Refinance credit card debt
Checking your rate is free and won’t impact your credit score.
Get $200 with Rewards Checking Plus
when you also open an account and direct deposit at least $1,000**
Get $200 with Rewards Checking Plus
when you also open an account and direct deposit at least $1,000**Eliminate high-interest credit card payments with a lower rate
Pay credit card bills directly
Why refinance your credit cards with a personal loan?
Take control
Lower your rates
No surprises
Get out of debt faster
What customers are saying: major purchase loans
”It is great working with Upgrade. They sent the money right away to my bank account and I can start paying off my credit cards. Thanks Upgrade for your help. Upgrade is great!””
It's quick and easy to apply for a personal loan online
Apply online in minutes and see your rate with no obligation or impact to your credit score.
Review multiple loan options and decide which offer is best.
Accept your loan offer and you should get your money within a day of clearing necessary verifications.
Personal loans through Upgrade are flexible & customizable
Select an offer
Choose your monthly payment that won’t ever change and fits your budget.
Fixed Rate & Term
Pick terms that fit your timeline.
A simple breakdown of a personal loan
Get to know the rates, fees and your payback plan
If you're approved for a $10,000 loan with a 17.98% APR and 36-month term...
The 17.98% APR includes:
You would get $9,500 deposited directly in your account
$10,000 —
$500 = $9,500
And, each month you would pay back $343.33 over 36 months
Personal Loan FAQs
- How does credit card refinancing work?
- Credit card refinancing allows you to combine multiple credit card payments into one monthly payment. It’s an approach to paying off your credit cards. If you use a loan to consolidate your credit cards, you’ll make a single monthly payment instead of one for each credit card. You’ll also have a date when you’ll be debt free - for example, if you get a loan with a 36 month term, you’ll know that your credit card debt will be paid off in 36 months. Lastly, personal loans through Upgrade have fixed interest rates. This means your interest rate will never go up, you can easily predict how much you’ll pay each month, and you may save on interest over time!
- How does Debt Payoff work?
- The Debt Payoff option may appear when you check your rate with Upgrade. It allows you to use all or part of your loan to pay off existing debt. If you’re approved for a personal loan and select this option, you’ll tell Upgrade which credit card debts or personal loans you’d like us to pay and how much of your new loan you’d like to put towards this debt. Upgrade will coordinate sending the funds from your new personal loan to your previous creditors.
- What's the difference between refinancing credit card debt with a personal loan and a balance transfer?
- A balance transfer happens when you move debt from one account to another. This can help you lower your interest rate, but it has a few downsides. For one, you’ll typically be charged a balance transfer fee between 3-5% of the amount transferred. You may also have a low balance transfer card limit, which will keep you from transferring your full balance. Additionally, you won’t be able to transfer a balance from the same issuer. And since you’re transferring one credit card balance to another, you may still deal with variable interest rates that can cost you more money over time.
On the other hand, a personal loan gives you a fixed interest rate and a set date when you’ll have paid off your debt.
Learn more about revolving debt (credit cards) vs. installment debt (personal loans).
- How will refinancing my credit cards affect my credit score?
- Refinancing credit card debt with a personal loan increases your available credit. If the amount of credit you're using stays consistent and your available credit increases, your credit utilization ratio will be lower. This can help increase your credit score.
Additionally, if you make payments on your new personal loan on time, you’ll improve your payment history. Payment history is the biggest factor behind your credit score.
Need Help?
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support@upgrade.com
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See if a personal loan is right for you.
Checking your rate won’t affect your credit score.
