On $20,000 of credit card debt at 22% APR, consolidating to a personal loan at 10% APR over 3 years saves approximately $4,000 in total interest.
Debt Consolidation Loans - LoanKey
Americans carry an average of $6,500 in credit card debt at 20% to 25% APR. A debt consolidation loan at 8% to 15% APR can cut your monthly payment, give you a fixed payoff date, and save thousands in total interest. The question is which lender gives you the best deal right now in April 2026. This page compares the top debt consolidation loan options, shows you exactly how much you can save, and tells you which lender to apply to first based on your credit score. What Consolidation Actually Saves You On $20,000 of credit card debt at 22% APR, consolidating to a personal loan at 10% APR over 3 years saves approximately $4,000 in total interest. You also go from multiple minimum payments to one fixed monthly payment with a clear end date. Best Debt Consolidation Loans — April 2026 Lender Starting APR Loan Range Min. Credit Origination Fee Direct Payoff Best For LightStream 6.49%* $5,000 – $100,000 695 None No Best Overall Discover 7.99% $2,500 – $40,000 660 None Yes Lowest Rate + Direct Payoff SoFi 8.99% $5,000 –…
