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Best Credit Card Refinance Loan

If you need to secure a loan for a credit card refinance, you can benefit by choosing personal loan companies that direct their loan services to reduce your debt in this way. With one payment to worry about, it's easier to meet your obligations.

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Best Credit Card Refinance Loans

Editor's Choice
LightStream Division of SunTrust Bank
  • APR: 5.40 - 35.99%
  • Loan Term: 24 - 84* months
  • Min Credit Score: 660
View details
Key facts
  • Good credit gets low rates and zero fees
  • Fast and easy online process
  • $100 Loan Experience Guarantee¹

Read LightStream Review »

*Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Lowest rates require excellent credit. Rateis 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 $10,000 loan at 4.99% APR with a term of 3 years would result in 36 monthly payments of $299.66. 1After receiving your loan from us, if you are not completely satisfied with your experience, please contact us. We will email you a questionnaire so we can improve our services. When we receive your completed questionnaire, we will send you $100. Our guarantee expires 30 days after you receive your loan. We reserve the right to change or discontinue our guarantee at any time. Limited to one $100 payment per funded loan. Truist teammates do not qualify for the Loan Experience Guarantee. Truist Bank is an Equal Housing Lender. © 2021 Truist Financial Corporation. SunTrust, Truist, LightStream, the LightStream logo, and the SunTrust logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners. Lending services provided by Truist Bank.

Credible Credible is Free to Use
  • APR: 5.40-35.99%
  • Loan Term: 24-84 months
  • Min Credit Score: 600
View details
Key facts
  • Free-to-use marketplace with a choice of vetted lending partners.
  • Borrowers are in control and can compare competitive loan options.
  • No prepayment fees and origination fees as low as 0%

Read Credible Review »

Credible Disclaimer: “Personal Loans Rate and Terms Disclosure: Rates for personal loans provided by lenders on the Credible platform range between 5.40%-35.99% APR with terms from 24 to 84 months. Rates presented include lender discounts for enrolling in autopay and loyalty programs, where applicable. Actual rates may be different from the rates advertised and/or shown and will be based on the lender’s eligibility criteria, which include factors such as credit score, loan amount, loan term, credit usage and history, and vary based on loan purpose. The lowest rates available typically require excellent credit, and for some lenders, may be reserved for specific loan purposes and/or shorter loan terms. The origination fee charged by the lenders on our platform ranges from 0% to 8%. Each lender has their own qualification criteria with respect to their autopay and loyalty discounts (e.g., some lenders require the borrower to elect autopay prior to loan funding in order to qualify for the autopay discount). All rates are determined by the lender and must be agreed upon between the borrower and the borrower’s chosen lender. For a loan of $10,000 with a three year repayment period, an interest rate of 7.99%, a $350 origination fee and an APR of 11.51%, the borrower will receive $9,650 at the time of loan funding and will make 36 monthly payments of $313.32. Assuming all on-time payments, and full performance of all terms and conditions of the loan contract and any discount programs enrolled in included in the APR/interest rate throughout the life of the loan, the borrower will pay a total of $11,279.43. As of March 12, 2019, none of the lenders on our platform require a down payment nor do they charge any prepayment penalties.”

LendingTree Quick & Easy Online Process
  • APR: 5.99-35.99%
  • Loan Term: 3-180 months
  • Min Credit Score: 550
View details
Key facts
  • The nation’s largest online lending marketplace
  • Over $260 billion in loans facilitated
  • One short form for multiple loan options

Read LendingTree Review »

LendingTree Disclaimer: A Personal Loan can offer funds relatively quickly once you qualify you could have your funds within a few days to a week. A loan can be fixed for a term and rate or variable with fluctuating amount due and rate assessed, be sure to speak with your loan officer about the actual term and rate you may qualify for based on your credit history and ability to repay the loan. A personal loan can assist in paying off high-interest rate balances with one fixed term payment, so it is important that you try to obtain a fixed term and rate if your goal is to reduce your debt. Some lenders may require that you have an account with them already and for a prescribed period of time in order to qualify for better rates on their personal loan products. Lenders may charge an origination fee generally around 1% of the amount sought. Be sure to ask about all fees, costs and terms associated with each loan product. Loan amounts of $1,000 up to $50,000 are available through participating lenders; however, your state, credit history, credit score, personal financial situation, and lender underwriting criteria can impact the amount, fees, terms and rates offered. Ask your loan officer for details. Rates and APR assume fixed rate for the term of the loan may not be available for all consumers, ask your lender for a fixed rate quote. Loan Example: A $10,000 loan with a 5-year term at 13% Annual Percentage Rate (APR) would be repayable in 60 monthly installments of $228 each. The actual payment amount and year-end balance will vary based on the APR, loan amount, and term selected. In this case the total amount expected to pay by the borrower will be $13,680 *This examples are for illustrative purposes only. The examples and match rates are not a guarantee, agreement, or commitment to loan funds or extend credit. Interest rates and terms are subject to change at any time without notice.

Bankrate More than 4 decades of experience
  • APR: 6.24-35.99%
  • Loan Term: 6-144 months
  • Min Credit Score: 550
View details
Key facts
  • Borrowers can find a personal loan option that fits their exact needs
  • Offers a comprehensive knowledge hub
  • Simple to use online loan comparison tool

Read Bankrate Review »

The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guarantee the accuracy or availability of any rates shown. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own website where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers’ terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.

Figure Get Approved in Minutes
  • APR: 5.75-22.94%
  • Loan Term: 36 & 60 months
  • Min Credit Score: 680
View details
Key facts
  • Approval in minutes. Funding in as few as 2 days.
  • Borrow up to $50k for emergency or unexpected purchases.
  • 100% online application; 3 & 5-year term options.
  • Low fixed rates available.

Read Figure Review »

Figure disclaimer: Figure Personal Loan is available in all 50 states including Washington DC.
¹To check the rates and terms you qualify for, we will conduct a soft credit pull that will not affect your credit score. However, if you continue and submit an application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit. Figure’s APRs start at 4.00% for the most qualified applicants and are higher for other applicants. Loan example, for a borrower with a CLTV of 45% and a credit score of 800, a five-year Figure Home Equity Line with an initial draw amount of $50,000 would have a fixed annual percentage rate (APR) of 5.75% and a 3.00% origination fee. Your total loan amount payment would be $51,500. Origination fees range from 0-5.75% of your initial draw depending on your credit score and the state in which your property is located. The advertised rate is available only to borrowers using primary residences as collateral. Your actual rate will depend on many factors such as your credit, combined loan to value ratio, loan term and occupancy status. * For Figure Home Equity Line, APRs can be as low as 3.00% for the most qualified applicants and will be higher for other applicants, depending on credit profile and the state where the property is located. For example, for a borrower with a CLTV of 45% and a credit score of 800 who is eligible for and chooses to pay a 5.75% origination fee in exchange for a reduced APR, a five-year Figure Home Equity Line with an initial draw amount of $50,000 would have a fixed annual percentage rate (APR) of 3.00%. The total loan amount would be $52,495. Alternatively, a borrower with the same credit profile who pays a 3% origination fee would have an APR of 4.00% and a total loan amount of $51,500. Your actual rate will depend on many factors such as your credit, combined loan to value ratio, loan term, occupancy status, and whether you are eligible for and choose to pay an origination fee in exchange for a lower rate. Payment of origination fees in exchange for a reduced APR is not available in all states. In addition to paying the origination fee in exchange for a reduced rate, the advertised rates include a combined discount of 0.50% for opting into a credit union membership (0.25%) and enrolling in autopay (0.25%). APRs for home equity lines of credit do not include costs other than interest. Property insurance is required as a condition of the loan and flood insurance may be required if your property is located in a flood zone.

SoFi Low Rates. No Fees required
  • APR: 8.99-23.43%
  • Loan Term: 24-84 months
  • Min Credit Score: 680
View details
Key facts
  • Competitive rates available for good credit scores and income source
  • Access to financial advisors, private networking events, & unemployment protection
  • Flexible terms & payment options with no fees whatsoever

Read SoFi Review »

Fixed rates from 8.99% APR to 23.43% APR APR reflect the 0.25% autopay discount and a 0.25% direct deposit discount. SoFi rate ranges are current as of 3/06/23 and are subject to change without notice. Not all rates and amounts available in all states. See Personal Loan eligibility details. 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. See APR examples and terms. 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.

What is a Credit Card Refinance Loan?

A Credit Card Refinance loan is another name given to a credit card debt consolidation. This loan enables you to pay off all your credit card debts and, in turn, repay the amount you take out in monthly installments.

If you have several credit cards that you pay every month, you can lower your interest rate by applying for a personal loan to refinance credit card debt.

For example, maybe you have 6 credit cards that you have maxed out. You can apply for a personal loan for the amount you owe on all the cards and pay them off. In turn, you only have to pay off the Credit Card Refinance personal loan. Since you paid off the credit cards with the Credit Card Refinance personal loan, you have 6 fewer bills to pay.

You can apply for a Credit Card Refinance personal loan and reap some major advantages, provided you have a good enough credit score to qualify for a reduced APR. 

If you are struggling to meet your current credit card bills, taking out a Credit Card Refinance personal loan with a lower APR will make paying off your debt cheaper. Once you find lenders that specialize in this type of funding, you can start making comparisons.

How to Get Started?

To apply for a Credit Card Refinance personal loan, you will need to take the following steps.

  • Check Your Credit Score. When you apply for any type of personal loan online, you need to check your credit score first, as most of these loans are based on your credit rating. Obtaining your credit score will also assist you in determining the best APR for your credit range.
  • Select Your Loan Type. Some companies specialize in Credit Card Refinance loans, so it is better to go through them if you want the best rates or benefits in terms of funding.
  • Get Prequalified for a Credit Card Refinance. When you choose several lending providers you like, you will need to get prequalified. Doing so will give you the repayment details and reveal how much the APR for the Credit Card Refinance will be.
  • Compare the Lenders. After you have had a chance to get prequalified through different lenders, you can review their terms and APRS, and see which one fits best with your lending needs. Since this is a Credit Card Refinance, it usually is best to choose the lender with the absolute lowest APR, as doing so will make getting the loan much more advantageous.
  • Supply the Necessary Info and Documents. When you choose a lender, you will need to provide the necessary documentation and information. In this case, you need to supply the following –
    • Personal Identification (Social security card, passport, or driver’s license)
    • Proof of earnings or income (W-2s, paystubs, or filed tax returns)
    • Employer information (Name of company, manager’s name, and phone number and address)
    • Proof of residence (utility bill with your name and address or a lease agreement
  • Apply for the Loan and Start Making Payments. After you apply for your Credit Card Refinance personal loan and start making payments, you might add some extra money to each payment each month to repay the loan faster. Doing so will make paying off your credit card debt simpler and faster.


What You Need to Know?

To take out a Credit Card Refinance personal loan, you should be aware of the following terms:

  • Annual Percentage Rate (APR) – The interest rate charged on a Credit Card Refinance personal loan, expressed at an annual rate. A credit card often features different APRs – one for purchases and another one for balance transfers.
  • Application Fee – The amount a lender charges for processing a loan application and the related documents. These fees are usually non-refundable and may or may not be included in processing a personal loan.
  • 3-in-One Credit Report – Also known as a merged credit report, a 3-in-One credit report shows your credit information from each of the major credit agencies, or TransUnion, Experian, and Equifax. The report shows the 3 credit scores side-by-side in an easy-to-digest format.
  • Credit Card Refinance – A personal loan that allows the user to pay off his or her credit debt and pay back the amount with 1 simple loan payment each month.
  • Charge-off – When a creditor or lender writes off the balance of a debt, no longer expecting repayment. This is also known as bad debt. A charge-off remains on your credit report for 7 years and therefore harms your credit score. After a debt is charged off, it may be sold to a collection agency to try to obtain payment.
  • Balance Transfer – The process of moving some or all of an outstanding credit card balance to another credit card with a lower APR or special rate. Teaser rates are often featured for balance transfers. Because these low rates do not last, it is better to choose a Credit Card Refinance to relieve credit card debt.
  • Balance Transfer Fee – The fee charged to credit card customers for transferring an outstanding credit card balance to another credit card.
  • Debt Consolidation – Combining debts into 1 loan amount to pay off credit card debt fast and conveniently.
  • Debt – The amount you owe on a credit card or loan.
  • Principal – The amount of the loan proceeds.
  • Loan Interest – The amount charged on the principal for a Cash Refinance loan.
  • Default – The status of an unpaid account. An account is usually listed as being in default if it has several delinquencies (non-payments).
  • Delinquency – A term used for late payment or non-payment – usually on a credit card account. Accounts are usually considered delinquent after 30, 60, 90, or 120 days, as most Cash Refinance loans are based on monthly payment cycles. Delinquency can stay on your credit report for 7 years and therefore can be damaging to your credit score.

FAQ on Credit Card Refinance

What type of credit score is needed for a Credit Card Refinance personal loan?

How do I find a lending partner that will approve me for a Credit Card Refinance personal loan?

What determines the payment amount for a Credit Card Refinance personal loan?

What type of down payment do I need for a Credit Card Refinance personal loan?

What defines a Credit Card refinance?

What can I expect to pay for the interest rate for a Credit Card Refinance?