Consolidate high-interest credit card debt with a SoFi personal loan. Rates from 8.99% APR — potentially saving thousands in interest.
8.99%Starting APR
Up to $100KMax Loan Amount
Same DayTime to Fund
Debt consolidation with a SoFi personal loan means replacing multiple high-interest debts — credit cards, medical bills, store cards — with a single fixed-rate loan at a lower APR. The result: one monthly payment, a clear payoff date, and potentially thousands saved in interest.
The average credit card APR is currently above 20%. If you qualify for a SoFi loan at 8.99% or lower, you could dramatically reduce the total cost of your debt.
Upstart's AI model approves borrowers that traditional lenders reject — no minimum credit score required. Rates from 6.20% APR, up to $75,000, funded in 1 business day.
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Frequently Asked Questions
Can I use a SoFi loan to pay off credit card debt? +
Yes. Debt consolidation is one of the most popular uses for SoFi personal loans. You can use the funds to pay off multiple credit cards and consolidate into one fixed monthly payment.
Will consolidating debt with SoFi hurt my credit score? +
There may be a small, temporary dip when you apply (hard inquiry), but consolidating debt typically improves your credit score over time by reducing your credit utilization ratio.
How much can I save by consolidating with SoFi? +
Savings depend on your current interest rates and the rate you qualify for. If you're paying 24% APR on credit cards and qualify for a SoFi loan at 8.99%, you could save thousands over the life of the loan.
What credit score do I need to consolidate debt with SoFi? +
You generally need a credit score of at least 680 to qualify for a SoFi debt consolidation loan. Borrowers with higher scores qualify for lower rates.
How long does it take to get funds from SoFi for debt consolidation? +
SoFi typically funds loans within Same Day after approval. You can then use the funds to pay off your existing debts immediately.
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Most personal loan lenders require a minimum score of 580–640. The best rates (under 10% APR) typically require a score of 720+. Some lenders like Upstart consider education and employment history alongside credit scores.
Online lenders like Upstart can approve and fund loans in as little as 1–3 business days. Traditional banks may take 1–2 weeks. Pre-qualification takes just minutes and doesn't affect your credit score.
The average personal loan APR is 11–12% for borrowers with good credit. Rates range from 6% for excellent credit to 36% for poor credit. Always compare at least 3 lenders before accepting an offer.
Yes — lenders like Upstart, Avant, and OneMain Financial specialize in loans for borrowers with scores below 640. Expect higher rates (20–36% APR) and consider a co-signer to improve your terms.
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