts range from $2,000 to $35,000 with repayment terms of 2-5 years.

One of the unique features of Avant is its option for joint applications – meaning you can apply for a loan with a cosigner if needed. This can potentially help secure better interest rates and increase your chances of getting approved for a loan.

Best Egg

Best Egg is an online lender that offers personal loans with fixed interest rates and no prepayment penalties. The loan amounts start at $2,000 and go up to $35,000 with terms ranging from 3-5 years.

What sets Best Egg apart is its quick approval process – you can receive your funds in as little as one business day. This makes it a great option for those who need to refinance their credit card debt quickly.

Prosper

Prosper is another peer-to-peer lending platform that connects borrowers with investors to offer personal loans. The loan amounts range from $2,000 to $40,000 with repayment terms of 3 or 5 years.

Interest rates start at 7.95% and go up to 35.99%.

One of the benefits of using Prosper is its flexible loan options – you can choose a fixed or variable rate, as well as add-on features like unemployment protection or joint applications.

Earnest

Earnest offers personal loans with low interest rates and no hidden fees. You can borrow anywhere from $5,000 to $75,000 with repayment terms of 3-5 years.

What makes Earnest unique is its emphasis on rewarding responsible borrowers – if you consistently make on-time payments, you may be eligible for lower interest rates in the future. This can save you even more money in the long run.

Payoff

Payoff specializes in personal loans specifically designed for debt consolidation. The loan amounts range from $5,000 to $40,000 and the repayment terms go up to 5 years.

One of the standout features of Payoff is its focus on financial wellness – they offer tools and resources to help borrowers improve their overall financial health. This, combined with competitive interest rates, makes it a great option for refinancing credit card debt.

Upstart

Upstart uses artificial intelligence to determine interest rates for personal loans, which can be beneficial for those with less traditional credit histories. Loan amounts range from $1,000 to $50,000 with repayment terms of 3-5 years.

One of the advantages of using Upstart is its quick and easy application process – you can receive your funds in just one business day. This makes it a great option for those who want to refinance their credit card debt as soon as possible.

Final Thoughts

When it comes to choosing the right personal loan provider, it’s essential to consider your financial goals, credit history, and repayment preferences. Providers like Earnest and Upstart offer competitive options tailored to different needs, from rewarding responsible borrowers to leveraging AI for quick approvals. Take the time to compare interest rates, loan terms, and additional features to ensure you’re making the best decision for your financial well-being.